Citi Trends, Inc. (NASDAQ:CTRN) Short Interest Update

Citi Trends, Inc. (NASDAQ:CTRN) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 468,000 shares, an increase of 7.0% from the May 15th total of 437,300 shares. Based on an average daily volume of 99,700 shares, the short-interest ratio is presently 4.7 days. Currently, 3.8% of the company’s shares are short sold.

Several equities analysts recently issued reports on the stock. ValuEngine upgraded shares of Xylem from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. TheStreet lowered shares of ZovioInc . from a “c-” rating to a “d” rating in a report on Thursday, May 23rd. Finally, BidaskClub upgraded shares of Zai Lab from a “hold” rating to a “buy” rating in a report on Friday, April 5th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Citi Trends by 33.9% in the third quarter. JPMorgan Chase & Co. now owns 115,717 shares of the company’s stock valued at $3,329,000 after buying an additional 29,281 shares during the last quarter. Rhumbline Advisers grew its holdings in Citi Trends by 35.7% during the fourth quarter. Rhumbline Advisers now owns 18,693 shares of the company’s stock worth $381,000 after acquiring an additional 4,914 shares during the period. First Trust Advisors LP grew its holdings in Citi Trends by 18.8% during the fourth quarter. First Trust Advisors LP now owns 22,026 shares of the company’s stock worth $449,000 after acquiring an additional 3,478 shares during the period. BlackRock Inc. grew its holdings in Citi Trends by 1.9% during the fourth quarter. BlackRock Inc. now owns 1,146,882 shares of the company’s stock worth $23,384,000 after acquiring an additional 21,027 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Citi Trends by 3.7% during the fourth quarter. Bank of New York Mellon Corp now owns 128,804 shares of the company’s stock worth $2,627,000 after acquiring an additional 4,574 shares during the period. Hedge funds and other institutional investors own 92.12% of the company’s stock.

CTRN traded up $0.50 during midday trading on Friday, hitting $15.72. The company had a trading volume of 63,501 shares, compared to its average volume of 97,218. Citi Trends has a 52 week low of $13.41 and a 52 week high of $34.90. The company has a quick ratio of 0.67, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. The stock has a market cap of $189.94 million, a P/E ratio of 9.59 and a beta of 0.66. The stock’s 50 day simple moving average is $14.70.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Thursday, May 23rd. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.13). Citi Trends had a net margin of 2.34% and a return on equity of 9.68%. The company had revenue of $205.03 million during the quarter. Sell-side analysts forecast that Citi Trends will post 1.4 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Monday, June 3rd. Citi Trends’s payout ratio is 19.51%.

Citi Trends Company Profile

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

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