Jefferies Financial Group Inc. Makes New Investment in Citi Trends, Inc. $CTRN

Jefferies Financial Group Inc. bought a new stake in shares of Citi Trends, Inc. (NASDAQ:CTRN) in the 3rd quarter, HoldingsChannel reports. The fund bought 221,424 shares of the company’s stock, valued at approximately $11,417,000.

A number of other hedge funds also recently made changes to their positions in CTRN. Canada Pension Plan Investment Board bought a new stake in Citi Trends in the second quarter worth about $856,000. Hsbc Holdings PLC purchased a new position in Citi Trends in the second quarter valued at about $828,000. Lotus Technology Management LP bought a new position in shares of Citi Trends during the 2nd quarter valued at approximately $1,734,000. Bank of New York Mellon Corp bought a new position in shares of Citi Trends during the 2nd quarter valued at approximately $1,133,000. Finally, Sei Investments Co. grew its position in shares of Citi Trends by 101.7% during the 1st quarter. Sei Investments Co. now owns 45,536 shares of the company’s stock valued at $1,973,000 after acquiring an additional 22,964 shares during the period.

Wall Street Analysts Forecast Growth

CTRN has been the subject of several research analyst reports. Weiss Ratings lowered shares of Citi Trends from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, November 4th. Wall Street Zen cut shares of Citi Trends from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Finally, DA Davidson set a $81.00 price objective on Citi Trends in a research note on Wednesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $81.00.

Insider Transactions at Citi Trends

In other news, EVP Lisa A. Powell sold 10,000 shares of Citi Trends stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $70.10, for a total value of $701,000.00. Following the completion of the transaction, the executive vice president owned 13,970 shares in the company, valued at $979,297. This trade represents a 41.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Katrina George sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $50.57, for a total transaction of $25,285.00. Following the completion of the sale, the vice president directly owned 5,213 shares in the company, valued at approximately $263,621.41. This trade represents a 8.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 9.60% of the stock is owned by company insiders.

Citi Trends Stock Performance

CTRN stock opened at $46.38 on Thursday. The stock has a fifty day moving average of $52.51 and a 200-day moving average of $52.69. Citi Trends, Inc. has a fifty-two week low of $36.05 and a fifty-two week high of $77.91. The company has a market capitalization of $386.81 million, a price-to-earnings ratio of 41.42 and a beta of 1.85.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, August 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.37. The business had revenue of $211.63 million for the quarter, compared to analysts’ expectations of $211.60 million. Citi Trends had a return on equity of 8.11% and a net margin of 0.84%.

Citi Trends Profile

Citi Trends, Inc. is a U.S. off-price retailer offering apparel, footwear, accessories, beauty products, home goods, toys and seasonal merchandise. Its stores focus on value-conscious shoppers, with product assortments for men, women and children. The company serves customers through retail stores across the United States, emphasizing neighborhoods with diverse and multicultural communities. Merchandise and selection may vary by store and season. Citi Trends traces its roots to Allied Department Stores, founded in 1946, and adopted the Citi Trends name in 2001.