Charles Schwab Investment Management Inc. Has $414,000 Position in Citi Trends, Inc. $CTRN

Key Points

• Charles Schwab Investment Management Inc. has significantly reduced its stake in Citi Trends, Inc. by 73.6% in Q1, owning only 18,685 shares valued at $414,000 after selling 52,150 shares.
• Citi Trends stock has seen a 5.0% increase recently, with shares opening at $36.78, and the company reporting better-than-expected earnings with a revenue of $190.75 million.
• Analysts are divided on Citi Trends; while DA Davidson has raised its target price to $43.00, others have lowered their ratings from "buy" to "hold".

Charles Schwab Investment Management Inc. cut its holdings in shares of Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 73.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,685 shares of the company's stock after selling 52,150 shares during the period. Charles Schwab Investment Management Inc. owned about 0.23% of Citi Trends worth $414,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Citi Trends during the first quarter worth $63,000. Wells Fargo & Company MN lifted its stake in Citi Trends by 22.8% during the fourth quarter. Wells Fargo & Company MN now owns 3,745 shares of the company's stock worth $98,000 after purchasing an additional 695 shares during the last quarter. MetLife Investment Management LLC bought a new stake in Citi Trends during the fourth quarter worth $105,000. Occudo Quantitative Strategies LP bought a new stake in Citi Trends during the fourth quarter worth $214,000. Finally, Envestnet Asset Management Inc. bought a new stake in Citi Trends during the fourth quarter worth $225,000.

Analyst Ratings Changes

CTRN has been the subject of several recent analyst reports. DA Davidson upped their target price on Citi Trends from $40.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Wall Street Zen cut Citi Trends from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $39.50.

Citi Trends Stock Performance

Shares of CTRN traded down $2.65 during trading hours on Tuesday, reaching $35.17. The stock had a trading volume of 81,025 shares, compared to its average volume of 96,456. Citi Trends, Inc. has a 12 month low of $13.88 and a 12 month high of $39.37. The stock has a market capitalization of $291.56 million, a PE ratio of -17.59 and a beta of 2.07. The company's 50-day moving average is $32.34 and its two-hundred day moving average is $27.28.

Citi Trends (NASDAQ:CTRN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 26th. The company reported ($0.82) EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 21.07% and a negative net margin of 2.13%.

Insider Transactions at Citi Trends

In related news, Director Margaret L. Jenkins sold 1,000 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $36.21, for a total transaction of $36,210.00. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

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.