Emerald Acquisition Ltd. bought a new stake in shares of Citi Trends Inc. (NASDAQ:CTRN) during the second quarter, Holdings Channel reports. The fund bought 174,564 shares of the company’s stock, valued at approximately $2,711,000. Emerald Acquisition Ltd. owned approximately 1.20% of Citi Trends as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of CTRN. Wedge Capital Management L L P NC boosted its stake in shares of Citi Trends by 22.4% in the second quarter. Wedge Capital Management L L P NC now owns 63,300 shares of the company’s stock valued at $983,000 after buying an additional 11,600 shares in the last quarter. Northpointe Capital LLC boosted its stake in shares of Citi Trends by 7.9% in the second quarter. Northpointe Capital LLC now owns 175,070 shares of the company’s stock valued at $2,719,000 after buying an additional 12,875 shares in the last quarter. Strs Ohio boosted its stake in shares of Citi Trends by 12.5% in the second quarter. Strs Ohio now owns 38,700 shares of the company’s stock valued at $601,000 after buying an additional 4,300 shares in the last quarter. Stoneridge Investment Partners LLC bought a new stake in shares of Citi Trends during the second quarter valued at $203,000. Finally, Bank of Montreal Can bought a new stake in shares of Citi Trends during the second quarter valued at $244,000. Institutional investors own 94.69% of the company’s stock.
Shares of Citi Trends Inc. (NASDAQ:CTRN) traded up 0.10% on Monday, hitting $19.77. The stock had a trading volume of 44,387 shares. The company has a 50-day moving average of $19.15 and a 200-day moving average of $17.54. The company has a market cap of $290.12 million, a P/E ratio of 22.94 and a beta of 0.32. Citi Trends Inc. has a 52-week low of $14.01 and a 52-week high of $27.75.
Citi Trends (NASDAQ:CTRN) last issued its earnings results on Wednesday, August 17th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. Citi Trends had a return on equity of 5.64% and a net margin of 1.86%. The firm had revenue of $155.30 million for the quarter. During the same period last year, the firm posted $0.01 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts anticipate that Citi Trends Inc. will post $1.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Tuesday, August 30th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, August 26th. This represents a $0.24 annualized dividend and a dividend yield of 1.21%. Citi Trends’s dividend payout ratio (DPR) is 27.59%.
Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Citi Trends from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Friday, August 19th. TheStreet lowered Citi Trends from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Finally, MKM Partners reaffirmed a “neutral” rating and set a $16.00 price target on shares of Citi Trends in a research report on Wednesday, August 17th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price 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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