AllianceBernstein LP recently stated that they own a 10% stake in Citi Trends Inc. (NASDAQ:CTRN) in a Schedule 13G/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Friday, October 7th. The investor owns 1,494,417 shares of the stock valued at approximately $29,096,299. The disclosure is available through EDGAR at this link.
Several other hedge funds also recently added to or reduced their stakes in the stock. Paradigm Capital Management Inc. NY raised its stake in Citi Trends by 37.7% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,311,982 shares of the company’s stock valued at $20,375,000 after buying an additional 358,869 shares in the last quarter. Royce & Associates LP raised its stake in shares of Citi Trends by 24.3% in the second quarter. Royce & Associates LP now owns 328,973 shares of the company’s stock worth $5,109,000 after buying an additional 64,300 shares during the period. SECOR Capital Advisors LP raised its stake in shares of Citi Trends by 27.0% in the second quarter. SECOR Capital Advisors LP now owns 20,964 shares of the company’s stock worth $325,000 after buying an additional 4,457 shares during the period. Pacific Ridge Capital Partners LLC raised its stake in shares of Citi Trends by 44.2% in the second quarter. Pacific Ridge Capital Partners LLC now owns 64,540 shares of the company’s stock worth $1,002,000 after buying an additional 19,780 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in shares of Citi Trends by 6.7% in the first quarter. Panagora Asset Management Inc. now owns 201,522 shares of the company’s stock worth $3,593,000 after buying an additional 12,577 shares during the period. Institutional investors own 94.69% of the company’s stock.
Citi Trends Inc. (NASDAQ:CTRN) traded up 0.67% during trading on Friday, reaching $19.60. 44,284 shares of the company’s stock were exchanged. Citi Trends Inc. has a 12 month low of $14.01 and a 12 month high of $27.75. The stock has a market cap of $287.63 million, a PE ratio of 22.74 and a beta of 0.34. The firm has a 50 day moving average of $19.69 and a 200-day moving average of $17.62.
Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data on Wednesday, August 17th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05. The firm earned $155.30 million during the quarter. Citi Trends had a return on equity of 5.64% and a net margin of 1.86%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the company posted $0.01 EPS. On average, equities research analysts anticipate that Citi Trends Inc. will post $1.00 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Tuesday, August 30th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, August 26th. Citi Trends’s dividend payout ratio (DPR) is presently 27.59%.
CTRN has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Citi Trends from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 19th. MKM Partners restated a “neutral” rating and set a $16.00 price target on shares of Citi Trends in a research note on Wednesday, August 17th. Finally, TheStreet lowered shares of Citi Trends from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.50.
Citi Trends Company 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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