Garnet Equity Capital Holdings Inc. bought a new stake in Citi Trends, Inc. (NASDAQ:CTRN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 261,000 shares of the company’s stock, valued at approximately $6,906,000. Citi Trends comprises 5.5% of Garnet Equity Capital Holdings Inc.’s portfolio, making the stock its 4th largest position. Garnet Equity Capital Holdings Inc. owned about 1.90% of Citi Trends at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in CTRN. First Trust Advisors LP acquired a new stake in shares of Citi Trends during the third quarter valued at about $216,000. Paloma Partners Management Co acquired a new stake in shares of Citi Trends during the fourth quarter valued at about $216,000. Goldman Sachs Group Inc. acquired a new stake in shares of Citi Trends during the second quarter valued at about $242,000. The Manufacturers Life Insurance Company boosted its stake in shares of Citi Trends by 8.0% during the second quarter. The Manufacturers Life Insurance Company now owns 13,014 shares of the company’s stock valued at $276,000 after purchasing an additional 959 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Citi Trends by 129.7% during the third quarter. Wells Fargo & Company MN now owns 22,617 shares of the company’s stock valued at $449,000 after purchasing an additional 12,770 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.
Shares of Citi Trends, Inc. (NASDAQ:CTRN) opened at $21.81 on Monday. Citi Trends, Inc. has a 12 month low of $15.54 and a 12 month high of $28.12. The company has a market capitalization of $299.67, a PE ratio of 21.38 and a beta of 0.50.
Separately, BidaskClub lowered Citi Trends from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 6th.
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Citi Trends Profile
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.
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