Assenagon Asset Management S.A. trimmed its stake in shares of Citi Trends, Inc. (NASDAQ:CTRN – Free Report) by 79.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,544 shares of the company’s stock after selling 67,294 shares during the quarter. Assenagon Asset Management S.A. owned about 0.20% of Citi Trends worth $461,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Empowered Funds LLC boosted its stake in Citi Trends by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 24,083 shares of the company’s stock valued at $442,000 after purchasing an additional 1,206 shares during the period. Quest Partners LLC acquired a new position in shares of Citi Trends during the third quarter worth approximately $40,000. Quantbot Technologies LP grew its holdings in Citi Trends by 111.3% in the 3rd quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock worth $148,000 after buying an additional 4,250 shares in the last quarter. Barclays PLC increased its position in Citi Trends by 19.9% in the 3rd quarter. Barclays PLC now owns 25,953 shares of the company’s stock valued at $478,000 after acquiring an additional 4,300 shares during the period. Finally, Deerfield Management Company L.P. Series C bought a new stake in Citi Trends during the 2nd quarter valued at $208,000.
Several research analysts have recently issued reports on the company. Craig Hallum increased their price target on Citi Trends from $14.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. DA Davidson raised their target price on shares of Citi Trends from $20.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, StockNews.com downgraded shares of Citi Trends from a “hold” rating to a “sell” rating in a research report on Friday, December 6th.
NASDAQ CTRN opened at $26.91 on Friday. The company has a market capitalization of $234.39 million, a P/E ratio of -8.77 and a beta of 2.27. Citi Trends, Inc. has a 12 month low of $13.65 and a 12 month high of $32.90. The company’s 50 day simple moving average is $24.37 and its 200 day simple moving average is $20.10.
Citi Trends (NASDAQ:CTRN – Get Free Report) last issued its earnings results on Tuesday, December 3rd. The company reported ($0.78) earnings per share (EPS) for the quarter. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%.
In related news, Director Jonathan Duskin sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $26.44, for a total transaction of $317,280.00. Following the completion of the sale, the director now directly owns 33,396 shares in the company, valued at approximately $882,990.24. This trade represents a 26.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.80% of the stock is owned by insiders.
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.
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