UBS Group AG Cuts Stake in Citi Trends, Inc. $CTRN

UBS Group AG decreased its holdings in Citi Trends, Inc. (NASDAQ:CTRN) by 25.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 91,022 shares of the company’s stock after selling 31,609 shares during the period. UBS Group AG owned approximately 1.09% of Citi Trends worth $3,783,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in shares of Citi Trends in the 4th quarter valued at $3,616,000. Tectonic Advisors LLC boosted its stake in shares of Citi Trends by 203.3% in the 4th quarter. Tectonic Advisors LLC now owns 45,396 shares of the company’s stock valued at $1,887,000 after purchasing an additional 30,428 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Citi Trends in the 3rd quarter valued at $812,000. GSA Capital Partners LLP purchased a new stake in shares of Citi Trends in the 3rd quarter valued at $551,000. Finally, Hodges Capital Management Inc. boosted its stake in shares of Citi Trends by 593.3% in the 3rd quarter. Hodges Capital Management Inc. now owns 52,000 shares of the company’s stock valued at $1,614,000 after purchasing an additional 44,500 shares in the last quarter.

Citi Trends Trading Up 11.5%

Shares of NASDAQ CTRN opened at $42.61 on Friday. Citi Trends, Inc. has a 12 month low of $25.00 and a 12 month high of $56.78. The firm has a market capitalization of $355.37 million, a PE ratio of 72.22 and a beta of 1.93. The firm has a fifty day simple moving average of $45.27 and a two-hundred day simple moving average of $44.42.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Tuesday, March 17th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. Citi Trends had a net margin of 0.64% and a negative return on equity of 4.78%. The business had revenue of $230.39 million during the quarter, compared to analyst estimates of $227.42 million.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CTRN shares. Weiss Ratings raised shares of Citi Trends from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. DA Davidson set a $68.00 price target on shares of Citi Trends in a research report on Tuesday, March 17th. Finally, Craig Hallum reissued a “buy” rating on shares of Citi Trends in a research report on Wednesday, March 18th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Buying and Selling

In other Citi Trends news, Director Margaret L. Jenkins sold 2,000 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $45.91, for a total value of $91,820.00. Following the completion of the transaction, the director directly owned 14,163 shares in the company, valued at approximately $650,223.33. This represents a 12.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.60% of the company’s stock.

About Citi Trends

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.