Charles Schwab Investment Management Inc. Trims Stock Holdings 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. lessened its stake 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 SEC. The institutional investor 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 large investors also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in shares of Citi Trends during the 1st quarter worth about $63,000. Wells Fargo & Company MN lifted its position in shares of Citi Trends by 22.8% during the 4th 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 acquired a new stake in Citi Trends during the 4th quarter worth $105,000. Occudo Quantitative Strategies LP acquired a new position in Citi Trends in the fourth quarter valued at $214,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Citi Trends during the fourth quarter worth about $225,000.

Analysts Set New Price Targets

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

Citi Trends Price Performance

Shares of NASDAQ CTRN traded up $0.72 during mid-day trading on Monday, hitting $38.43. The company's stock had a trading volume of 62,130 shares, compared to its average volume of 88,133. Citi Trends, Inc. has a one year low of $13.88 and a one year high of $39.37. The company's fifty day simple moving average is $32.21 and its 200-day simple moving average is $27.14. The stock has a market cap of $318.58 million, a price-to-earnings ratio of -19.12 and a beta of 2.07.

Citi Trends (NASDAQ:CTRN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 26th. The company reported ($0.82) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.01) by $0.19. The company had revenue of $190.75 million for the quarter, compared to the consensus estimate of $188.20 million. Citi Trends had a negative net margin of 2.13% and a negative return on equity of 21.07%.

Insider Buying and Selling

In other Citi Trends news, Director Margaret L. Jenkins sold 1,000 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $36.21, for a total transaction of $36,210.00. Following the sale, the director directly owned 16,163 shares of the company's stock, valued at $585,262.23. The trade was a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Katrina George sold 750 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $33.94, for a total value of $25,455.00. Following the completion of the transaction, the vice president owned 6,150 shares in the company, valued at approximately $208,731. This represents a 10.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,066 shares of company stock worth $73,088 over the last three months. Insiders own 3.80% of the company's stock.

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.