Citi Trends, Inc. (NASDAQ:CTRN) Shares Bought by Solas Capital Management LLC

Solas Capital Management LLC raised its holdings in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 17.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,412 shares of the company's stock after acquiring an additional 22,650 shares during the period. Citi Trends makes up 2.6% of Solas Capital Management LLC's investment portfolio, making the stock its 14th largest position. Solas Capital Management LLC owned about 1.74% of Citi Trends worth $3,975,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. R Squared Ltd bought a new position in Citi Trends in the fourth quarter valued at $85,000. Wells Fargo & Company MN raised its holdings in shares of Citi Trends by 22.8% during the 4th quarter. Wells Fargo & Company MN now owns 3,745 shares of the company's stock valued at $98,000 after buying an additional 695 shares in the last quarter. MetLife Investment Management LLC bought a new stake in Citi Trends in the 4th quarter worth approximately $105,000. Jane Street Group LLC purchased a new stake in Citi Trends in the third quarter worth approximately $193,000. Finally, AlphaQuest LLC grew its position in Citi Trends by 287.5% during the fourth quarter. AlphaQuest LLC now owns 8,354 shares of the company's stock valued at $219,000 after acquiring an additional 6,198 shares during the last quarter.

Citi Trends Trading Down 0.6 %

NASDAQ:CTRN traded down $0.14 during mid-day trading on Thursday, reaching $22.19. The company's stock had a trading volume of 13,620 shares, compared to its average volume of 123,957. The stock has a market cap of $183.69 million, a P/E ratio of -7.23 and a beta of 2.02. The firm's fifty day moving average price is $21.35 and its two-hundred day moving average price is $22.72. Citi Trends, Inc. has a 12-month low of $13.66 and a 12-month high of $29.41.

Citi Trends (NASDAQ:CTRN - Get Free Report) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($1.55) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($1.73). Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%. The company had revenue of $211.17 million during the quarter, compared to analysts' expectations of $211.54 million. During the same quarter in the previous year, the company earned $0.53 EPS.

Analysts Set New Price Targets

Several research firms have weighed in on CTRN. DA Davidson reissued a "buy" rating and issued a $29.00 price target on shares of Citi Trends in a research note on Wednesday, March 19th. StockNews.com upgraded Citi Trends from a "sell" rating to a "hold" rating in a report on Friday, March 28th. Finally, Craig Hallum raised Citi Trends from a "hold" rating to a "buy" rating and set a $36.00 price target on the stock in a research note on Monday, February 10th.

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.