Royce & Associates LP Has $5.50 Million Stock Holdings in Citi Trends, Inc. (NASDAQ:CTRN)

Key Points

• Royce & Associates LP increased its stake in Citi Trends by 34.8%, owning 248,356 shares valued at approximately $5.5 million as of the latest SEC filing.
• Analysts from Wall Street Zen downgraded Citi Trends from a "buy" to a "hold" rating, indicating a cautious outlook on the stock's performance.
• Despite recent sales by insiders, including VP Katrina George, who sold 750 shares, insiders still hold 10.70% of the company's stock.

Royce & Associates LP lifted its holdings in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 34.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 248,356 shares of the company's stock after buying an additional 64,178 shares during the period. Royce & Associates LP owned about 3.00% of Citi Trends worth $5,497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Kathmere Capital Management LLC acquired a new stake in shares of Citi Trends in the first quarter worth $775,000. Bank of New York Mellon Corp boosted its position in Citi Trends by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 16,220 shares of the company's stock valued at $359,000 after purchasing an additional 717 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Citi Trends during the first quarter valued at $63,000. Two Sigma Advisers LP boosted its position in Citi Trends by 10.6% during the fourth quarter. Two Sigma Advisers LP now owns 99,000 shares of the company's stock valued at $2,599,000 after purchasing an additional 9,500 shares during the last quarter. Finally, Shay Capital LLC boosted its position in Citi Trends by 40.1% during the fourth quarter. Shay Capital LLC now owns 360,000 shares of the company's stock valued at $9,450,000 after purchasing an additional 102,958 shares during the last quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Citi Trends from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th.

Insider Activity

In other news, VP Katrina George sold 750 shares of the company's stock in a transaction dated 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 sale, the vice president owned 6,150 shares in the company, valued at approximately $208,731. This represents a 10.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 10.70% of the company's stock.

Citi Trends Trading Down 1.4%

CTRN opened at $29.99 on Friday. The stock has a market cap of $248.62 million, a price-to-earnings ratio of -6.42 and a beta of 1.98. Citi Trends, Inc. has a 1 year low of $13.65 and a 1 year high of $34.63. The stock has a fifty day moving average price of $30.34 and a 200 day moving average price of $25.83.

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

About Citi Trends

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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