Public Employees Retirement System of Ohio Invests $635,000 in Citi Trends, Inc. $CTRN

Public Employees Retirement System of Ohio purchased a new position in shares of Citi Trends, Inc. (NASDAQ:CTRN) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,978 shares of the company’s stock, valued at approximately $635,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTRN. Legal & General Group Plc acquired a new position in Citi Trends in the 2nd quarter valued at $30,000. Allworth Financial LP acquired a new stake in shares of Citi Trends in the 2nd quarter worth $31,000. BNP Paribas Financial Markets lifted its stake in shares of Citi Trends by 143.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock worth $33,000 after acquiring an additional 619 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Citi Trends by 175.0% in the fourth quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock valued at $46,000 after acquiring an additional 700 shares in the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Citi Trends in the fourth quarter valued at about $51,000.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CTRN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Citi Trends in a research note on Wednesday, August 26th. DA Davidson set a $81.00 price objective on Citi Trends in a report on Wednesday, August 26th. Finally, Wall Street Zen upgraded Citi Trends from a “hold” rating to a “buy” rating in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.00.

Citi Trends Stock Performance

Citi Trends stock opened at $66.21 on Thursday. The company has a market cap of $551.53 million, a P/E ratio of 80.74 and a beta of 1.82. Citi Trends, Inc. has a one year low of $29.60 and a one year high of $77.91. The business has a fifty day moving average of $67.09 and a two-hundred day moving average of $54.41.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, August 25th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.37. Citi Trends had a net margin of 0.84% and a return on equity of 8.25%. The business had revenue of $211.63 million for the quarter, compared to analysts’ expectations of $211.60 million.

Insiders Place Their Bets

In other Citi Trends news, EVP Lisa Powell sold 10,000 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $70.10, for a total value of $701,000.00. Following the completion of the transaction, the executive vice president directly owned 13,970 shares of the company’s stock, valued at approximately $979,297. This trade represents a 41.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.60% of the company’s stock.

Citi Trends Company 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.