Citi Trends, Inc. $CTRN Shares Sold by Tectonic Advisors LLC

Key Points

• Tectonic Advisors cut its Citi Trends position by 48.4% in the second quarter, selling 23,561 shares and retaining 25,126 shares valued at approximately $1.45 million.
• Analyst sentiment remains favorable: Citi Trends has a “Moderate Buy” consensus rating and a $73 price target, with DA Davidson raising its target to $73 and Wall Street Zen upgrading the stock to “Buy.”
• Citi Trends reported quarterly earnings of $0.91 per share, surpassing the $0.32 consensus estimate, while revenue of $230.86 million also exceeded expectations.

Tectonic Advisors LLC decreased its position in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 48.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,126 shares of the company's stock after selling 23,561 shares during the period. Tectonic Advisors LLC owned approximately 0.30% of Citi Trends worth $1,453,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in shares of Citi Trends by 143.3% during the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company's stock valued at $33,000 after buying an additional 619 shares during the last quarter. New York State Common Retirement Fund increased its position in Citi Trends by 175.0% in the 4th quarter. New York State Common Retirement Fund now owns 1,100 shares of the company's stock valued at $46,000 after acquiring an additional 700 shares during the period. Kemnay Advisory Services Inc. bought a new stake in Citi Trends during the 4th quarter valued at $51,000. Meeder Asset Management Inc. boosted its position in Citi Trends by 277.1% during the 4th quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company's stock worth $68,000 after acquiring an additional 1,211 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Citi Trends by 7,843.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,355 shares of the company's stock worth $197,000 after acquiring an additional 6,275 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CTRN shares. DA Davidson raised their price target on Citi Trends from $68.00 to $73.00 and gave the company a "buy" rating in a report on Thursday, June 25th. Weiss Ratings upgraded shares of Citi Trends from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 29th. Finally, Wall Street Zen raised shares of Citi Trends from a "hold" rating to a "buy" rating in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Citi Trends presently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Citi Trends Stock Performance

Shares of CTRN stock opened at $74.02 on Thursday. Citi Trends, Inc. has a 1 year low of $29.20 and a 1 year high of $77.91. The business's fifty day moving average is $60.65 and its 200-day moving average is $50.79. The stock has a market cap of $616.59 million, a PE ratio of 53.25 and a beta of 1.82.

Citi Trends (NASDAQ:CTRN - Get Free Report) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.59. The business had revenue of $230.86 million during the quarter, compared to analyst estimates of $217.42 million. Citi Trends had a return on equity of 2.09% and a net margin of 1.42%.During the same quarter in the prior year, the firm posted $0.11 earnings per share.

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.

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