Anchor Capital Advisors LLC Raises Position in Citi Trends, Inc. (NASDAQ:CTRN)

Anchor Capital Advisors LLC increased its position in Citi Trends, Inc. (NASDAQ:CTRN) by 44.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,626 shares of the company’s stock after acquiring an additional 14,421 shares during the period. Anchor Capital Advisors LLC’s holdings in Citi Trends were worth $1,319,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. AWM Investment Company Inc. boosted its stake in Citi Trends by 3.4% in the 3rd quarter. AWM Investment Company Inc. now owns 265,768 shares of the company’s stock worth $5,905,000 after purchasing an additional 8,660 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Citi Trends in the third quarter valued at $229,000. Quadrature Capital Ltd lifted its holdings in shares of Citi Trends by 71.7% during the third quarter. Quadrature Capital Ltd now owns 28,241 shares of the company’s stock worth $628,000 after purchasing an additional 11,791 shares during the period. Ancora Advisors LLC acquired a new position in shares of Citi Trends during the 3rd quarter worth $280,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Citi Trends by 13.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 193,036 shares of the company’s stock valued at $4,289,000 after purchasing an additional 22,311 shares during the last quarter.

Insider Activity at Citi Trends

In other news, major shareholder Fund 1 Investments, Llc purchased 31,634 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $31.21 per share, with a total value of $987,297.14. Following the completion of the purchase, the insider now owns 1,470,780 shares of the company’s stock, valued at approximately $45,903,043.80. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders purchased 285,041 shares of company stock worth $7,634,314. Company insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Craig Hallum reaffirmed a “hold” rating and set a $27.00 price target (down from $28.00) on shares of Citi Trends in a report on Tuesday, March 19th. Benchmark restated a “buy” rating and issued a $35.00 target price on shares of Citi Trends in a research note on Wednesday, March 20th.

Citi Trends Price Performance

Citi Trends stock traded down $0.26 during mid-day trading on Tuesday, hitting $21.87. The stock had a trading volume of 10,211 shares, compared to its average volume of 76,037. The stock has a 50-day simple moving average of $26.98 and a two-hundred day simple moving average of $26.37. Citi Trends, Inc. has a 12 month low of $14.20 and a 12 month high of $32.90.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, March 19th. The company reported $0.53 earnings per share (EPS) for the quarter. The firm had revenue of $215.18 million for the quarter. Citi Trends had a negative net margin of 1.60% and a negative return on equity of 6.74%.

Citi Trends Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. It 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.