6,802 Shares in Citi Trends, Inc. $CTRN Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. purchased a new stake in Citi Trends, Inc. (NASDAQ:CTRN) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,802 shares of the company’s stock, valued at approximately $227,000. Envestnet Asset Management Inc. owned about 0.08% of Citi Trends as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Citi Trends by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 16,220 shares of the company’s stock worth $359,000 after buying an additional 717 shares during the period. Nuveen LLC acquired a new stake in Citi Trends during the first quarter worth about $121,992,000. American Century Companies Inc. raised its holdings in shares of 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 during the period. Hsbc Holdings PLC lifted its stake 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 in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Citi Trends during the 1st quarter worth about $148,000.

Citi Trends Stock Up 0.7%

Shares of NASDAQ:CTRN opened at $45.29 on Friday. The company has a market capitalization of $376.18 million, a price-to-earnings ratio of -22.65 and a beta of 2.24. The company has a 50 day moving average of $36.72 and a two-hundred day moving average of $33.21. Citi Trends, Inc. has a 52-week low of $16.82 and a 52-week high of $45.92.

Citi Trends (NASDAQ:CTRN) last announced its earnings results on Tuesday, January 12th. The company reported $1.22 earnings per share for the quarter. Citi Trends had a negative net margin of 2.13% and a negative return on equity of 21.25%. The business had revenue of $251.92 million during the quarter. Citi Trends has set its FY 2020
Pre-Market guidance at 1.85-1.95 EPS. Q4 2020
Pre-Market guidance at 1.22-1.32 EPS.

Analysts Set New Price Targets

Several research firms recently commented on CTRN. DA Davidson raised their price target on shares of Citi Trends from $40.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Wall Street Zen lowered shares of Citi Trends from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Citi Trends in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $39.50.

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.