Acadian Asset Management LLC trimmed its holdings in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 86.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,696 shares of the company’s stock after selling 50,838 shares during the period. Acadian Asset Management LLC owned about 0.06% of Citi Trends worth $112,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its position in Citi Trends by 53.7% during the first quarter. BNP Paribas Arbitrage SA now owns 2,506 shares of the company’s stock valued at $48,000 after buying an additional 876 shares during the period. JPMorgan Chase & Co. boosted its position in Citi Trends by 4.2% during the second quarter. JPMorgan Chase & Co. now owns 75,968 shares of the company’s stock valued at $1,118,000 after buying an additional 3,070 shares during the period. Stone Ridge Asset Management LLC boosted its position in Citi Trends by 23.2% during the second quarter. Stone Ridge Asset Management LLC now owns 22,664 shares of the company’s stock valued at $331,000 after buying an additional 4,263 shares during the period. Bank of America Corp DE boosted its position in Citi Trends by 12.1% during the fourth quarter. Bank of America Corp DE now owns 40,640 shares of the company’s stock valued at $829,000 after buying an additional 4,377 shares during the period. Finally, LSV Asset Management boosted its position in Citi Trends by 4.0% during the first quarter. LSV Asset Management now owns 213,300 shares of the company’s stock valued at $4,118,000 after buying an additional 8,300 shares during the period. Institutional investors and hedge funds own 89.68% of the company’s stock.
NASDAQ CTRN opened at $19.32 on Friday. The company has a 50-day simple moving average of $15.84 and a two-hundred day simple moving average of $17.14. The company has a quick ratio of 0.67, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. Citi Trends, Inc. has a 12-month low of $13.41 and a 12-month high of $30.92. The firm has a market cap of $210.12 million, a price-to-earnings ratio of 11.78 and a beta of 0.55.
Citi Trends (NASDAQ:CTRN) last posted its earnings results on Thursday, August 22nd. The company reported $0.03 earnings per share for the quarter. The company had revenue of $182.83 million during the quarter. Citi Trends had a net margin of 1.96% and a return on equity of 8.31%. Equities analysts expect that Citi Trends, Inc. will post 1.4 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, August 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.66%. Citi Trends’s dividend payout ratio is currently 19.51%.
CTRN has been the subject of several analyst reports. ValuEngine upgraded shares of Citi Trends from a “sell” rating to a “hold” rating in a research report on Tuesday. TheStreet lowered shares of Citi Trends from a “b-” rating to a “c+” rating in a research report on Thursday, May 23rd.
In other news, Director Peter R. Sachse bought 9,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was bought at an average cost of $16.84 per share, for a total transaction of $151,560.00. Following the completion of the acquisition, the director now owns 13,390 shares in the company, valued at approximately $225,487.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.19% of the company’s stock.
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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