Balyasny Asset Management L.P. Makes New Investment in Citi Trends, Inc. (NASDAQ:CTRN)

Balyasny Asset Management L.P. bought a new stake in shares of Citi Trends, Inc. (NASDAQ:CTRN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,810 shares of the company's stock, valued at approximately $284,000. Balyasny Asset Management L.P. owned 0.12% of Citi Trends at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CTRN. Exchange Traded Concepts LLC boosted its stake in shares of Citi Trends by 7.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 100,523 shares of the company's stock valued at $2,639,000 after buying an additional 6,702 shares during the period. Geode Capital Management LLC boosted its stake in shares of Citi Trends by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 166,558 shares of the company's stock valued at $4,373,000 after buying an additional 3,086 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Citi Trends by 22.8% in the 4th quarter. Wells Fargo & Company MN now owns 3,745 shares of the company's stock valued at $98,000 after buying an additional 695 shares during the period. Empowered Funds LLC boosted its stake in shares of Citi Trends by 5.0% in the 4th quarter. Empowered Funds LLC now owns 25,278 shares of the company's stock valued at $664,000 after buying an additional 1,195 shares during the period. Finally, Barclays PLC boosted its stake in shares of Citi Trends by 2.5% in the 4th quarter. Barclays PLC now owns 26,595 shares of the company's stock valued at $699,000 after buying an additional 642 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTRN. Wall Street Zen upgraded Citi Trends from a "sell" rating to a "hold" rating in a research note on Friday, March 28th. DA Davidson restated a "buy" rating and set a $29.00 target price on shares of Citi Trends in a research note on Wednesday, March 19th. Finally, Craig Hallum upgraded Citi Trends from a "hold" rating to a "buy" rating and set a $36.00 target price for the company in a research note on Monday, February 10th.

Citi Trends Trading Up 0.5%

CTRN stock traded up $0.14 during trading on Friday, hitting $25.94. 53,801 shares of the company's stock were exchanged, compared to its average volume of 122,973. The business has a 50-day moving average price of $21.89 and a two-hundred day moving average price of $23.32. The stock has a market capitalization of $214.73 million, a price-to-earnings ratio of -8.45 and a beta of 2.01. Citi Trends, Inc. has a 52-week low of $13.66 and a 52-week high of $29.41.

Citi Trends (NASDAQ:CTRN - Get Free Report) last posted its earnings results on Tuesday, March 18th. The company reported ($1.55) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($1.73). The business had revenue of $211.17 million for the quarter, compared to analysts' expectations of $211.54 million. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%. During the same quarter in the previous year, the firm earned $0.53 EPS.

Citi Trends 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.