Rhumbline Advisers Has $224,000 Holdings in Citi Trends, Inc. (NASDAQ:CTRN)

Rhumbline Advisers grew its position in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 41,964.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 10,516 shares of the company’s stock after buying an additional 10,491 shares during the quarter. Rhumbline Advisers’ holdings in Citi Trends were worth $224,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Citi Trends in the 1st quarter valued at $139,000. Empowered Funds LLC grew its holdings in shares of Citi Trends by 8.0% during the first quarter. Empowered Funds LLC now owns 21,257 shares of the company’s stock worth $577,000 after purchasing an additional 1,575 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Citi Trends by 22.1% in the fourth quarter. Franklin Resources Inc. now owns 50,197 shares of the company’s stock valued at $1,420,000 after buying an additional 9,074 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Citi Trends by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 197,815 shares of the company’s stock valued at $5,594,000 after buying an additional 4,779 shares during the last quarter. Finally, Fund 1 Investments LLC lifted its position in Citi Trends by 55.6% during the 4th quarter. Fund 1 Investments LLC now owns 1,329,342 shares of the company’s stock worth $37,594,000 after buying an additional 474,736 shares in the last quarter.

Insider Buying and Selling at Citi Trends

In other news, major shareholder Fund 1 Investments, Llc purchased 15,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were purchased at an average price of $20.38 per share, for a total transaction of $305,700.00. Following the transaction, the insider now owns 2,556,986 shares of the company’s stock, valued at $52,111,374.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Fund 1 Investments, Llc purchased 15,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were acquired at an average cost of $20.38 per share, with a total value of $305,700.00. Following the purchase, the insider now owns 2,556,986 shares in the company, valued at $52,111,374.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kenneth Duane Seipel bought 86,998 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were bought at an average cost of $18.96 per share, for a total transaction of $1,649,482.08. Following the transaction, the chief executive officer now owns 123,916 shares of the company’s stock, valued at $2,349,447.36. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 278,699 shares of company stock worth $5,181,338. 3.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com downgraded shares of Citi Trends from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Benchmark reiterated a “buy” rating and issued a $35.00 price objective on shares of Citi Trends in a research report on Wednesday, June 5th. Craig Hallum reduced their price objective on Citi Trends from $25.00 to $14.00 and set a “hold” rating for the company in a research report on Wednesday, August 28th. Finally, DA Davidson lowered their price objective on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th.

Citi Trends Stock Performance

Shares of Citi Trends stock opened at $18.50 on Friday. Citi Trends, Inc. has a 52-week low of $13.65 and a 52-week high of $32.90. The stock has a market cap of $159.01 million, a PE ratio of -17.13 and a beta of 2.39. The firm has a 50-day moving average of $16.59 and a 200-day moving average of $20.94.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, August 27th. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($1.42). The business had revenue of $176.55 million for the quarter. Citi Trends had a negative return on equity of 12.62% and a negative net margin of 2.92%.

Citi Trends Company Profile

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.