Assenagon Asset Management S.A. Purchases New Shares in Citi Trends, Inc. $CTRN

Assenagon Asset Management S.A. purchased a new position in shares of Citi Trends, Inc. (NASDAQ:CTRN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 86,996 shares of the company’s stock, valued at approximately $3,616,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CTRN. JPMorgan Chase & Co. boosted its holdings in Citi Trends by 343.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,573 shares of the company’s stock valued at $421,000 after purchasing an additional 10,509 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Citi Trends during the 3rd quarter worth approximately $2,778,000. XTX Topco Ltd increased its holdings in shares of Citi Trends by 22.4% during the third quarter. XTX Topco Ltd now owns 19,825 shares of the company’s stock worth $615,000 after purchasing an additional 3,628 shares during the period. Susquehanna International Group LLP raised its position in shares of Citi Trends by 147.4% in the third quarter. Susquehanna International Group LLP now owns 41,905 shares of the company’s stock valued at $1,300,000 after buying an additional 24,965 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in shares of Citi Trends by 124.0% in the third quarter. Qube Research & Technologies Ltd now owns 98,909 shares of the company’s stock valued at $3,069,000 after buying an additional 54,761 shares in the last quarter.

Citi Trends Stock Performance

NASDAQ CTRN opened at $42.33 on Monday. The firm’s 50 day simple moving average is $45.57 and its 200 day simple moving average is $41.51. The firm has a market capitalization of $353.46 million, a price-to-earnings ratio of 71.75 and a beta of 2.06. Citi Trends, Inc. has a 1 year low of $16.82 and a 1 year high of $56.78.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, March 17th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.78 by $0.07. Citi Trends had a net margin of 0.64% and a negative return on equity of 4.85%. The business had revenue of $230.39 million during the quarter, compared to the consensus estimate of $227.42 million.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wall Street Zen downgraded Citi Trends from a “buy” rating to a “hold” rating in a research report on Monday, December 15th. Craig Hallum reaffirmed a “buy” rating on shares of Citi Trends in a report on Wednesday, March 18th. DA Davidson set a $68.00 target price on Citi Trends in a research report on Tuesday, March 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Citi Trends in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $68.00.

About Citi Trends

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.