Dynamic Technology Lab Private Ltd Grows Holdings in Citi Trends, Inc. $CTRN

Dynamic Technology Lab Private Ltd raised its position in Citi Trends, Inc. (NASDAQ:CTRN) by 57.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,989 shares of the company’s stock after purchasing an additional 12,767 shares during the period. Dynamic Technology Lab Private Ltd owned about 0.42% of Citi Trends worth $1,454,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Citi Trends by 10.2% in the 3rd quarter. Vanguard Group Inc. now owns 373,685 shares of the company’s stock valued at $11,595,000 after purchasing an additional 34,450 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Citi Trends by 269.2% during the 2nd quarter. Marshall Wace LLP now owns 160,084 shares of the company’s stock valued at $5,345,000 after acquiring an additional 116,722 shares during the last quarter. UBS Group AG increased its stake in shares of Citi Trends by 478.3% during the 3rd quarter. UBS Group AG now owns 122,631 shares of the company’s stock valued at $3,805,000 after acquiring an additional 101,426 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Citi Trends by 78.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 114,569 shares of the company’s stock valued at $3,555,000 after acquiring an additional 50,321 shares during the last quarter. Finally, Hodges Capital Management Inc. increased its stake in shares of Citi Trends by 113.5% during the 4th quarter. Hodges Capital Management Inc. now owns 111,000 shares of the company’s stock valued at $4,613,000 after acquiring an additional 59,000 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CTRN. DA Davidson reaffirmed a “buy” rating and set a $68.00 price objective on shares of Citi Trends in a research note on Wednesday, June 3rd. Weiss Ratings raised shares of Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Wall Street Zen raised shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Craig Hallum reaffirmed a “buy” rating on shares of Citi Trends in a research note on Wednesday, March 18th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Citi Trends presently has an average rating of “Moderate Buy” and an average target price of $68.00.

Insider Transactions at Citi Trends

In related news, Director Margaret L. Jenkins sold 2,000 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $45.91, for a total transaction of $91,820.00. Following the completion of the sale, the director owned 14,163 shares of the company’s stock, valued at approximately $650,223.33. This represents a 12.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.60% of the company’s stock.

Citi Trends Price Performance

NASDAQ CTRN opened at $50.64 on Friday. Citi Trends, Inc. has a 12 month low of $28.25 and a 12 month high of $56.78. The company has a 50-day moving average of $45.48 and a 200-day moving average of $45.11. The company has a market cap of $421.83 million, a P/E ratio of 36.43 and a beta of 1.88.

Citi Trends (NASDAQ:CTRN) last posted its earnings results on Tuesday, June 2nd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.59. The firm had revenue of $230.86 million during the quarter, compared to the consensus estimate of $217.42 million. Citi Trends had a net margin of 1.42% and a return on equity of 2.09%. During the same quarter in the prior year, the company earned $0.11 EPS.

About Citi Trends

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.