Exchange Traded Concepts LLC Has $2.39 Million Holdings in Citi Trends, Inc. $CTRN

Key Points

• Exchange Traded Concepts LLC reduced its position in Citi Trends, Inc. by 26.4% during the second quarter, now holding approximately 71,466 shares valued at $2,386,000.
• Citi Trends reported a loss of $0.82 EPS for the quarter, beating analysts' expectations, with revenue of $190.75 million.
• Research analysts have recently upgraded Citi Trends' rating, with DA Davidson raising the target price from $40.00 to $43.00 and the stock currently holding an average rating of "Buy."

Exchange Traded Concepts LLC trimmed its holdings in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 26.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,466 shares of the company's stock after selling 25,632 shares during the quarter. Exchange Traded Concepts LLC owned about 0.86% of Citi Trends worth $2,386,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CTRN. GAMMA Investing LLC acquired a new stake in shares of Citi Trends during the 1st quarter valued at $63,000. State of Wyoming acquired a new position in Citi Trends during the first quarter worth $148,000. Bank of America Corp DE increased its position in Citi Trends by 29.5% during the fourth quarter. Bank of America Corp DE now owns 8,801 shares of the company's stock worth $231,000 after buying an additional 2,003 shares during the last quarter. Millennium Management LLC acquired a new position in Citi Trends during the fourth quarter worth $235,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Citi Trends during the first quarter valued at about $204,000.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CTRN. Wall Street Zen upgraded shares of Citi Trends from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. DA Davidson raised their price objective on shares of Citi Trends from $40.00 to $43.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $39.50.

Insider Transactions at Citi Trends

In other news, Director Margaret L. Jenkins sold 1,000 shares of the company'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 completion of the sale, the director owned 16,163 shares of the company's stock, valued at approximately $585,262.23. This represents a 5.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Citi Trends Stock Down 2.0%

CTRN traded down $0.67 during trading on Tuesday, hitting $32.19. The company had a trading volume of 13,331 shares, compared to its average volume of 89,488. The firm's 50-day moving average price is $32.71 and its 200 day moving average price is $27.88. Citi Trends, Inc. has a one year low of $16.18 and a one year high of $39.37. The company has a market capitalization of $267.50 million, a PE ratio of -16.10 and a beta of 2.07.

Citi Trends (NASDAQ:CTRN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 26th. The company reported ($0.82) earnings per share for the quarter, beating the consensus estimate of ($1.01) by $0.19. The company had revenue of $190.75 million during the quarter, compared to analysts' expectations of $188.20 million. Citi Trends had a negative return on equity of 21.25% and a negative net margin of 2.13%.

Citi Trends Company 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.