Jefferies Financial Group Inc. Acquires New Position in Citi Trends, Inc. $CTRN

Jefferies Financial Group Inc. acquired a new position in shares of Citi Trends, Inc. (NASDAQ:CTRN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 221,424 shares of the company’s stock, valued at approximately $11,417,000. Jefferies Financial Group Inc. owned 2.65% of Citi Trends as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CTRN. Hsbc Holdings PLC lifted its position in shares of Citi Trends by 2.4% during the 2nd quarter. Hsbc Holdings PLC now owns 14,521 shares of the company’s stock valued at $828,000 after acquiring an additional 336 shares during the period. Legal & General Group Plc bought a new position in Citi Trends during the second quarter worth $30,000. Allworth Financial LP acquired a new stake in Citi Trends in the second quarter worth $31,000. State of Wyoming grew its holdings in Citi Trends by 45.9% in the third quarter. State of Wyoming now owns 2,095 shares of the company’s stock worth $108,000 after purchasing an additional 659 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in Citi Trends by 40.5% in the first quarter. Meeder Asset Management Inc. now owns 2,315 shares of the company’s stock worth $100,000 after purchasing an additional 667 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Citi Trends from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Weiss Ratings cut shares of Citi Trends from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, November 4th. Finally, DA Davidson set a $81.00 target price on Citi Trends in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Citi Trends currently has an average rating of “Hold” and a consensus target price of $81.00.

Citi Trends Trading Up 1.8%

Shares of NASDAQ:CTRN opened at $46.38 on Thursday. The stock has a market cap of $386.81 million, a PE ratio of 41.42 and a beta of 1.85. The stock’s fifty day simple moving average is $52.51 and its two-hundred day simple moving average is $52.69. Citi Trends, Inc. has a 1-year low of $36.05 and a 1-year high of $77.91.

Citi Trends (NASDAQ:CTRN) last announced its earnings results on Tuesday, August 25th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.32) by $0.37. Citi Trends had a net margin of 0.84% and a return on equity of 8.11%. The company had revenue of $211.63 million during the quarter, compared to the consensus estimate of $211.60 million.

Insider Activity

In other Citi Trends news, EVP Lisa Powell sold 10,000 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $70.10, for a total value of $701,000.00. Following the completion of the sale, the executive vice president directly owned 13,970 shares of the company’s stock, valued at approximately $979,297. This represents a 41.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Katrina George sold 500 shares of the stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $50.57, for a total transaction of $25,285.00. Following the completion of the sale, the vice president owned 5,213 shares of the company’s stock, valued at approximately $263,621.41. This trade represents a 8.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 9.60% of the stock is currently owned by insiders.

Citi Trends Profile

Citi Trends, Inc. is a U.S. off-price retailer offering apparel, footwear, accessories, beauty products, home goods, toys and seasonal merchandise. Its stores focus on value-conscious shoppers, with product assortments for men, women and children. The company serves customers through retail stores across the United States, emphasizing neighborhoods with diverse and multicultural communities. Merchandise and selection may vary by store and season. Citi Trends traces its roots to Allied Department Stores, founded in 1946, and adopted the Citi Trends name in 2001.