Paradigm Capital Management Inc. NY purchased a new position in shares of Citi Trends, Inc. (NASDAQ:CTRN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 47,560 shares of the company's stock, valued at approximately $2,751,000. Paradigm Capital Management Inc. NY owned approximately 0.57% of Citi Trends as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CTRN. BlackRock Inc. acquired a new stake in shares of Citi Trends during the 2nd quarter valued at $29,400,000. Vanguard Group Inc. increased its position in shares of Citi Trends by 10.2% during the third quarter. Vanguard Group Inc. now owns 373,685 shares of the company's stock worth $11,595,000 after buying an additional 34,450 shares during the period. AWM Investment Company Inc. raised its position in shares of Citi Trends by 3.9% in the 4th quarter. AWM Investment Company Inc. now owns 241,657 shares of the company's stock worth $10,043,000 after acquiring an additional 9,180 shares in the last quarter. Marshall Wace LLP increased its holdings in Citi Trends by 61.1% in the fourth quarter. Marshall Wace LLP now owns 197,641 shares of the company's stock worth $8,214,000 after purchasing an additional 74,994 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Citi Trends by 239.6% during the 4th quarter. AQR Capital Management LLC now owns 182,133 shares of the company's stock valued at $7,569,000 after acquiring an additional 128,508 shares during the period.
Citi Trends Stock Up 3.7%
CTRN stock opened at $74.35 on Tuesday. The stock has a 50-day simple moving average of $64.73 and a two-hundred day simple moving average of $52.44. The firm has a market capitalization of $619.34 million, a PE ratio of 53.49 and a beta of 1.82. Citi Trends, Inc. has a twelve month low of $29.60 and a twelve month high of $77.91.
Citi Trends (NASDAQ:CTRN - Get Free Report) last posted its earnings results on Tuesday, June 2nd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.59. Citi Trends had a net margin of 1.42% and a return on equity of 2.09%. The business had revenue of $230.86 million for the quarter, compared to analysts' expectations of $217.42 million. During the same period in the prior year, the company posted $0.11 EPS.
Analysts Set New Price Targets
Several research analysts have issued reports on CTRN shares. DA Davidson increased their price target on Citi Trends from $68.00 to $73.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Weiss Ratings upgraded shares of Citi Trends from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 29th. Finally, Wall Street Zen upgraded Citi Trends from a "hold" rating to a "buy" rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Citi Trends presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.
Get Our Latest Stock Analysis on Citi Trends
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.
See Also
Want to see what other hedge funds are holding CTRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citi Trends, Inc. (NASDAQ:CTRN - Free Report).
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