AFG Fiduciary Services Limited Partnership Buys Shares of 10,000 Citi Trends, Inc. $CTRN

Key Points

• AFG Fiduciary Services Limited Partnership acquired 10,000 shares of Citi Trends, Inc. for approximately $330,000, representing a 0.12% ownership stake by the end of the last quarter.
• Citi Trends recently reported a quarterly EPS of ($0.82), surpassing analysts' expectations, with a revenue of $190.75 million for the quarter.
• Brokerages have upgraded Citi Trends' rating from "hold" to "buy," with a new price target raised from $40.00 to $43.00, reflecting growing optimism about the company's stock performance.

AFG Fiduciary Services Limited Partnership acquired a new stake in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,000 shares of the company's stock, valued at approximately $330,000. AFG Fiduciary Services Limited Partnership owned approximately 0.12% of Citi Trends at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Citi Trends in the first quarter valued at about $63,000. State of Wyoming purchased a new stake in shares of Citi Trends in the first quarter valued at about $148,000. Bank of America Corp DE raised its holdings in shares of Citi Trends by 29.5% in the fourth quarter. Bank of America Corp DE now owns 8,801 shares of the company's stock valued at $231,000 after purchasing an additional 2,003 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Citi Trends in the fourth quarter valued at about $235,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Citi Trends in the first quarter valued at about $204,000.

Insider Buying and Selling at Citi Trends

In other Citi Trends news, Director Margaret L. Jenkins sold 1,000 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $36.21, for a total value of $36,210.00. Following the sale, the director owned 16,163 shares of the company's stock, valued at $585,262.23. This trade represents a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. DA Davidson increased their target price on shares of Citi Trends from $40.00 to $43.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. Wall Street Zen upgraded shares of Citi Trends from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $39.50.

Citi Trends Trading Down 3.9%

Shares of CTRN stock traded down $1.27 during trading hours on Tuesday, reaching $31.59. The stock had a trading volume of 26,761 shares, compared to its average volume of 89,517. The stock's fifty day simple moving average is $32.71 and its 200 day simple moving average is $27.88. The firm has a market capitalization of $262.53 million, a PE ratio of -15.80 and a beta of 2.07. Citi Trends, Inc. has a 12 month low of $16.18 and a 12 month high of $39.37.

Citi Trends (NASDAQ:CTRN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 26th. The company reported ($0.82) EPS for the quarter, beating the consensus estimate of ($1.01) by $0.19. The company had revenue of $190.75 million during the quarter, compared to analysts' expectations of $188.20 million. Citi Trends had a negative net margin of 2.13% and a negative return on equity of 21.25%.

Citi Trends Company Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.