Paradigm Capital Management Inc. NY Has $2.37 Million Stock Holdings in Citi Trends, Inc. $CTRN

Key Points

• Paradigm Capital Management Inc. NY has reduced its position in Citi Trends by 46.5%, selling 92,972 shares and now holding 107,028 shares valued at approximately $2.37 million.
• Equities analysts have downgraded Citi Trends' rating from "buy" to "hold", although DA Davidson has increased their price target to $43.00 with a retained "buy" rating.
• Citi Trends reported a loss of ($0.82) earnings per share, surpassing analysts' expectations, along with revenue of $190.75 million for the quarter.

Paradigm Capital Management Inc. NY cut its position in shares of Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 46.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,028 shares of the company's stock after selling 92,972 shares during the period. Paradigm Capital Management Inc. NY owned 1.29% of Citi Trends worth $2,369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC purchased a new stake in shares of Citi Trends during the 4th quarter worth about $235,000. Bank of America Corp DE raised its position in Citi Trends by 29.5% in the 4th quarter. Bank of America Corp DE now owns 8,801 shares of the company's stock valued at $231,000 after purchasing an additional 2,003 shares during the last quarter. Ameriprise Financial Inc. raised its position in Citi Trends by 0.7% in the 4th quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company's stock valued at $5,221,000 after purchasing an additional 1,400 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Citi Trends during the first quarter worth $63,000. Finally, Wells Fargo & Company MN grew its stake in shares of Citi Trends by 22.8% during 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 period.

Citi Trends Stock Down 1.3%

Shares of CTRN stock traded down $0.49 during trading hours on Friday, reaching $38.26. The company's stock had a trading volume of 89,168 shares, compared to its average volume of 87,965. Citi Trends, Inc. has a fifty-two week low of $13.88 and a fifty-two week high of $39.37. The company has a market capitalization of $317.13 million, a price-to-earnings ratio of -19.12 and a beta of 2.07. The firm's 50 day simple moving average is $32.12 and its 200-day simple moving average is $27.08.

Citi Trends (NASDAQ:CTRN - Get Free Report) last announced its earnings results on Tuesday, August 26th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.01) by $0.19. The business had revenue of $190.75 million during the quarter, compared to analyst estimates of $188.20 million. Citi Trends had a negative return on equity of 21.07% and a negative net margin of 2.13%.

Insider Transactions at Citi Trends

In related news, VP Katrina George sold 750 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $33.94, for a total transaction of $25,455.00. Following the completion of the transaction, the vice president directly owned 6,150 shares of the company's stock, valued at $208,731. This trade represents a 10.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wall Street Zen cut Citi Trends from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. DA Davidson upped their price objective on Citi Trends from $40.00 to $43.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $39.50.

Citi Trends 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.