Public Employees Retirement System of Ohio Takes Position in Citi Trends, Inc. $CTRN

Public Employees Retirement System of Ohio bought a new position in shares of Citi Trends, Inc. (NASDAQ:CTRN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,978 shares of the company’s stock, valued at approximately $635,000. Public Employees Retirement System of Ohio owned approximately 0.13% of Citi Trends as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sei Investments Co. lifted 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 worth $1,973,000 after buying an additional 22,964 shares during the last quarter. Lotus Technology Management LP purchased a new position in shares of Citi Trends in the 2nd quarter valued at $1,734,000. Hsbc Holdings PLC acquired a new stake in Citi Trends during the 2nd quarter worth $828,000. Paradigm Capital Management Inc. NY acquired a new stake in Citi Trends during the 2nd quarter worth $2,751,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Citi Trends in the second quarter valued at $856,000.

Insider Activity

In related news, EVP Lisa Powell sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $70.10, for a total transaction of $701,000.00. Following the transaction, the executive vice president owned 13,970 shares of the company’s stock, valued at $979,297. This trade represents a 41.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 9.60% of the stock is currently owned by corporate insiders.

Citi Trends Trading Down 6.1%

Shares of CTRN opened at $66.21 on Thursday. The company’s 50 day simple moving average is $67.09 and its 200-day simple moving average is $54.41. The firm has a market cap of $551.53 million, a PE ratio of 80.74 and a beta of 1.82. Citi Trends, Inc. has a 12-month low of $29.60 and a 12-month high of $77.91.

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

Wall Street Analyst Weigh In

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

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.