IndexIQ Advisors LLC Cuts Position in Citi Trends, Inc. (CTRN)

IndexIQ Advisors LLC decreased its holdings in Citi Trends, Inc. (NASDAQ:CTRN) by 7.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 68,004 shares of the company’s stock after selling 5,540 shares during the period. IndexIQ Advisors LLC’s holdings in Citi Trends were worth $1,387,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTRN. Garnet Equity Capital Holdings Inc. acquired a new stake in Citi Trends in the fourth quarter valued at approximately $2,412,000. Northern Trust Corp grew its position in shares of Citi Trends by 41.3% during the second quarter. Northern Trust Corp now owns 270,449 shares of the company’s stock worth $7,421,000 after buying an additional 79,112 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Citi Trends during the third quarter worth approximately $2,134,000. Northpointe Capital LLC grew its position in shares of Citi Trends by 35.4% during the third quarter. Northpointe Capital LLC now owns 220,166 shares of the company’s stock worth $6,334,000 after buying an additional 57,532 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in shares of Citi Trends by 36.7% during the third quarter. TIAA CREF Investment Management LLC now owns 178,913 shares of the company’s stock worth $5,147,000 after buying an additional 47,988 shares in the last quarter. Hedge funds and other institutional investors own 91.40% of the company’s stock.

A number of analysts have recently weighed in on CTRN shares. ValuEngine raised shares of Citi Trends from a “hold” rating to a “buy” rating in a research report on Wednesday, October 31st. BidaskClub cut Citi Trends from a “hold” rating to a “sell” rating in a research note on Friday, November 23rd.

NASDAQ:CTRN opened at $20.76 on Wednesday. Citi Trends, Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $34.90. The stock has a market cap of $266.17 million, a price-to-earnings ratio of 16.48 and a beta of 0.46.

Citi Trends (NASDAQ:CTRN) last released its earnings results on Friday, November 30th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.07). Citi Trends had a net margin of 2.47% and a return on equity of 10.15%. The business had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $180.90 million. During the same period last year, the firm earned $0.05 EPS. The company’s revenue was down .8% compared to the same quarter last year. As a group, equities research analysts forecast that Citi Trends, Inc. will post 1.69 earnings per share for the current year.

In other Citi Trends news, Director Jonathan Duskin sold 15,000 shares of Citi Trends stock in a transaction dated Tuesday, December 18th. The stock was sold at an average price of $19.63, for a total transaction of $294,450.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.41% of the company’s stock.

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Citi Trends Profile

Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, including fashion sportswear for men and women, as well as children, such as newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional and decorative home products, as well as beauty products, books, and toys.

Further Reading: What is an investor looking for in an SEC filing?

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Institutional Ownership by Quarter for Citi Trends (NASDAQ:CTRN)

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