Long Focus Capital Management LLC Has $7.53 Million Holdings in Citi Trends, Inc. $CTRN

Key Points

• Long Focus Capital reduced its Citi Trends stake by 44.8% in Q3, selling 197,332 shares and retaining 242,668 shares worth about $7.53 million, roughly 2.92% of the company.
• Other institutional activity was notable: Hodges Capital grew its holding by 593.3% to 52,000 shares (~$1.61M), Dynamic Technology Lab raised its stake by 63.2%, and new positions were opened by Envestnet, Principal Financial and XTX Topco.
• Analyst sentiment is mixed with a consensus rating of Hold and a $55 price target; CTRN trades near $44, has a market cap of ~$368.6M and a negative P/E (-22.09).

Long Focus Capital Management LLC trimmed its holdings in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 44.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,668 shares of the company's stock after selling 197,332 shares during the period. Long Focus Capital Management LLC owned 2.92% of Citi Trends worth $7,530,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. bought a new position in Citi Trends during the 2nd quarter worth $227,000. Dynamic Technology Lab Private Ltd raised its holdings in Citi Trends by 63.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 15,023 shares of the company's stock valued at $502,000 after acquiring an additional 5,819 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Citi Trends during the 3rd quarter valued at $812,000. XTX Topco Ltd bought a new stake in shares of Citi Trends during the 2nd quarter valued at $541,000. Finally, Hodges Capital Management Inc. grew its holdings in shares of Citi Trends by 593.3% during the 3rd quarter. Hodges Capital Management Inc. now owns 52,000 shares of the company's stock worth $1,614,000 after purchasing an additional 44,500 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. DA Davidson set a $55.00 price target on Citi Trends in a research note on Tuesday, January 13th. Wall Street Zen downgraded shares of Citi Trends from a "buy" rating to a "hold" rating in a research note on Monday, December 15th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Citi Trends in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $55.00.

Citi Trends Stock Performance

Shares of CTRN stock opened at $44.17 on Tuesday. The stock's fifty day moving average price is $45.78 and its two-hundred day moving average price is $40.91. The company has a market cap of $368.60 million, a PE ratio of -22.09 and a beta of 2.06. Citi Trends, Inc. has a fifty-two week low of $16.82 and a fifty-two week high of $49.83.

About Citi Trends

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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