Royce & Associates LP Purchases 10,000 Shares of Citi Trends, Inc. (NASDAQ:CTRN)

Royce & Associates LP raised its position in Citi Trends, Inc. (NASDAQ:CTRN) by 5.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 196,110 shares of the company’s stock after acquiring an additional 10,000 shares during the period. Royce & Associates LP owned approximately 2.28% of Citi Trends worth $3,603,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTRN. SG Americas Securities LLC bought a new position in Citi Trends in the 1st quarter valued at about $139,000. Deerfield Management Company L.P. Series C purchased a new stake in shares of Citi Trends in the second quarter worth approximately $208,000. Rhumbline Advisers lifted its holdings in shares of Citi Trends by 41,964.0% in the second quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock valued at $224,000 after purchasing an additional 10,491 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Citi Trends during the second quarter valued at approximately $584,000. Finally, Anchor Capital Advisors LLC boosted its position in shares of Citi Trends by 11.3% during the second quarter. Anchor Capital Advisors LLC now owns 52,247 shares of the company’s stock valued at $1,111,000 after buying an additional 5,307 shares during the last quarter.

Insider Activity at Citi Trends

In other news, CEO Kenneth Duane Seipel acquired 25,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were acquired at an average cost of $14.39 per share, for a total transaction of $359,750.00. Following the purchase, the chief executive officer now owns 282,139 shares of the company’s stock, valued at approximately $4,059,980.21. The trade was a 9.72 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Heather L. Plutino acquired 3,573 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average cost of $13.99 per share, for a total transaction of $49,986.27. Following the completion of the acquisition, the chief financial officer now owns 21,316 shares of the company’s stock, valued at approximately $298,210.84. The trade was a 20.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 31,573 shares of company stock worth $455,336. Insiders own 3.80% of the company’s stock.

Citi Trends Price Performance

Shares of Citi Trends stock opened at $16.33 on Tuesday. The stock has a fifty day moving average price of $18.51 and a 200-day moving average price of $19.33. The firm has a market cap of $140.72 million, a PE ratio of -6.09 and a beta of 2.40. Citi Trends, Inc. has a 1 year low of $13.65 and a 1 year high of $32.90.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, August 27th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.52) by ($1.42). Citi Trends had a negative return on equity of 12.62% and a negative net margin of 2.92%. The company had revenue of $176.55 million during the quarter.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com cut Citi Trends from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. DA Davidson cut their price target on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. Finally, Craig Hallum decreased their price objective on shares of Citi Trends from $25.00 to $14.00 and set a “hold” rating for the company in a research note on Wednesday, August 28th.

Citi Trends Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.