Citi Trends, Inc. $CTRN Shares Sold by Tectonic Advisors LLC

Tectonic Advisors LLC lowered its holdings in Citi Trends, Inc. (NASDAQ:CTRN) by 64.1% during the third quarter, Holdings Channel.com reports. The firm owned 9,029 shares of the company’s stock after selling 16,097 shares during the period. Tectonic Advisors LLC’s holdings in Citi Trends were worth $466,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Hsbc Holdings PLC increased its stake in shares of Citi Trends by 2.4% in the second quarter. Hsbc Holdings PLC now owns 14,521 shares of the company’s stock valued at $828,000 after buying an additional 336 shares in the last quarter. Strs Ohio raised its holdings in shares of Citi Trends by 7.1% in the first quarter. Strs Ohio now owns 7,500 shares of the company’s stock valued at $325,000 after buying an additional 500 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Citi Trends in the second quarter valued at about $30,000. Allworth Financial LP bought a new position in shares of Citi Trends in the second quarter valued at about $31,000. Finally, Meeder Asset Management Inc. lifted its position in Citi Trends by 40.5% during the 1st quarter. Meeder Asset Management Inc. now owns 2,315 shares of the company’s stock worth $100,000 after buying an additional 667 shares in the last quarter.

Citi Trends Price Performance

CTRN stock opened at $45.41 on Monday. The company has a 50 day moving average price of $58.24 and a 200 day moving average price of $55.73. Citi Trends, Inc. has a fifty-two week low of $34.52 and a fifty-two week high of $77.91. The stock has a market capitalization of $378.72 million, a PE ratio of 55.38 and a beta of 1.81.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Tuesday, August 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.37. The firm had revenue of $211.63 million for the quarter, compared to the consensus estimate of $211.60 million. Citi Trends had a return on equity of 8.11% and a net margin of 0.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CTRN shares. Weiss Ratings raised shares of Citi Trends from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 9th. Wall Street Zen cut shares of Citi Trends from a “buy” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, DA Davidson set a $81.00 price objective on shares of Citi Trends in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.00.

Insider Buying and Selling at Citi Trends

In other news, VP Katrina George sold 500 shares of the business’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $50.57, for a total transaction of $25,285.00. Following the completion of the sale, the vice president owned 5,213 shares in the company, valued at $263,621.41. The trade was a 8.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa Powell sold 10,000 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $70.10, for a total value of $701,000.00. Following the transaction, the executive vice president directly owned 13,970 shares in the company, valued at $979,297. This trade represents a 41.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is currently owned by company insiders.

Citi Trends Company Profile

Citi Trends, Inc is a value-oriented retailer focused on apparel, accessories and home-related merchandise for African American and Latinx families. The company operates under the Citi Trends name and offers products designed to reflect current fashion and lifestyle trends at accessible prices.

Its merchandise assortment includes clothing, footwear and accessories for women, men and children, as well as infant and toddler items. Citi Trends also sells beauty products, toys, home décor and other household merchandise.