Los Angeles Capital Management LLC Takes Position in Citi Trends, Inc. $CTRN

Los Angeles Capital Management LLC bought a new stake in shares of Citi Trends, Inc. (NASDAQ:CTRN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 21,938 shares of the company’s stock, valued at approximately $733,000. Los Angeles Capital Management LLC owned approximately 0.26% of Citi Trends as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Hsbc Holdings PLC raised its holdings in Citi Trends by 5.0% during the first quarter. Hsbc Holdings PLC now owns 10,328 shares of the company’s stock valued at $223,000 after acquiring an additional 488 shares during the period. Bank of New York Mellon Corp grew its position in shares of Citi Trends by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 16,220 shares of the company’s stock worth $359,000 after purchasing an additional 717 shares in the last quarter. American Century Companies Inc. raised its stake in Citi Trends by 10.5% during the 1st quarter. American Century Companies Inc. now owns 14,470 shares of the company’s stock valued at $320,000 after purchasing an additional 1,371 shares during the period. AlphaQuest LLC lifted its holdings in Citi Trends by 27.0% in the 2nd quarter. AlphaQuest LLC now owns 9,313 shares of the company’s stock worth $311,000 after purchasing an additional 1,978 shares in the last quarter. Finally, AWM Investment Company Inc. lifted its holdings in Citi Trends by 1.6% in the 1st quarter. AWM Investment Company Inc. now owns 232,477 shares of the company’s stock worth $5,146,000 after purchasing an additional 3,694 shares in the last quarter.

Wall Street Analyst Weigh In

CTRN has been the subject of a number of research analyst reports. DA Davidson increased their price objective on shares of Citi Trends from $40.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Wall Street Zen upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Citi Trends in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Citi Trends presently has an average rating of “Hold” and an average target price of $39.50.

Insider Buying and Selling at Citi Trends

In other news, Director Margaret L. Jenkins sold 1,000 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $36.21, for a total value of $36,210.00. Following the sale, the director directly owned 16,163 shares in the company, valued at $585,262.23. The trade was a 5.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 10.70% of the stock is currently owned by company insiders.

Citi Trends Price Performance

Shares of CTRN opened at $40.25 on Friday. The stock has a market capitalization of $334.32 million, a price-to-earnings ratio of -20.13 and a beta of 2.24. Citi Trends, Inc. has a 1 year low of $16.18 and a 1 year high of $41.00. The business’s 50 day simple moving average is $35.04 and its 200-day simple moving average is $31.71.

Citi Trends (NASDAQ:CTRN) last posted its earnings results on Tuesday, January 12th. The company reported $1.22 earnings per share for the quarter. The firm had revenue of $251.92 million during the quarter. Citi Trends had a negative net margin of 2.13% and a negative return on equity of 21.25%. Citi Trends has set its FY 2020
Pre-Market guidance at 1.85-1.95 EPS. Q4 2020
Pre-Market guidance at 1.22-1.32 EPS.

About Citi Trends

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.