93,821 Shares in Citi Trends, Inc. (NASDAQ:CTRN) Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC bought a new position in shares of Citi Trends, Inc. (NASDAQ:CTRN) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 93,821 shares of the company’s stock, valued at approximately $1,723,000. Exchange Traded Concepts LLC owned about 1.09% of Citi Trends at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Long Focus Capital Management LLC grew its stake in Citi Trends by 24.9% during the 2nd quarter. Long Focus Capital Management LLC now owns 250,673 shares of the company’s stock worth $5,329,000 after buying an additional 50,000 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in Citi Trends during the 2nd quarter valued at about $208,000. Renaissance Technologies LLC purchased a new stake in Citi Trends during the 2nd quarter valued at about $584,000. Dimensional Fund Advisors LP grew its stake in Citi Trends by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company’s stock valued at $12,938,000 after purchasing an additional 37,107 shares during the last quarter. Finally, Anchor Capital Advisors LLC grew its stake in Citi Trends by 11.3% during the 2nd quarter. Anchor Capital Advisors LLC now owns 52,247 shares of the company’s stock valued at $1,111,000 after purchasing an additional 5,307 shares during the last quarter.

Insider Buying and Selling

In other Citi Trends news, CFO Heather L. Plutino purchased 3,573 shares of Citi Trends stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $13.99 per share, with a total value of $49,986.27. Following the acquisition, the chief financial officer now owns 21,316 shares of the company’s stock, valued at $298,210.84. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Heather L. Plutino bought 3,573 shares of Citi Trends stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $13.99 per share, with a total value of $49,986.27. Following the completion of the acquisition, the chief financial officer now directly owns 21,316 shares of the company’s stock, valued at $298,210.84. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kenneth Duane Seipel bought 25,000 shares of Citi Trends stock in a transaction on Wednesday, August 28th. The shares were purchased at an average cost of $14.39 per share, with a total value of $359,750.00. Following the acquisition, the chief executive officer now directly owns 282,139 shares of the company’s stock, valued at approximately $4,059,980.21. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 31,573 shares of company stock valued at $455,336. 3.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. DA Davidson dropped their price target on Citi Trends from $33.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. Craig Hallum dropped their price target on Citi Trends from $25.00 to $14.00 and set a “hold” rating on the stock in a research note on Wednesday, August 28th. Finally, StockNews.com downgraded Citi Trends from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th.

Citi Trends Stock Up 2.3 %

Shares of CTRN stock opened at $19.65 on Wednesday. The stock has a market cap of $168.89 million, a PE ratio of -18.19 and a beta of 2.40. The business has a 50-day simple moving average of $16.66 and a 200-day simple moving average of $20.06. Citi Trends, Inc. has a 52-week low of $13.65 and a 52-week high of $32.90.

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

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.