Rhumbline Advisers Trims Stock Position in Citi Trends, Inc. (NASDAQ:CTRN)

Rhumbline Advisers reduced its stake in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 66.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,548 shares of the company's stock after selling 20,541 shares during the period. Rhumbline Advisers owned approximately 0.12% of Citi Trends worth $233,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC grew its holdings in Citi Trends by 2.5% during the 4th quarter. Barclays PLC now owns 26,595 shares of the company's stock worth $699,000 after acquiring an additional 642 shares in the last quarter. 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. Ameriprise Financial Inc. grew its stake in shares of Citi Trends by 0.7% during the fourth quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company's stock worth $5,221,000 after purchasing an additional 1,400 shares in the last quarter. Bank of America Corp DE increased its holdings in 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 buying an additional 2,003 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Citi Trends in the first quarter valued at $63,000.

Citi Trends Stock Up 6.6%

CTRN traded up $2.06 on Friday, reaching $33.21. The company had a trading volume of 329,773 shares, compared to its average volume of 116,177. Citi Trends, Inc. has a 1 year low of $13.66 and a 1 year high of $34.63. The stock has a market capitalization of $275.31 million, a PE ratio of -7.11 and a beta of 1.94. The stock has a 50-day moving average price of $26.84 and a 200-day moving average price of $25.06.

Citi Trends (NASDAQ:CTRN - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of ($0.19) by $0.36. The business had revenue of $201.73 million for the quarter, compared to analysts' expectations of $195.76 million. Citi Trends had a negative return on equity of 27.90% and a negative net margin of 5.06%. During the same quarter in the previous year, the firm earned ($0.32) earnings per share.

Wall Street Analysts Forecast Growth

CTRN has been the subject of several analyst reports. DA Davidson reaffirmed a "buy" rating and set a $29.00 price objective on shares of Citi Trends in a research report on Wednesday, March 19th. Wall Street Zen downgraded Citi Trends from a "buy" rating to a "hold" rating in a report on Saturday, June 14th.

Insider Transactions at Citi Trends

In related news, VP Katrina George sold 750 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $33.94, for a total value of $25,455.00. Following the completion of the sale, the vice president now owns 6,150 shares in the company, valued at $208,731. This represents a 10.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.70% of the company's stock.

About Citi Trends

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.