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

Several other institutional investors have also modified their holdings of the stock. Shay Capital LLC raised its holdings in shares of Citi Trends by 40.1% during the 4th quarter. Shay Capital LLC now owns 360,000 shares of the company's stock worth $9,450,000 after acquiring an additional 102,958 shares during the period. Ameriprise Financial Inc. raised its holdings 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 buying an additional 1,400 shares during the period. Geode Capital Management LLC raised its holdings in Citi Trends by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 166,558 shares of the company's stock valued at $4,373,000 after buying an additional 3,086 shares during the period. JPMorgan Chase & Co. raised its holdings in Citi Trends by 5,400.6% in the 4th quarter. JPMorgan Chase & Co. now owns 152,422 shares of the company's stock valued at $4,001,000 after buying an additional 149,651 shares during the period. Finally, Solas Capital Management LLC raised its holdings in Citi Trends by 17.6% in the 4th quarter. Solas Capital Management LLC now owns 151,412 shares of the company's stock valued at $3,975,000 after buying an additional 22,650 shares during the period.

Insider Activity at Citi Trends

In other news, VP Katrina George sold 750 shares of the business'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 transaction, the vice president directly owned 6,150 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 3.80% of the company's stock.

Wall Street Analyst Weigh In

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

Citi Trends Stock Up 0.2%

NASDAQ CTRN traded up $0.05 during trading on Wednesday, hitting $29.56. The stock had a trading volume of 2,818 shares, compared to its average volume of 89,517. The company has a market capitalization of $245.17 million, a PE ratio of -6.33 and a beta of 1.98. The firm has a 50 day moving average price of $30.48 and a 200 day moving average price of $25.88. Citi Trends, Inc. has a twelve month low of $13.65 and a twelve month high of $34.63.

Citi Trends (NASDAQ:CTRN - Get Free Report) last released its 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 return on equity of 27.90% and a negative net margin of 5.06%. The company had revenue of $201.73 million during the quarter, compared to the consensus estimate of $195.76 million. During the same period in the previous year, the company posted ($0.32) EPS.

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.