Rafferty Asset Management LLC raised its holdings in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 72.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,932 shares of the company’s stock after purchasing an additional 5,023 shares during the quarter. Rafferty Asset Management LLC’s holdings in Citi Trends were worth $1,038,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Stelac Advisory Services LLC grew its stake in Citi Trends by 13.2% during the 2nd quarter. Stelac Advisory Services LLC now owns 7,653 shares of the company’s stock valued at $666,000 after purchasing an additional 894 shares in the last quarter. Jaffetilchin Investment Partners LLC grew its stake in Citi Trends by 265.2% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 9,290 shares of the company’s stock valued at $808,000 after purchasing an additional 6,746 shares in the last quarter. ClariVest Asset Management LLC acquired a new stake in Citi Trends during the 2nd quarter valued at approximately $749,000. Swiss National Bank acquired a new stake in Citi Trends during the 2nd quarter valued at approximately $1,714,000. Finally, American Century Companies Inc. grew its stake in Citi Trends by 37.2% during the 2nd quarter. American Century Companies Inc. now owns 25,054 shares of the company’s stock valued at $2,180,000 after purchasing an additional 6,787 shares in the last quarter. Hedge funds and other institutional investors own 96.85% of the company’s stock.
In other Citi Trends news, SVP James A. Dunn sold 20,000 shares of Citi Trends stock in a transaction on Friday, September 3rd. The stock was sold at an average price of $87.71, for a total transaction of $1,754,200.00. Following the sale, the senior vice president now owns 66,369 shares of the company’s stock, valued at approximately $5,821,224.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jason Moschner sold 700 shares of Citi Trends stock in a transaction on Friday, August 27th. The shares were sold at an average price of $84.25, for a total value of $58,975.00. Following the sale, the vice president now directly owns 2,552 shares in the company, valued at approximately $215,006. The disclosure for this sale can be found here. In the last three months, insiders sold 24,200 shares of company stock worth $2,096,290. Company insiders own 6.20% of the company’s stock.
Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Monday, August 23rd. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.93. The business had revenue of $237.28 million for the quarter, compared to the consensus estimate of $227.20 million. Citi Trends had a return on equity of 44.49% and a net margin of 7.02%. As a group, sell-side analysts forecast that Citi Trends, Inc. will post 6.5 EPS for the current year.
Several research analysts have recently commented on the company. Zacks Investment Research upgraded Citi Trends from a “hold” rating to a “strong-buy” rating and set a $96.00 target price for the company in a research report on Friday, August 27th. Craig Hallum lifted their target price on Citi Trends from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, August 25th.
About Citi Trends
Citi Trends, Inc engages in the retail of urban fashion apparel, accessories, and home decor. It offers products under its Citi Steps and Red Ape brands. The company was founded in 1946 and is headquartered in Savannah, GA.
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