12,124 Shares in Citi Trends, Inc. $CTRN Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new stake in Citi Trends, Inc. (NASDAQ:CTRN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,124 shares of the company’s stock, valued at approximately $701,000.

Other hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in shares of Citi Trends by 143.3% during the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock valued at $33,000 after purchasing an additional 619 shares in the last quarter. New York State Common Retirement Fund increased its stake 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 buying an additional 700 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Citi Trends in the fourth quarter valued at approximately $51,000. Meeder Asset Management Inc. raised its holdings in Citi Trends by 277.1% in the 4th quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company’s stock valued at $68,000 after buying an additional 1,211 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Citi Trends by 46.2% during the 4th quarter. Wells Fargo & Company MN now owns 5,356 shares of the company’s stock worth $223,000 after buying an additional 1,693 shares during the period.

Citi Trends Trading Down 1.4%

Shares of NASDAQ CTRN opened at $70.91 on Thursday. The firm has a market capitalization of $590.68 million, a P/E ratio of 51.01 and a beta of 1.82. The firm’s 50-day moving average price is $63.48 and its 200-day moving average price is $51.85. Citi Trends, Inc. has a 1-year low of $29.20 and a 1-year high of $77.91.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.59. The firm had revenue of $230.86 million during the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.11 earnings per share.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. DA Davidson boosted their price objective 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. Wall Street Zen raised Citi Trends from a “hold” rating to a “buy” rating in a report on Monday, June 29th. Finally, Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $73.00.

About Citi Trends

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.