Bank of New York Mellon Corp Acquires 94,943 Shares of Citi Trends, Inc. (NASDAQ:CTRN)

Bank of New York Mellon Corp boosted its holdings in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 22.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 523,663 shares of the company’s stock after acquiring an additional 94,943 shares during the period. Bank of New York Mellon Corp owned about 6.30% of Citi Trends worth $9,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTRN. Meeder Asset Management Inc. bought a new stake in shares of Citi Trends in the 4th quarter valued at about $53,000. Barclays PLC boosted its holdings in shares of Citi Trends by 303.7% in the 4th quarter. Barclays PLC now owns 2,176 shares of the company’s stock valued at $58,000 after buying an additional 1,637 shares in the last quarter. BNP Paribas Arbitrage SNC boosted its holdings in shares of Citi Trends by 97.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 3,883 shares of the company’s stock valued at $60,000 after buying an additional 1,921 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Citi Trends by 707.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,084 shares of the company’s stock valued at $63,000 after buying an additional 3,578 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Citi Trends by 82.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,536 shares of the company’s stock valued at $67,000 after buying an additional 1,144 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Citi Trends news, major shareholder Fund 1 Investments, Llc purchased 3,800 shares of Citi Trends stock in a transaction on Monday, October 30th. The stock was bought at an average cost of $23.02 per share, with a total value of $87,476.00. Following the transaction, the insider now owns 973,768 shares of the company’s stock, valued at approximately $22,416,139.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Citi Trends news, major shareholder Fund 1 Investments, Llc purchased 3,800 shares of Citi Trends stock in a transaction on Monday, October 30th. The stock was bought at an average cost of $23.02 per share, with a total value of $87,476.00. Following the transaction, the insider now owns 973,768 shares of the company’s stock, valued at approximately $22,416,139.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Duskin sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $23.02, for a total transaction of $138,120.00. Following the transaction, the director now directly owns 7,275 shares of the company’s stock, valued at $167,470.50. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 44,773 shares of company stock valued at $1,015,809. 4.20% of the stock is owned by insiders.

Citi Trends Stock Up 2.3 %

Shares of Citi Trends stock opened at $24.91 on Friday. The firm has a market capitalization of $213.23 million, a P/E ratio of 10.34 and a beta of 2.26. The company has a 50 day moving average price of $22.97 and a 200 day moving average price of $20.06. Citi Trends, Inc. has a 52 week low of $14.20 and a 52 week high of $34.94.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, August 22nd. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.37. The firm had revenue of $173.55 million during the quarter. Citi Trends had a net margin of 2.59% and a negative return on equity of 1.02%. During the same period in the previous year, the business earned ($0.31) earnings per share.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CTRN shares. Benchmark restated a “buy” rating and issued a $35.00 price target on shares of Citi Trends in a report on Wednesday, September 13th. StockNews.com started coverage on shares of Citi Trends in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Craig Hallum raised shares of Citi Trends from a “hold” rating to a “buy” rating and increased their price objective for the company from $18.00 to $32.00 in a research report on Wednesday, August 23rd.

Citi Trends Company Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. It 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.