Royce & Associates LP Decreases Stock Position in Citi Trends, Inc. (NASDAQ:CTRN)

Royce & Associates LP lessened its position in Citi Trends, Inc. (NASDAQ:CTRN) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 184,178 shares of the company’s stock after selling 11,932 shares during the quarter. Royce & Associates LP owned about 2.11% of Citi Trends worth $4,835,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CTRN. Empowered Funds LLC lifted its position in shares of Citi Trends by 5.3% in the third quarter. Empowered Funds LLC now owns 24,083 shares of the company’s stock valued at $442,000 after acquiring an additional 1,206 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Citi Trends in the third quarter valued at approximately $40,000. Quantbot Technologies LP lifted its position in shares of Citi Trends by 111.3% in the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after acquiring an additional 4,250 shares in the last quarter. Jane Street Group LLC purchased a new position in Citi Trends during the third quarter worth approximately $193,000. Finally, XTX Topco Ltd purchased a new position in Citi Trends during the third quarter worth approximately $339,000.

Insiders Place Their Bets

In other news, Director Jonathan Duskin sold 12,000 shares of Citi Trends stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $26.44, for a total value of $317,280.00. Following the completion of the sale, the director now directly owns 33,396 shares of the company’s stock, valued at approximately $882,990.24. The trade was a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is owned by insiders.

Citi Trends Stock Down 4.1 %

CTRN stock opened at $21.26 on Thursday. The business has a fifty day moving average of $25.29 and a two-hundred day moving average of $22.07. The stock has a market cap of $185.17 million, a price-to-earnings ratio of -6.93 and a beta of 2.29. Citi Trends, Inc. has a 52-week low of $13.66 and a 52-week high of $29.41.

Citi Trends (NASDAQ:CTRN) last posted its earnings results on Tuesday, March 18th. The company reported ($1.55) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($1.73). The business had revenue of $211.17 million for the quarter, compared to analyst estimates of $211.54 million. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%. During the same period last year, the business earned $0.53 EPS.

Analyst Ratings Changes

CTRN has been the topic of a number of analyst reports. DA Davidson reiterated a “buy” rating and set a $29.00 price objective on shares of Citi Trends in a research report on Wednesday. Craig Hallum upgraded Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Monday, February 10th. Finally, StockNews.com upgraded Citi Trends from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th.

Citi Trends 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.