IndexIQ Advisors LLC Sells 41,502 Shares of Citi Trends, Inc. (CTRN)

IndexIQ Advisors LLC trimmed its stake in Citi Trends, Inc. (NASDAQ:CTRN) by 61.0% during the first quarter, Holdings Channel reports. The institutional investor owned 26,502 shares of the company’s stock after selling 41,502 shares during the quarter. IndexIQ Advisors LLC’s holdings in Citi Trends were worth $512,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of CTRN. Quantamental Technologies LLC bought a new stake in shares of Citi Trends during the fourth quarter valued at about $40,000. BNP Paribas Arbitrage SA raised its stake in shares of Citi Trends by 53.7% during the first quarter. BNP Paribas Arbitrage SA now owns 2,506 shares of the company’s stock valued at $48,000 after purchasing an additional 876 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Citi Trends by 32.1% during the fourth quarter. Legal & General Group Plc now owns 2,542 shares of the company’s stock valued at $52,000 after purchasing an additional 618 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Citi Trends by 1,635.7% during the fourth quarter. Great West Life Assurance Co. Can now owns 2,725 shares of the company’s stock valued at $54,000 after purchasing an additional 2,568 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in shares of Citi Trends by 5,948.3% during the first quarter. Meeder Asset Management Inc. now owns 3,508 shares of the company’s stock valued at $69,000 after purchasing an additional 3,450 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

Shares of NASDAQ CTRN opened at $17.85 on Wednesday. Citi Trends, Inc. has a fifty-two week low of $17.26 and a fifty-two week high of $34.90. The stock has a market cap of $222.15 million, a P/E ratio of 10.88 and a beta of 0.42.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Friday, March 15th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. Citi Trends had a net margin of 2.78% and a return on equity of 10.67%. The business had revenue of $201.16 million for the quarter, compared to analysts’ expectations of $215.00 million. During the same period in the previous year, the business earned $0.38 earnings per share. The company’s revenue was down 5.2% on a year-over-year basis. On average, research analysts predict that Citi Trends, Inc. will post 1.9 EPS for the current year.

In other Citi Trends news, SVP Christina Short sold 2,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $19.34, for a total value of $38,680.00. Following the sale, the senior vice president now directly owns 9,324 shares in the company, valued at $180,326.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.19% of the stock is currently owned by insiders.

A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Citi Trends from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. ValuEngine cut shares of Citi Trends from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Finally, Sidoti assumed coverage on shares of Citi Trends in a research note on Friday, February 22nd. They set a “buy” rating and a $28.00 price objective on the stock.

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Citi Trends Profile

Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, such as fashion sportswear for men and women, as well as children, including newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional bedroom, bathroom, and kitchen products, as well as beauty products and toys.

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Institutional Ownership by Quarter for Citi Trends (NASDAQ:CTRN)

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