Millennium Management LLC Makes New Investment in Citi Trends, Inc. (NASDAQ:CTRN)

Millennium Management LLC bought a new position in Citi Trends, Inc. (NASDAQ:CTRN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,934 shares of the company’s stock, valued at approximately $235,000. Millennium Management LLC owned approximately 0.10% of Citi Trends as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in Citi Trends by 22.8% in the 4th quarter. Wells Fargo & Company MN now owns 3,745 shares of the company’s stock worth $98,000 after buying an additional 695 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Citi Trends in the 4th quarter worth approximately $105,000. AlphaQuest LLC lifted its position in Citi Trends by 287.5% in the 4th quarter. AlphaQuest LLC now owns 8,354 shares of the company’s stock worth $219,000 after buying an additional 6,198 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Citi Trends during the 4th quarter worth $225,000. Finally, Bank of America Corp DE increased its stake in shares of Citi Trends by 29.5% during the 4th quarter. Bank of America Corp DE now owns 8,801 shares of the company’s stock worth $231,000 after purchasing an additional 2,003 shares during the last quarter.

Citi Trends Stock Down 2.4%

Shares of CTRN opened at $33.33 on Thursday. The company’s fifty day moving average is $24.24 and its 200-day moving average is $24.40. Citi Trends, Inc. has a 12 month low of $13.66 and a 12 month high of $34.63. The firm has a market cap of $275.91 million, a price-to-earnings ratio of -10.86 and a beta of 1.94.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.19) by $0.36. Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%. The company had revenue of $201.73 million for the quarter, compared to analyst estimates of $195.76 million. During the same quarter in the prior year, the business posted ($0.32) EPS.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CTRN shares. Wall Street Zen upgraded shares of Citi Trends from a “sell” rating to a “hold” rating in a research note on Friday, June 6th. DA Davidson restated a “buy” rating and set a $29.00 price target on shares of Citi Trends in a research note on Wednesday, March 19th.

About Citi Trends

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.