Alambic Investment Management L.P. Takes Position in Citi Trends, Inc. (CTRN)
Alambic Investment Management L.P. purchased a new stake in shares of Citi Trends, Inc. (NASDAQ:CTRN) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 17,000 shares of the company’s stock, valued at approximately $450,000.
Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Citi Trends by 5.7% during the second quarter. State Street Corp now owns 296,756 shares of the company’s stock valued at $6,296,000 after acquiring an additional 15,901 shares during the last quarter. Algert Global LLC increased its position in shares of Citi Trends by 136.1% during the third quarter. Algert Global LLC now owns 233,938 shares of the company’s stock worth $4,648,000 after buying an additional 134,839 shares during the period. Northern Trust Corp increased its position in shares of Citi Trends by 4.1% during the second quarter. Northern Trust Corp now owns 202,634 shares of the company’s stock worth $4,300,000 after buying an additional 7,994 shares during the period. Kestrel Investment Management Corp acquired a new stake in shares of Citi Trends during the third quarter worth $3,983,000. Finally, LSV Asset Management increased its position in shares of Citi Trends by 109.1% during the fourth quarter. LSV Asset Management now owns 161,200 shares of the company’s stock worth $4,265,000 after buying an additional 84,100 shares during the period. 88.01% of the stock is owned by hedge funds and other institutional investors.
Shares of Citi Trends, Inc. (CTRN) opened at $22.20 on Friday. Citi Trends, Inc. has a 12-month low of $15.54 and a 12-month high of $28.12. The firm has a market cap of $297.61, a price-to-earnings ratio of 21.76 and a beta of 0.44.
Several equities research analysts have recently weighed in on the stock. BidaskClub cut shares of Citi Trends from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 6th. TheStreet upgraded shares of Citi Trends from a “c+” rating to a “b-” rating in a research report on Monday, October 16th.
Citi Trends Profile
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.
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