Jennison Associates LLC Increases Position in Citi Trends, Inc. (NASDAQ:CTRN)

Jennison Associates LLC raised its holdings in shares of Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 416,029 shares of the company's stock after buying an additional 39,751 shares during the period. Jennison Associates LLC owned about 4.87% of Citi Trends worth $11,765,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CTRN. Assenagon Asset Management S.A. bought a new stake in shares of Citi Trends during the third quarter valued at approximately $1,617,000. Barclays PLC raised its stake in Citi Trends by 4,172.0% in the third quarter. Barclays PLC now owns 41,481 shares of the company's stock worth $921,000 after buying an additional 40,510 shares in the last quarter. First Eagle Investment Management LLC bought a new position in Citi Trends in the third quarter worth approximately $2,254,000. Charles Schwab Investment Management Inc. raised its stake in Citi Trends by 13.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 193,036 shares of the company's stock worth $4,289,000 after buying an additional 22,311 shares in the last quarter. Finally, Citigroup Inc. raised its stake in Citi Trends by 60,229.1% in the third quarter. Citigroup Inc. now owns 33,181 shares of the company's stock worth $737,000 after buying an additional 33,126 shares in the last quarter.

Analyst Upgrades and Downgrades

CTRN has been the subject of a number of recent research reports. Craig Hallum reissued a "hold" rating and issued a $27.00 price objective (down previously from $28.00) on shares of Citi Trends in a research note on Tuesday, March 19th. Benchmark reissued a "buy" rating and issued a $35.00 price objective on shares of Citi Trends in a research note on Wednesday, March 20th.

Citi Trends Trading Up 3.4 %

Shares of CTRN stock traded up $0.74 during trading hours on Friday, reaching $22.52. 78,244 shares of the company's stock were exchanged, compared to its average volume of 76,447. The stock's 50 day moving average is $27.27 and its 200-day moving average is $26.34. The company has a market cap of $192.32 million, a price-to-earnings ratio of -14.96 and a beta of 2.37. Citi Trends, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $32.90.

Citi Trends (NASDAQ:CTRN - Get Free Report) last issued its quarterly earnings results on Tuesday, March 19th. The company reported $0.53 earnings per share (EPS) for the quarter. The business had revenue of $215.18 million for the quarter. Citi Trends had a negative return on equity of 6.74% and a negative net margin of 1.60%.

Insider Transactions at Citi Trends

In related news, major shareholder Fund 1 Investments, Llc acquired 70,804 shares of the company's stock in a transaction dated Thursday, February 29th. The shares were purchased at an average cost of $30.51 per share, with a total value of $2,160,230.04. Following the completion of the acquisition, the insider now directly owns 1,400,146 shares of the company's stock, valued at $42,718,454.46. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have acquired 285,041 shares of company stock valued at $7,634,314. Corporate insiders own 4.20% of the company's stock.

Citi Trends Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. It 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.