Man Group plc Buys Shares of 48,550 Citi Trends, Inc. $CTRN

Man Group plc purchased a new position in shares of Citi Trends, Inc. (NASDAQ:CTRN) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 48,550 shares of the company’s stock, valued at approximately $2,808,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Citi Trends in the 2nd quarter valued at $29,400,000. Vanguard Group Inc. grew its holdings in shares of Citi Trends by 10.2% during the third quarter. Vanguard Group Inc. now owns 373,685 shares of the company’s stock worth $11,595,000 after buying an additional 34,450 shares in the last quarter. AWM Investment Company Inc. raised its position in shares of Citi Trends by 3.9% in the fourth quarter. AWM Investment Company Inc. now owns 241,657 shares of the company’s stock valued at $10,043,000 after buying an additional 9,180 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Citi Trends by 61.1% in the fourth quarter. Marshall Wace LLP now owns 197,641 shares of the company’s stock worth $8,214,000 after buying an additional 74,994 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Citi Trends by 239.6% in the fourth quarter. AQR Capital Management LLC now owns 182,133 shares of the company’s stock worth $7,569,000 after buying an additional 128,508 shares in the last quarter.

Citi Trends Stock Up 1.2%

NASDAQ CTRN opened at $68.07 on Tuesday. The business’s fifty day simple moving average is $65.64 and its 200-day simple moving average is $53.26. The firm has a market cap of $567.02 million, a PE ratio of 83.01 and a beta of 1.82. Citi Trends, Inc. has a 52 week low of $29.60 and a 52 week high of $77.91.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, August 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.37. Citi Trends had a net margin of 0.84% and a return on equity of 8.25%. The firm had revenue of $211.63 million during the quarter, compared to analyst estimates of $211.60 million.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CTRN. Wall Street Zen raised shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Monday, June 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Citi Trends in a research note on Wednesday, August 26th. Finally, DA Davidson set a $81.00 target price on Citi Trends in a report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.00.

About Citi Trends

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.