Northpointe Capital LLC Has $2,719,000 Stake in Citi Trends Inc. (CTRN)
Northpointe Capital LLC boosted its stake in shares of Citi Trends Inc. (NASDAQ:CTRN) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 175,070 shares of the company’s stock after buying an additional 12,875 shares during the period. Northpointe Capital LLC’s holdings in Citi Trends were worth $2,719,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of CTRN. Panagora Asset Management Inc. raised its position in Citi Trends by 6.7% in the first quarter. Panagora Asset Management Inc. now owns 201,522 shares of the company’s stock valued at $3,593,000 after buying an additional 12,577 shares during the last quarter. Royce & Associates LP raised its position in shares of Citi Trends by 23.3% in the first quarter. Royce & Associates LP now owns 264,673 shares of the company’s stock valued at $4,719,000 after buying an additional 50,000 shares in the last quarter. Strs Ohio raised its position in shares of Citi Trends by 12.5% in the second quarter. Strs Ohio now owns 38,700 shares of the company’s stock valued at $601,000 after buying an additional 4,300 shares in the last quarter. Nantahala Capital Management LLC raised its position in shares of Citi Trends by 31.5% in the first quarter. Nantahala Capital Management LLC now owns 1,002,603 shares of the company’s stock valued at $17,876,000 after buying an additional 240,194 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Citi Trends by 1.8% in the first quarter. Geode Capital Management LLC now owns 104,354 shares of the company’s stock valued at $1,860,000 after buying an additional 1,894 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.
Citi Trends Inc. (NASDAQ:CTRN) traded down 0.36% during midday trading on Wednesday, reaching $19.61. 60,128 shares of the company’s stock were exchanged. Citi Trends Inc. has a 52 week low of $14.01 and a 52 week high of $27.75. The stock’s 50 day moving average is $19.64 and its 200 day moving average is $17.60. The firm has a market capitalization of $287.78 million, a P/E ratio of 22.75 and a beta of 0.34.
Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings results on Wednesday, August 17th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. The business earned $155.30 million during the quarter. Citi Trends had a net margin of 1.86% and a return on equity of 5.64%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 earnings per share. On average, analysts expect that Citi Trends Inc. will post $1.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Tuesday, August 30th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, August 26th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.22%. Citi Trends’s dividend payout ratio (DPR) is presently 27.59%.
Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Citi Trends from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Friday, August 19th. MKM Partners restated a “neutral” rating and issued a $16.00 price objective on shares of Citi Trends in a report on Wednesday, August 17th. Finally, TheStreet lowered shares of Citi Trends from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Citi Trends currently has an average rating of “Hold” and a consensus price target of $18.50.
About Citi Trends
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.
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