Susquehanna International Group LLP Decreases Holdings in Citi Trends, Inc. $CTRN

Susquehanna International Group LLP lowered its position in Citi Trends, Inc. (NASDAQ:CTRN) by 90.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,069 shares of the company’s stock after selling 50,876 shares during the period. Susquehanna International Group LLP’s holdings in Citi Trends were worth $293,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in Citi Trends during the second quarter worth $30,000. Allworth Financial LP acquired a new stake in Citi Trends in the second quarter valued at $31,000. BNP Paribas Financial Markets grew 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 purchasing an additional 619 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Citi Trends by 175.0% in the fourth quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock valued at $46,000 after buying an additional 700 shares in the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Citi Trends in the fourth quarter valued at $51,000.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CTRN. DA Davidson set a $81.00 price target on Citi Trends in a research note on Wednesday, August 26th. Wall Street Zen raised shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Monday, June 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Citi Trends in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Citi Trends has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

Citi Trends Stock Performance

CTRN stock opened at $67.87 on Wednesday. The stock’s 50 day moving average price is $65.76 and its 200 day moving average price is $53.42. The firm has a market cap of $565.36 million, a P/E ratio of 82.77 and a beta of 1.82. Citi Trends, Inc. has a 1 year low of $29.60 and a 1 year high of $77.91.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Tuesday, August 25th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.37. Citi Trends had a return on equity of 8.25% and a net margin of 0.84%.The company had revenue of $211.63 million during the quarter, compared to the consensus estimate of $211.60 million.

Citi Trends Profile

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.