Paradigm Capital Management Inc. NY cut its stake in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 33.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 976,228 shares of the company’s stock after selling 490,672 shares during the quarter. Citi Trends makes up approximately 1.9% of Paradigm Capital Management Inc. NY’s holdings, making the stock its 18th biggest holding. Paradigm Capital Management Inc. NY owned about 6.63% of Citi Trends worth $20,716,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of CTRN. Acrospire Investment Management LLC purchased a new position in Citi Trends during the first quarter valued at approximately $109,000. Acadian Asset Management LLC increased its holdings in Citi Trends by 547.6% during the second quarter. Acadian Asset Management LLC now owns 6,172 shares of the company’s stock valued at $131,000 after buying an additional 5,219 shares during the period. American International Group Inc. increased its holdings in Citi Trends by 7.0% during the first quarter. American International Group Inc. now owns 8,858 shares of the company’s stock valued at $151,000 after buying an additional 582 shares during the period. Oxford Asset Management purchased a new position in Citi Trends during the first quarter valued at approximately $257,000. Finally, Credit Suisse AG increased its holdings in Citi Trends by 54.3% during the first quarter. Credit Suisse AG now owns 16,490 shares of the company’s stock valued at $280,000 after buying an additional 5,803 shares during the period. 90.76% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on CTRN shares. BidaskClub lowered shares of Citi Trends from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. ValuEngine raised shares of Citi Trends from a “hold” rating to a “buy” rating in a report on Friday, May 19th.
Shares of Citi Trends, Inc. (NASDAQ:CTRN) traded up 2.72% during trading on Monday, reaching $18.48. 13,184 shares of the company traded hands. The firm’s 50 day moving average price is $19.60 and its 200-day moving average price is $19.01. The company has a market capitalization of $265.76 million, a price-to-earnings ratio of 20.31 and a beta of 0.42. Citi Trends, Inc. has a 52 week low of $15.54 and a 52 week high of $22.73.
Citi Trends (NASDAQ:CTRN) last announced its earnings results on Wednesday, August 16th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.08 by $0.05. Citi Trends had a return on equity of 6.93% and a net margin of 1.88%. The business had revenue of $166.20 million for the quarter, compared to analysts’ expectations of $164.70 million. During the same period in the previous year, the company earned ($0.01) earnings per share. Citi Trends’s quarterly revenue was up 7.0% on a year-over-year basis. Equities analysts anticipate that Citi Trends, Inc. will post $1.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 29th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, August 25th. Citi Trends’s payout ratio is currently 35.16%.
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Citi Trends 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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