Citi Trends, Inc. $CTRN Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. decreased its position in Citi Trends, Inc. (NASDAQ:CTRN) by 70.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,459 shares of the company’s stock after selling 67,520 shares during the quarter. Goldman Sachs Group Inc. owned about 0.34% of Citi Trends worth $630,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Citi Trends in the first quarter valued at $204,000. AWM Investment Company Inc. lifted its holdings in shares of Citi Trends by 1.6% during the first quarter. AWM Investment Company Inc. now owns 232,477 shares of the company’s stock valued at $5,146,000 after purchasing an additional 3,694 shares during the last quarter. State of Wyoming acquired a new position in shares of Citi Trends in the 1st quarter valued at $148,000. Hsbc Holdings PLC boosted its position in shares of Citi Trends by 5.0% in the 1st quarter. Hsbc Holdings PLC now owns 10,328 shares of the company’s stock valued at $223,000 after purchasing an additional 488 shares during the period. Finally, American Century Companies Inc. increased its stake in Citi Trends by 10.5% in the 1st quarter. American Century Companies Inc. now owns 14,470 shares of the company’s stock worth $320,000 after purchasing an additional 1,371 shares in the last quarter.

Citi Trends Price Performance

Shares of CTRN opened at $31.38 on Thursday. The business’s 50-day moving average is $32.77 and its 200-day moving average is $27.93. The company has a market capitalization of $260.77 million, a price-to-earnings ratio of -15.69 and a beta of 2.07. Citi Trends, Inc. has a fifty-two week low of $16.18 and a fifty-two week high of $39.37.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, August 26th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.19. The business had revenue of $190.75 million during the quarter, compared to analyst estimates of $188.20 million. Citi Trends had a negative net margin of 2.13% and a negative return on equity of 21.25%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CTRN. DA Davidson lifted their price target on Citi Trends from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, August 27th. Wall Street Zen raised Citi Trends from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $39.50.

Insider Activity

In other news, Director Margaret L. Jenkins sold 1,000 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $36.21, for a total value of $36,210.00. Following the completion of the sale, the director directly owned 16,163 shares of the company’s stock, valued at $585,262.23. This represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.70% of the stock is owned by company insiders.

Citi Trends Company Profile

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.