5,510,012 Shares in Citi Trends, Inc. (NASDAQ:CTRN) Acquired by Nuveen LLC

Key Points

• Nuveen LLC acquired a new stake in Citi Trends, Inc. during the first quarter, purchasing 5,510,012 shares valued at approximately $121.99 million.
• Several hedge funds, including JPMorgan Chase & Co. and Shay Capital LLC, significantly increased their stakes in Citi Trends, indicating growing interest in the company.
• Analysts have downgraded Citi Trends' stock from a "buy" to a "hold" rating, reflecting a shift in market sentiment regarding the company's future performance.

Nuveen LLC acquired a new position in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,510,012 shares of the company's stock, valued at approximately $121,992,000. Nuveen LLC owned about 66.56% of Citi Trends at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Citi Trends in the first quarter worth about $63,000. Wells Fargo & Company MN lifted its stake in Citi Trends by 22.8% in the fourth quarter. Wells Fargo & Company MN now owns 3,745 shares of the company's stock worth $98,000 after purchasing an additional 695 shares during the last quarter. MetLife Investment Management LLC bought a new stake in Citi Trends in the fourth quarter worth about $105,000. Occudo Quantitative Strategies LP bought a new stake in Citi Trends in the fourth quarter worth about $214,000. Finally, Envestnet Asset Management Inc. bought a new stake in Citi Trends in the fourth quarter worth about $225,000.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Citi Trends from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th.

Insider Buying and Selling at Citi Trends

In related news, VP Katrina George sold 750 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $33.94, for a total value of $25,455.00. Following the completion of the transaction, the vice president owned 6,150 shares of the company's stock, valued at $208,731. The trade was a 10.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 10.70% of the company's stock.

Citi Trends Trading Down 2.2%

Shares of Citi Trends stock traded down $0.72 on Friday, hitting $31.97. 40,117 shares of the company traded hands, compared to its average volume of 50,816. The stock's 50 day moving average price is $31.10 and its 200-day moving average price is $26.27. Citi Trends, Inc. has a 52 week low of $13.65 and a 52 week high of $34.63. The company has a market cap of $265.03 million, a PE ratio of -6.85 and a beta of 2.05.

Citi Trends (NASDAQ:CTRN - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.36. Citi Trends had a negative net margin of 5.06% and a negative return on equity of 27.90%. The firm had revenue of $201.73 million during the quarter, compared to the consensus estimate of $195.76 million. During the same quarter in the previous year, the firm posted ($0.32) earnings per share.

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.