Sei Investments Co. Has $1.97 Million Stock Position in Citi Trends, Inc. $CTRN

Sei Investments Co. grew its holdings in Citi Trends, Inc. (NASDAQ:CTRN) by 101.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,536 shares of the company’s stock after acquiring an additional 22,964 shares during the quarter. Sei Investments Co.’s holdings in Citi Trends were worth $1,973,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CTRN. BNP Paribas Financial Markets raised its stake in Citi Trends by 143.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock worth $33,000 after purchasing an additional 619 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Citi Trends by 175.0% during the 4th quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock worth $46,000 after purchasing an additional 700 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Citi Trends during the 4th quarter worth approximately $51,000. Meeder Asset Management Inc. increased its holdings in shares of Citi Trends by 277.1% during the fourth quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company’s stock worth $68,000 after purchasing an additional 1,211 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Citi Trends by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 5,356 shares of the company’s stock worth $223,000 after purchasing an additional 1,693 shares during the period.

Citi Trends Price Performance

Citi Trends stock opened at $72.69 on Monday. The stock has a market cap of $605.51 million, a PE ratio of 52.30 and a beta of 1.82. Citi Trends, Inc. has a 12-month low of $29.20 and a 12-month high of $73.39. The business’s 50-day moving average price is $58.89 and its two-hundred day moving average price is $50.15.

Citi Trends (NASDAQ:CTRN) last posted its earnings results on Tuesday, June 2nd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.59. Citi Trends had a net margin of 1.42% and a return on equity of 2.09%. The firm had revenue of $230.86 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same quarter in the prior year, the business earned $0.11 earnings per share.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. DA Davidson boosted their price target on Citi Trends from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Wall Street Zen raised Citi Trends from a “hold” rating to a “buy” rating in a report on Monday, June 29th. Finally, Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Citi Trends presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

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.