Wedge Capital Management L L P NC Acquires 2,832 Shares of Citi Trends, Inc. (CTRN)

Wedge Capital Management L L P NC lifted its holdings in Citi Trends, Inc. (NASDAQ:CTRN) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,610 shares of the company’s stock after purchasing an additional 2,832 shares during the period. Wedge Capital Management L L P NC’s holdings in Citi Trends were worth $1,514,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Acadian Asset Management LLC lifted its stake in shares of Citi Trends by 2.5% in the 3rd quarter. Acadian Asset Management LLC now owns 97,465 shares of the company’s stock worth $2,805,000 after purchasing an additional 2,343 shares during the period. Northern Trust Corp raised its stake in Citi Trends by 1.3% during the 1st quarter. Northern Trust Corp now owns 191,337 shares of the company’s stock worth $5,914,000 after acquiring an additional 2,379 shares during the period. First Trust Advisors LP raised its stake in Citi Trends by 18.0% during the 2nd quarter. First Trust Advisors LP now owns 15,626 shares of the company’s stock worth $429,000 after acquiring an additional 2,387 shares during the period. Alambic Investment Management L.P. raised its stake in Citi Trends by 7.7% during the 2nd quarter. Alambic Investment Management L.P. now owns 59,010 shares of the company’s stock worth $1,619,000 after acquiring an additional 4,239 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in Citi Trends by 7.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 72,941 shares of the company’s stock worth $2,002,000 after acquiring an additional 5,090 shares during the period. Hedge funds and other institutional investors own 94.70% of the company’s stock.

NASDAQ CTRN opened at $26.55 on Thursday. Citi Trends, Inc. has a 12 month low of $20.03 and a 12 month high of $34.90. The company has a market cap of $344.11 million, a price-to-earnings ratio of 21.07 and a beta of 0.72.

Citi Trends (NASDAQ:CTRN) last released its earnings results on Thursday, August 23rd. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.17. Citi Trends had a net margin of 2.61% and a return on equity of 10.59%. The company had revenue of $182.00 million for the quarter, compared to analysts’ expectations of $178.50 million. During the same quarter last year, the business earned $0.03 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts forecast that Citi Trends, Inc. will post 1.7 earnings per share for the current year.

In other Citi Trends news, SVP Ivy D. Council sold 3,723 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $33.02, for a total transaction of $122,933.46. Following the completion of the sale, the senior vice president now directly owns 77,261 shares of the company’s stock, valued at approximately $2,551,158.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan Duskin sold 10,800 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $32.53, for a total transaction of $351,324.00. Following the sale, the director now directly owns 5,009 shares of the company’s stock, valued at $162,942.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,257 shares of company stock worth $660,268. 8.41% of the stock is owned by company insiders.

A number of equities research analysts have commented on CTRN shares. ValuEngine upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. BidaskClub cut shares of Citi Trends from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th.

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About Citi Trends

Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, including fashion sportswear for men and women, as well as children, such as newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional and decorative home products, as well as beauty products, books, and toys.

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Institutional Ownership by Quarter for Citi Trends (NASDAQ:CTRN)

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