Fund 1 Investments LLC Has $105.47 Million Stock Position in Citi Trends, Inc. $CTRN

Key Points

• Fund 1 Investments LLC cut its Citi Trends stake by 29.1% in the second quarter, selling 750,000 shares but retaining 1.82 million shares worth approximately $105.47 million. Citi Trends remains the fund’s largest holding and represents 21.89% of the company.
• Analyst sentiment is moderately bullish: two analysts rate Citi Trends a Buy and one rates it Hold, with a consensus price target of $81.00.
• Citi Trends reported quarterly EPS of $0.05, beating the consensus estimate of a $0.32 loss, while revenue of $211.63 million was broadly in line with expectations. The stock opened at $71.16, up 2.9%.

Fund 1 Investments LLC trimmed its holdings in shares of Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 29.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,823,486 shares of the company's stock after selling 750,000 shares during the quarter. Citi Trends comprises about 17.5% of Fund 1 Investments LLC's holdings, making the stock its largest position. Fund 1 Investments LLC owned 21.89% of Citi Trends worth $105,470,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in shares of Citi Trends during the 2nd quarter valued at about $30,000. Allworth Financial LP purchased a new position in shares of Citi Trends during the second quarter worth about $31,000. 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 increased its position in shares of Citi Trends by 175.0% in the fourth quarter. New York State Common Retirement Fund now owns 1,100 shares of the company's stock worth $46,000 after purchasing an additional 700 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in Citi Trends in the fourth quarter valued at approximately $51,000.

Wall Street Analysts Forecast Growth

CTRN has been the subject of several research analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Citi Trends in a research report on Wednesday, August 26th. DA Davidson set a $81.00 price target on shares of Citi Trends in a report on Wednesday, August 26th. Finally, Wall Street Zen upgraded shares of Citi Trends from a "hold" rating to a "buy" rating in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $81.00.

Citi Trends Trading Up 2.9%

CTRN opened at $71.16 on Friday. The stock has a 50-day moving average price of $66.33 and a 200-day moving average price of $53.86. Citi Trends, Inc. has a 12-month low of $29.60 and a 12-month high of $77.91. The stock has a market capitalization of $592.76 million, a P/E ratio of 86.78 and a beta of 1.82.

Citi Trends (NASDAQ:CTRN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 25th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.32) by $0.37. The firm had revenue of $211.63 million for the quarter, compared to analyst estimates of $211.60 million. Citi Trends had a return on equity of 8.25% and a net margin of 0.84%.

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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