Sierra Summit Advisors LLC Acquires Shares of 23,912 Citi Trends, Inc. $CTRN

Sierra Summit Advisors LLC acquired a new stake in shares of Citi Trends, Inc. (NASDAQ:CTRN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 23,912 shares of the company’s stock, valued at approximately $994,000. Sierra Summit Advisors LLC owned about 0.29% of Citi Trends as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Citi Trends in the 1st quarter valued at about $204,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Citi Trends by 17.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 64,248 shares of the company’s stock valued at $2,145,000 after purchasing an additional 9,380 shares in the last quarter. Invesco Ltd. increased its stake in shares of Citi Trends by 243.3% in the 2nd quarter. Invesco Ltd. now owns 103,965 shares of the company’s stock valued at $3,471,000 after purchasing an additional 73,678 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Citi Trends by 269.2% in the 2nd quarter. Marshall Wace LLP now owns 160,084 shares of the company’s stock valued at $5,345,000 after purchasing an additional 116,722 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Citi Trends in the 2nd quarter valued at about $594,000.

Insider Buying and Selling

In related news, Director Margaret L. Jenkins sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $45.91, for a total value of $91,820.00. Following the transaction, the director directly owned 14,163 shares in the company, valued at approximately $650,223.33. This represents a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CTRN shares. DA Davidson set a $68.00 price target on Citi Trends in a research note on Tuesday, March 17th. Craig Hallum restated a “buy” rating on shares of Citi Trends in a research note on Wednesday, March 18th. Finally, Weiss Ratings upgraded Citi Trends from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Citi Trends has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Citi Trends Price Performance

Shares of Citi Trends stock opened at $36.28 on Thursday. The stock has a market cap of $302.58 million, a P/E ratio of 61.49 and a beta of 1.93. The stock’s 50 day simple moving average is $45.61 and its 200-day simple moving average is $44.42. Citi Trends, Inc. has a 1-year low of $25.00 and a 1-year high of $56.78.

Citi Trends (NASDAQ:CTRN) last issued its earnings results on Tuesday, March 17th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.07. Citi Trends had a negative return on equity of 4.78% and a net margin of 0.64%.The business had revenue of $230.39 million for the quarter, compared to analysts’ expectations of $227.42 million.

Citi Trends Profile

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.