Spark Investment Management LLC reduced its position in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 28.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,848 shares of the company’s stock after selling 15,752 shares during the period. Spark Investment Management LLC’s holdings in Citi Trends were worth $769,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Quantamental Technologies LLC purchased a new position in Citi Trends during the fourth quarter valued at approximately $40,000. BNP Paribas Arbitrage SA grew its stake in Citi Trends by 53.7% during the first quarter. BNP Paribas Arbitrage SA now owns 2,506 shares of the company’s stock valued at $48,000 after acquiring an additional 876 shares in the last quarter. Legal & General Group Plc grew its stake in Citi Trends by 32.1% during the fourth quarter. Legal & General Group Plc now owns 2,542 shares of the company’s stock valued at $52,000 after acquiring an additional 618 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Citi Trends by 1,635.7% during the fourth quarter. Great West Life Assurance Co. Can now owns 2,725 shares of the company’s stock valued at $54,000 after acquiring an additional 2,568 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its stake in Citi Trends by 5,948.3% during the first quarter. Meeder Asset Management Inc. now owns 3,508 shares of the company’s stock valued at $69,000 after acquiring an additional 3,450 shares in the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:CTRN opened at $17.20 on Thursday. The company has a market cap of $216.45 million, a P/E ratio of 10.49 and a beta of 0.42. Citi Trends, Inc. has a 12 month low of $17.00 and a 12 month high of $34.90.
Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Friday, March 15th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $201.16 million during the quarter, compared to analysts’ expectations of $215.00 million. Citi Trends had a net margin of 2.78% and a return on equity of 10.67%. Citi Trends’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 earnings per share. As a group, equities analysts forecast that Citi Trends, Inc. will post 1.9 EPS for the current year.
In related news, SVP Christina Short sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $19.34, for a total transaction of $38,680.00. Following the completion of the transaction, the senior vice president now owns 9,324 shares of the company’s stock, valued at $180,326.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 7.19% of the stock is currently owned by insiders.
Several equities analysts recently commented on CTRN shares. ValuEngine cut shares of Citi Trends from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. BidaskClub cut shares of Citi Trends from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Finally, Sidoti started coverage on shares of Citi Trends in a research note on Friday, February 22nd. They set a “buy” rating and a $28.00 price objective for the company.
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Citi Trends Company Profile
Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, such as fashion sportswear for men and women, as well as children, including newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional bedroom, bathroom, and kitchen products, as well as beauty products and toys.
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