47,560 Shares in Citi Trends, Inc. $CTRN Bought by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY bought a new stake in Citi Trends, Inc. (NASDAQ:CTRN) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 47,560 shares of the company’s stock, valued at approximately $2,751,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTRN. BlackRock Inc. bought a new position in Citi Trends during the 2nd quarter valued at approximately $29,400,000. Vanguard Group Inc. lifted its position in Citi Trends by 10.2% during the third quarter. Vanguard Group Inc. now owns 373,685 shares of the company’s stock valued at $11,595,000 after buying an additional 34,450 shares during the period. AWM Investment Company Inc. lifted its position in Citi Trends by 3.9% during the 4th quarter. AWM Investment Company Inc. now owns 241,657 shares of the company’s stock valued at $10,043,000 after acquiring an additional 9,180 shares during the period. Marshall Wace LLP boosted its position in shares of Citi Trends by 61.1% in the 4th quarter. Marshall Wace LLP now owns 197,641 shares of the company’s stock worth $8,214,000 after purchasing an additional 74,994 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Citi Trends by 239.6% in the fourth quarter. AQR Capital Management LLC now owns 182,133 shares of the company’s stock worth $7,569,000 after acquiring an additional 128,508 shares in the last quarter.

Citi Trends Stock Performance

CTRN stock opened at $74.35 on Tuesday. The company has a market capitalization of $619.34 million, a PE ratio of 53.49 and a beta of 1.82. The company’s fifty day moving average price is $64.73 and its 200-day moving average price is $52.44. Citi Trends, Inc. has a one year low of $29.60 and a one year high of $77.91.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CTRN shares. Weiss Ratings upgraded shares of Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. DA Davidson increased 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. Finally, Wall Street Zen upgraded Citi Trends from a “hold” rating to a “buy” rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Citi Trends presently has an average rating of “Moderate Buy” and an average price target of $73.00.

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.