Dimensional Fund Advisors LP increased its stake in Citi Trends, Inc. (NASDAQ:CTRN) by 0.8% during the first quarter, Holdings Channel reports. The institutional investor owned 1,256,094 shares of the company’s stock after buying an additional 10,098 shares during the period. Dimensional Fund Advisors LP owned 0.09% of Citi Trends worth $21,354,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Highbridge Capital Management LLC bought a new position in shares of Citi Trends during the fourth quarter valued at $219,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Citi Trends during the first quarter valued at $750,000. Wedge Capital Management L L P NC raised its position in shares of Citi Trends by 29.0% in the first quarter. Wedge Capital Management L L P NC now owns 77,300 shares of the company’s stock valued at $1,314,000 after buying an additional 17,400 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Citi Trends by 60.6% in the first quarter. JPMorgan Chase & Co. now owns 50,403 shares of the company’s stock valued at $857,000 after buying an additional 19,021 shares in the last quarter. Finally, State Street Corp increased its position in Citi Trends by 2.8% in the fourth quarter. State Street Corp now owns 271,297 shares of the company’s stock worth $5,105,000 after buying an additional 7,484 shares during the last quarter. 90.92% of the stock is owned by institutional investors.
Citi Trends, Inc. (CTRN) opened at 20.44 on Thursday. The company has a market capitalization of $300.86 million, a P/E ratio of 22.36 and a beta of 0.33. Citi Trends, Inc. has a 52-week low of $15.54 and a 52-week high of $22.73. The stock has a 50 day moving average of $21.15 and a 200-day moving average of $18.79.
Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Wednesday, May 17th. The company reported $0.68 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.68. The firm had revenue of $200 million for the quarter, compared to analyst estimates of $197.10 million. Citi Trends had a net margin of 1.92% and a return on equity of 6.56%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. On average, equities analysts forecast that Citi Trends, Inc. will post $1.30 earnings per share for the current year.
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CTRN has been the topic of a number of recent research reports. BidaskClub downgraded shares of Citi Trends from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. ValuEngine upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research report on Friday, May 19th. Finally, TheStreet upgraded shares of Citi Trends from a “c+” rating to a “b-” rating in a research report on Tuesday, May 9th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $19.00.
About Citi Trends
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.
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