Man Group plc bought a new position in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 48,550 shares of the company's stock, valued at approximately $2,808,000. Man Group plc owned about 0.58% of Citi Trends as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in Citi Trends in the second quarter valued at approximately $30,000. Allworth Financial LP purchased a new stake in Citi Trends in the 2nd quarter worth approximately $31,000. BNP Paribas Financial Markets grew its stake in shares of Citi Trends by 143.3% during the 3rd 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 period. New York State Common Retirement Fund grew its stake in shares of Citi Trends by 175.0% during the 4th 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 period. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Citi Trends during the 4th quarter valued at approximately $51,000.
Citi Trends Price Performance
Shares of CTRN stock opened at $68.07 on Tuesday. Citi Trends, Inc. has a 1-year low of $29.60 and a 1-year high of $77.91. The company has a market cap of $567.02 million, a price-to-earnings ratio of 83.01 and a beta of 1.82. The stock has a 50 day simple moving average of $65.64 and a 200-day simple moving average of $53.26.
Citi Trends (NASDAQ:CTRN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.32) by $0.37. The company had revenue of $211.63 million during the quarter, compared to analyst estimates of $211.60 million. Citi Trends had a net margin of 0.84% and a return on equity of 8.25%.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. DA Davidson set a $81.00 target price on shares of Citi Trends in a research note on Wednesday, August 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Citi Trends in a report on Wednesday, August 26th. Finally, Wall Street Zen raised shares of Citi Trends from a "hold" rating to a "buy" rating in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Citi Trends has an average rating of "Moderate Buy" and an average price target of $81.00.
Get Our Latest Analysis on CTRN
About Citi Trends
(
Free Report)
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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