Citi Trends, Inc. (NASDAQ:CTRN) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in shares of Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 66.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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.

Other hedge funds have also bought and sold shares of the company. AlphaQuest LLC raised its holdings in shares of Citi Trends by 287.5% in the fourth quarter. AlphaQuest LLC now owns 8,354 shares of the company's stock worth $219,000 after buying an additional 6,198 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Citi Trends by 5,400.6% in the fourth quarter. JPMorgan Chase & Co. now owns 152,422 shares of the company's stock worth $4,001,000 after buying an additional 149,651 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Citi Trends by 130.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 59,991 shares of the company's stock worth $1,575,000 after buying an additional 33,946 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Citi Trends by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 166,558 shares of the company's stock worth $4,373,000 after buying an additional 3,086 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Citi Trends by 22.8% in the fourth quarter. Wells Fargo & Company MN now owns 3,745 shares of the company's stock worth $98,000 after buying an additional 695 shares during the last quarter.

Citi Trends Trading Up 1.3%

CTRN opened at $30.36 on Wednesday. Citi Trends, Inc. has a 12-month low of $13.66 and a 12-month high of $34.63. The firm has a market capitalization of $251.68 million, a PE ratio of -6.50 and a beta of 1.94. The firm has a 50 day moving average of $26.12 and a two-hundred day moving average of $24.92.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen cut shares of Citi Trends from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. DA Davidson reissued a "buy" rating and set a $29.00 price target on shares of Citi Trends in a research report on Wednesday, March 19th.

Insiders Place Their Bets

In other news, VP Katrina George sold 750 shares of Citi Trends stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $33.94, for a total transaction of $25,455.00. Following the completion of the transaction, the vice president now directly owns 6,150 shares of the company's stock, valued at $208,731. The trade was 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. 3.80% of the stock is currently owned by insiders.

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.

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