Royce & Associates LP Increases Stock Holdings in Citi Trends, Inc. (NASDAQ:CTRN)

Royce & Associates LP boosted its position in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 5.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,110 shares of the company’s stock after acquiring an additional 10,000 shares during the period. Royce & Associates LP’s holdings in Citi Trends were worth $3,603,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC bought a new position in Citi Trends in the 3rd quarter valued at $1,723,000. Long Focus Capital Management LLC raised its position in shares of Citi Trends by 24.9% in the second quarter. Long Focus Capital Management LLC now owns 250,673 shares of the company’s stock worth $5,329,000 after buying an additional 50,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Citi Trends by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company’s stock valued at $12,938,000 after buying an additional 37,107 shares during the period. Renaissance Technologies LLC purchased a new position in Citi Trends during the second quarter worth about $584,000. Finally, Rhumbline Advisers grew its position in Citi Trends by 41,964.0% during the second quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock worth $224,000 after buying an additional 10,491 shares in the last quarter.

Citi Trends Trading Down 3.0 %

Shares of NASDAQ:CTRN opened at $16.33 on Tuesday. Citi Trends, Inc. has a 12-month low of $13.65 and a 12-month high of $32.90. The stock’s 50-day moving average price is $18.51 and its 200-day moving average price is $19.33. The stock has a market capitalization of $140.72 million, a P/E ratio of -6.09 and a beta of 2.40.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, August 27th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($1.42). Citi Trends had a negative return on equity of 12.62% and a negative net margin of 2.92%. The company had revenue of $176.55 million for the quarter.

Wall Street Analysts Forecast Growth

CTRN has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Citi Trends from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Craig Hallum dropped their price objective on shares of Citi Trends from $25.00 to $14.00 and set a “hold” rating for the company in a report on Wednesday, August 28th. Finally, DA Davidson dropped their target price on Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th.

Insider Transactions at Citi Trends

In related news, CEO Kenneth Duane Seipel purchased 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were acquired at an average price of $14.39 per share, for a total transaction of $359,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 282,139 shares in the company, valued at approximately $4,059,980.21. The trade was a 9.72 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Heather L. Plutino acquired 3,573 shares of Citi Trends stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $13.99 per share, for a total transaction of $49,986.27. Following the completion of the transaction, the chief financial officer now owns 21,316 shares in the company, valued at approximately $298,210.84. This trade represents a 20.14 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 31,573 shares of company stock worth $455,336. Insiders own 3.80% of the company’s stock.

Citi Trends Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.