Dimensional Fund Advisors LP Sells 36,974 Shares of Citi Trends, Inc. $CTRN

Key Points

• Dimensional Fund Advisors reduced its Citi Trends stake by 10.1%, selling 36,974 shares and retaining 327,769 shares worth approximately $14.2 million.
• Citi Trends reported strong quarterly results, with earnings of $0.91 per share versus the $0.32 consensus estimate and revenue of $230.86 million, above expectations.
• The stock rose 0.9% to $72.69, near its 52-week high, while analyst sentiment remained positive with a “Moderate Buy” consensus and a $73 average price target.

Dimensional Fund Advisors LP lowered its holdings in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 327,769 shares of the company's stock after selling 36,974 shares during the period. Dimensional Fund Advisors LP owned approximately 3.93% of Citi Trends worth $14,198,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of Citi Trends by 143.3% in the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company's stock worth $33,000 after purchasing an additional 619 shares during the last quarter. New York State Common Retirement Fund lifted its position in Citi Trends by 175.0% during the fourth quarter. New York State Common Retirement Fund now owns 1,100 shares of the company's stock valued at $46,000 after purchasing an additional 700 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in Citi Trends during the fourth quarter valued at approximately $51,000. Meeder Asset Management Inc. grew its stake in Citi Trends by 277.1% in the 4th quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company's stock worth $68,000 after buying an additional 1,211 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Citi Trends by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 5,356 shares of the company's stock worth $223,000 after buying an additional 1,693 shares in the last quarter.

Citi Trends Trading Up 0.9%

Shares of NASDAQ CTRN opened at $72.69 on Friday. The stock's 50-day moving average is $58.89 and its 200 day moving average is $50.13. The stock has a market cap of $605.51 million, a price-to-earnings ratio of 52.30 and a beta of 1.82. Citi Trends, Inc. has a 1-year low of $29.20 and a 1-year high of $73.39.

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

Analyst Ratings Changes

Several research firms have recently weighed in on CTRN. Wall Street Zen upgraded shares of Citi Trends from a "hold" rating to a "buy" rating in a research report on Monday, June 29th. 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, DA Davidson increased their target price on Citi Trends from $68.00 to $73.00 and gave the company a "buy" rating in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $73.00.

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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