Assenagon Asset Management S.A. Takes $3.62 Million Position in Citi Trends, Inc. $CTRN

Assenagon Asset Management S.A. bought a new stake in Citi Trends, Inc. (NASDAQ:CTRN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 86,996 shares of the company’s stock, valued at approximately $3,616,000. Assenagon Asset Management S.A. owned about 1.04% of Citi Trends as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Citi Trends by 343.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,573 shares of the company’s stock worth $421,000 after purchasing an additional 10,509 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Citi Trends in the third quarter valued at $2,778,000. XTX Topco Ltd grew its position in shares of Citi Trends by 22.4% in the 3rd quarter. XTX Topco Ltd now owns 19,825 shares of the company’s stock valued at $615,000 after acquiring an additional 3,628 shares during the period. Susquehanna International Group LLP increased its stake in shares of Citi Trends by 147.4% during the 3rd quarter. Susquehanna International Group LLP now owns 41,905 shares of the company’s stock worth $1,300,000 after purchasing an additional 24,965 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in shares of Citi Trends by 124.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 98,909 shares of the company’s stock worth $3,069,000 after purchasing an additional 54,761 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CTRN shares. DA Davidson set a $68.00 target price on shares of Citi Trends in a research note on Tuesday, March 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Citi Trends in a research report on Wednesday, January 21st. Wall Street Zen lowered Citi Trends from a “buy” rating to a “hold” rating in a research note on Monday, December 15th. Finally, Craig Hallum reaffirmed a “buy” rating on shares of Citi Trends in a research report on Wednesday, March 18th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Citi Trends presently has an average rating of “Hold” and an average price target of $68.00.

Citi Trends Stock Performance

NASDAQ CTRN opened at $42.33 on Monday. The stock has a market cap of $353.46 million, a PE ratio of 71.75 and a beta of 2.06. The firm has a 50-day moving average of $45.57 and a 200-day moving average of $41.51. Citi Trends, Inc. has a 52-week low of $16.82 and a 52-week high of $56.78.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Tuesday, March 17th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Citi Trends had a net margin of 0.64% and a negative return on equity of 4.85%. The business had revenue of $230.39 million for the quarter, compared to analyst estimates of $227.42 million.

Citi Trends Company Profile

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.