Citi Trends, Inc. $CTRN Shares Sold by Royce & Associates LP

Royce & Associates LP cut its stake in Citi Trends, Inc. (NASDAQ:CTRN) by 7.2% during the 4th quarter, HoldingsChannel reports. The fund owned 249,328 shares of the company’s stock after selling 19,383 shares during the period. Royce & Associates LP’s holdings in Citi Trends were worth $10,362,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Citi Trends by 143.3% in the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock valued at $33,000 after acquiring an additional 619 shares in the last quarter. CWM LLC raised its holdings in Citi Trends by 118.3% in the fourth quarter. CWM LLC now owns 5,845 shares of the company’s stock valued at $243,000 after acquiring an additional 3,167 shares in the last quarter. Bank of America Corp DE raised its holdings in Citi Trends by 5.8% in the second quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock valued at $208,000 after acquiring an additional 342 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Citi Trends by 7,843.8% in the third quarter. Russell Investments Group Ltd. now owns 6,355 shares of the company’s stock valued at $197,000 after acquiring an additional 6,275 shares in the last quarter. Finally, Strs Ohio raised its holdings in Citi Trends by 1,650.0% in the third quarter. Strs Ohio now owns 7,000 shares of the company’s stock valued at $217,000 after acquiring an additional 6,600 shares in the last quarter.

Citi Trends Stock Performance

Shares of NASDAQ:CTRN opened at $46.60 on Thursday. The stock has a market capitalization of $389.58 million, a price-to-earnings ratio of 78.98 and a beta of 1.93. Citi Trends, Inc. has a 1-year low of $25.52 and a 1-year high of $56.78. The company’s fifty day moving average is $45.23 and its two-hundred day moving average is $44.62.

Citi Trends (NASDAQ:CTRN) last issued its earnings results on Tuesday, March 17th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. The company had revenue of $230.39 million for the quarter, compared to analysts’ expectations of $227.42 million. Citi Trends had a net margin of 0.64% and a negative return on equity of 4.78%.

Insider Buying and Selling at Citi Trends

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

Analyst Upgrades and Downgrades

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

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.