Citi Trends (CTRN) Hits New 52-Week High at $26.79

Citi Trends, Inc. (NASDAQ:CTRN) reached a new 52-week high on Thursday . The company traded as high as $26.79 and last traded at $25.71, with a volume of 227800 shares changing hands. The stock had previously closed at $25.56.

Separately, TheStreet lowered Citi Trends from a “b” rating to a “c+” rating in a research report on Wednesday, September 6th.

The stock has a market capitalization of $351.19, a PE ratio of 22.42 and a beta of 0.51.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Tuesday, November 21st. The company reported $0.05 EPS for the quarter. The business had revenue of $176.90 million during the quarter, compared to analyst estimates of $171.30 million. Citi Trends had a return on equity of 7.70% and a net margin of 2.04%. Citi Trends’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.06) EPS.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Monday, November 27th. Citi Trends’s payout ratio is 31.37%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. raised its position in Citi Trends by 12.3% during the 2nd quarter. Alliancebernstein L.P. now owns 1,418,449 shares of the company’s stock valued at $30,099,000 after purchasing an additional 155,880 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Citi Trends by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,256,094 shares of the company’s stock valued at $21,354,000 after purchasing an additional 10,098 shares during the last quarter. Vanguard Group Inc. raised its position in Citi Trends by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 601,986 shares of the company’s stock valued at $10,234,000 after purchasing an additional 36,687 shares during the last quarter. State Street Corp raised its position in Citi Trends by 5.7% during the 2nd quarter. State Street Corp now owns 296,756 shares of the company’s stock valued at $6,296,000 after purchasing an additional 15,901 shares during the last quarter. Finally, Algert Global LLC raised its position in Citi Trends by 136.1% during the 3rd quarter. Algert Global LLC now owns 233,938 shares of the company’s stock valued at $4,648,000 after purchasing an additional 134,839 shares during the last quarter. 86.45% of the stock is owned by institutional investors and hedge funds.

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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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