Tectonic Advisors LLC Acquires 30,428 Shares of Citi Trends, Inc. $CTRN

Key Points

• Tectonic Advisors LLC boosted its stake in Citi Trends by 203.3% in Q4, buying 30,428 shares to hold 45,396 shares (about 0.54% of the company) valued at roughly $1.887 million.
• Other institutional investors — including Vanguard, Marshall Wace, UBS and Arrowstreet — have also increased positions recently, signaling rising institutional interest in the stock.
• Wall Street’s consensus is a “Hold” with an average price target of $68, and Citi Trends recently beat quarterly EPS estimates ($0.85 vs. $0.78).

Tectonic Advisors LLC boosted its position in shares of Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 203.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,396 shares of the company's stock after acquiring an additional 30,428 shares during the quarter. Tectonic Advisors LLC owned 0.54% of Citi Trends worth $1,887,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in 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 acquiring an additional 34,450 shares in the last quarter. General Equity Holdings LP raised its position in Citi Trends by 2.1% during the second quarter. General Equity Holdings LP now owns 172,229 shares of the company's stock worth $5,751,000 after acquiring an additional 3,461 shares in the last quarter. Marshall Wace LLP raised its position in Citi Trends by 269.2% during the second quarter. Marshall Wace LLP now owns 160,084 shares of the company's stock worth $5,345,000 after acquiring an additional 116,722 shares in the last quarter. UBS Group AG raised its position in Citi Trends by 478.3% during the third quarter. UBS Group AG now owns 122,631 shares of the company's stock worth $3,805,000 after acquiring an additional 101,426 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Citi Trends by 78.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 114,569 shares of the company's stock worth $3,555,000 after acquiring an additional 50,321 shares in the last quarter.

Insider Buying and Selling

In related news, Director Margaret L. Jenkins sold 2,000 shares of the firm's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $45.91, for a total transaction of $91,820.00. Following the transaction, the director directly owned 14,163 shares of the company's stock, valued at approximately $650,223.33. This trade represents a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CTRN. DA Davidson set a $68.00 price target on shares of Citi Trends in a research report on Tuesday, March 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Citi Trends in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Citi Trends from a "buy" rating to a "hold" rating in a research report on Monday, December 15th. Finally, Craig Hallum reaffirmed a "buy" rating on shares of Citi Trends in a research report on Wednesday, March 18th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $68.00.

Citi Trends Price Performance

Shares of CTRN opened at $44.85 on Monday. The firm has a market capitalization of $374.27 million, a PE ratio of 76.02 and a beta of 2.04. The company's 50-day moving average is $45.60 and its 200-day moving average is $42.27. Citi Trends, Inc. has a fifty-two week low of $18.50 and a fifty-two week high of $56.78.

Citi Trends (NASDAQ:CTRN - Get Free Report) last issued its quarterly earnings data on Tuesday, March 17th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. Citi Trends had a net margin of 0.64% and a negative return on equity of 4.85%. The company had revenue of $230.39 million for the quarter, compared to analyst estimates of $227.42 million.

Citi Trends Company Profile

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.

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