Los Angeles Capital Management LLC Invests $733,000 in Citi Trends, Inc. $CTRN

Los Angeles Capital Management LLC bought a new stake in shares of Citi Trends, Inc. (NASDAQ:CTRN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 21,938 shares of the company’s stock, valued at approximately $733,000.

A number of other institutional investors also recently bought and sold shares of the stock. State of Wyoming purchased a new position in Citi Trends during the first quarter worth $148,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Citi Trends in the first quarter valued at $204,000. Hsbc Holdings PLC lifted its holdings in shares of Citi Trends by 5.0% in the 1st quarter. Hsbc Holdings PLC now owns 10,328 shares of the company’s stock worth $223,000 after acquiring an additional 488 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Citi Trends during the 2nd quarter worth about $227,000. Finally, AlphaQuest LLC grew its holdings in Citi Trends by 27.0% during the 2nd quarter. AlphaQuest LLC now owns 9,313 shares of the company’s stock valued at $311,000 after purchasing an additional 1,978 shares during the last quarter.

Insider Buying and Selling

In other Citi Trends news, Director Margaret L. Jenkins sold 1,000 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $36.21, for a total transaction of $36,210.00. Following the transaction, the director directly owned 16,163 shares in the company, valued at $585,262.23. This trade represents a 5.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Citi Trends Price Performance

Citi Trends stock opened at $40.25 on Friday. The stock has a market cap of $334.32 million, a price-to-earnings ratio of -20.13 and a beta of 2.24. The firm has a 50-day moving average of $35.04 and a two-hundred day moving average of $31.71. Citi Trends, Inc. has a 1 year low of $16.18 and a 1 year high of $41.00.

Citi Trends (NASDAQ:CTRN) last issued its earnings results on Tuesday, January 12th. The company reported $1.22 EPS for the quarter. Citi Trends had a negative net margin of 2.13% and a negative return on equity of 21.25%. The business had revenue of $251.92 million for the quarter. 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.

Citi Trends Profile

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.