Cambridge Investment Research Advisors Inc. grew its stake in Citi Trends, Inc. (NASDAQ:CTRN) by 10.9% in the 4th quarter, Holdings Channel reports. The firm owned 30,934 shares of the company’s stock after purchasing an additional 3,040 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Citi Trends were worth $819,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Paloma Partners Management Co bought a new stake in shares of Citi Trends in the 4th quarter valued at approximately $216,000. MetLife Investment Advisors LLC bought a new stake in shares of Citi Trends in the 4th quarter valued at approximately $226,000. Macquarie Group Ltd. lifted its stake in shares of Citi Trends by 883.9% in the 4th quarter. Macquarie Group Ltd. now owns 9,839 shares of the company’s stock valued at $260,000 after purchasing an additional 8,839 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Citi Trends in the 3rd quarter valued at approximately $216,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Citi Trends by 129.7% in the 3rd quarter. Wells Fargo & Company MN now owns 22,617 shares of the company’s stock valued at $449,000 after purchasing an additional 12,770 shares during the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.
NASDAQ:CTRN opened at $32.00 on Monday. The company has a market capitalization of $439.68, a PE ratio of 25.40 and a beta of 0.22. Citi Trends, Inc. has a 1 year low of $15.54 and a 1 year high of $32.30.
Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Friday, March 16th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. The business had revenue of $212.14 million during the quarter, compared to analyst estimates of $211.00 million. Citi Trends had a return on equity of 8.39% and a net margin of 1.93%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. sell-side analysts predict that Citi Trends, Inc. will post 1.63 earnings per share for the current fiscal year.
Citi Trends announced that its Board of Directors has authorized a stock repurchase program on Friday, March 16th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 20th. Stockholders of record on Tuesday, March 6th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 5th. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. Citi Trends’s payout ratio is 25.40%.
In other news, VP Ivy D. Council sold 4,156 shares of the stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $30.71, for a total value of $127,630.76. Following the sale, the vice president now directly owns 80,984 shares in the company, valued at $2,487,018.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Christina Short sold 2,752 shares of the stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $30.91, for a total value of $85,064.32. Following the completion of the sale, the senior vice president now owns 50,078 shares in the company, valued at $1,547,910.98. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.
Several equities research analysts have recently issued reports on CTRN shares. BidaskClub lowered Citi Trends from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. MKM Partners raised Citi Trends from a “neutral” rating to a “buy” rating and raised their price objective for the company from $25.00 to $32.00 in a research note on Tuesday, March 20th.
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Citi Trends Company Profile
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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