Rhumbline Advisers Sells 20,541 Shares of Citi Trends, Inc. $CTRN

Key Points

• Rhumbline Advisers has reduced its holdings in Citi Trends, Inc. by 66.1%, selling 20,541 shares, leaving it with only 10,548 shares valued at approximately $233,000.
• Equities research analysts have upgraded Citi Trends from a "hold" to a "buy" rating, with target prices rising from $40.00 to $43.00.
• Citi Trends reported a revenue of $190.75 million for the last quarter, exceeding analyst expectations by $2.55 million, although it posted a negative earnings per share of ($0.82).

Rhumbline Advisers reduced its position in shares of Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 66.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,548 shares of the company's stock after selling 20,541 shares during the quarter. Rhumbline Advisers owned 0.13% of Citi Trends worth $233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CTRN. Dynamic Technology Lab Private Ltd bought a new stake in Citi Trends in the 1st quarter worth approximately $204,000. AWM Investment Company Inc. grew its holdings in shares of Citi Trends by 1.6% in the first quarter. AWM Investment Company Inc. now owns 232,477 shares of the company's stock worth $5,146,000 after acquiring an additional 3,694 shares during the period. State of Wyoming bought a new stake in shares of Citi Trends in the first quarter worth $148,000. Hsbc Holdings PLC grew its stake in shares of Citi Trends by 5.0% during the 1st quarter. Hsbc Holdings PLC now owns 10,328 shares of the company's stock valued at $223,000 after purchasing an additional 488 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Citi Trends by 10.5% during the 1st quarter. American Century Companies Inc. now owns 14,470 shares of the company's stock valued at $320,000 after purchasing an additional 1,371 shares during the period.

Insider Activity at Citi Trends

In other Citi Trends news, Director Margaret L. Jenkins sold 1,000 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $36.21, for a total transaction of $36,210.00. Following the completion of the transaction, the director owned 16,163 shares of the company's stock, valued at $585,262.23. This represents a 5.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Citi Trends from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. DA Davidson boosted their target price on shares of Citi Trends from $40.00 to $43.00 and gave the company a "buy" rating in a research report on Wednesday, August 27th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $39.50.

Citi Trends Price Performance

CTRN stock opened at $30.85 on Friday. Citi Trends, Inc. has a 1-year low of $16.18 and a 1-year high of $39.37. The company has a market capitalization of $256.36 million, a price-to-earnings ratio of -15.43 and a beta of 2.07. The business has a 50 day simple moving average of $32.77 and a two-hundred day simple moving average of $27.99.

Citi Trends (NASDAQ:CTRN - Get Free Report) last issued its earnings results on Tuesday, August 26th. The company reported ($0.82) earnings per share for the quarter, topping analysts' consensus estimates of ($1.01) by $0.19. Citi Trends had a negative net margin of 2.13% and a negative return on equity of 21.25%. The firm had revenue of $190.75 million during the quarter, compared to analyst estimates of $188.20 million.

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.

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