Dimensional Fund Advisors LP Sells 36,974 Shares of Citi Trends, Inc. $CTRN

Dimensional Fund Advisors LP lowered its stake in Citi Trends, Inc. (NASDAQ:CTRN) by 10.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 327,769 shares of the company’s stock after selling 36,974 shares during the period. Dimensional Fund Advisors LP’s holdings in Citi Trends were worth $14,198,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Tectonic Advisors LLC boosted its holdings in Citi Trends by 203.3% during the 4th quarter. Tectonic Advisors LLC now owns 45,396 shares of the company’s stock valued at $1,887,000 after acquiring an additional 30,428 shares during the period. Sierra Summit Advisors LLC purchased a new position in Citi Trends in the 4th quarter worth approximately $994,000. Dynamic Technology Lab Private Ltd increased its stake in Citi Trends by 57.5% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 34,989 shares of the company’s stock worth $1,454,000 after purchasing an additional 12,767 shares during the period. Hodges Capital Management Inc. increased its stake in Citi Trends by 12.7% in the 1st quarter. Hodges Capital Management Inc. now owns 125,100 shares of the company’s stock worth $5,419,000 after purchasing an additional 14,100 shares during the period. Finally, EVR Research LP bought a new stake in Citi Trends in the fourth quarter valued at approximately $1,247,000.

Citi Trends Price Performance

NASDAQ CTRN opened at $72.69 on Friday. The stock has a market capitalization of $605.51 million, a PE ratio of 52.30 and a beta of 1.82. Citi Trends, Inc. has a 1 year low of $29.20 and a 1 year high of $73.39. The business’s 50-day moving average is $58.89 and its 200 day moving average is $50.13.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.59. The business had revenue of $230.86 million during the quarter, compared to analyst estimates of $217.42 million. Citi Trends had a return on equity of 2.09% and a net margin of 1.42%.During the same quarter in the prior year, the company posted $0.11 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CTRN. Weiss Ratings raised Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. DA Davidson lifted their target price on shares of Citi Trends from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Wall Street Zen upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a report on Monday, June 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.