Hodges Capital Management Inc. Acquires 14,100 Shares of Citi Trends, Inc. $CTRN

Hodges Capital Management Inc. grew its stake in Citi Trends, Inc. (NASDAQ:CTRN) by 12.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,100 shares of the company’s stock after acquiring an additional 14,100 shares during the period. Hodges Capital Management Inc. owned 1.50% of Citi Trends worth $5,419,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. bought a new position in shares of Citi Trends in the 4th quarter valued at about $3,616,000. Tectonic Advisors LLC increased its stake in shares of Citi Trends by 203.3% during the 4th quarter. Tectonic Advisors LLC now owns 45,396 shares of the company’s stock worth $1,887,000 after purchasing an additional 30,428 shares during the last quarter. Sierra Summit Advisors LLC bought a new stake in shares of Citi Trends in the 4th quarter valued at about $994,000. Dynamic Technology Lab Private Ltd raised its holdings in shares of Citi Trends by 57.5% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 34,989 shares of the company’s stock valued at $1,454,000 after purchasing an additional 12,767 shares during the period. Finally, EVR Research LP acquired a new stake in Citi Trends in the 4th quarter valued at about $1,247,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CTRN. Wall Street Zen upgraded Citi Trends from a “hold” rating to a “buy” rating in a report on Monday, June 29th. Weiss Ratings raised Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. DA Davidson lifted their target price on Citi Trends from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Craig Hallum reissued a “buy” rating on shares of Citi Trends in a report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Citi Trends Stock Performance

Shares of CTRN stock opened at $55.28 on Monday. Citi Trends, Inc. has a 52 week low of $28.44 and a 52 week high of $66.38. The company has a market capitalization of $460.48 million, a price-to-earnings ratio of 39.77 and a beta of 1.83. The company has a 50-day simple moving average of $49.02 and a 200 day simple moving average of $46.52.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.59. The firm had revenue of $230.86 million for the quarter, compared to analysts’ expectations of $217.42 million. Citi Trends had a net margin of 1.42% and a return on equity of 2.09%. During the same period in the prior year, the firm earned $0.11 EPS.

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.