State Board of Administration of Florida Retirement System Buys 1,409 Shares of Citi Trends Inc. (CTRN)
State Board of Administration of Florida Retirement System increased its position in shares of Citi Trends Inc. (NASDAQ:CTRN) by 9.1% during the second quarter, Holdings Channel reports. The fund owned 16,865 shares of the company’s stock after buying an additional 1,409 shares during the period. State Board of Administration of Florida Retirement System owned 0.12% of Citi Trends worth $262,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its position in Citi Trends by 5.4% in the second quarter. California Public Employees Retirement System now owns 122,969 shares of the company’s stock worth $1,910,000 after buying an additional 6,300 shares during the period. Emerald Acquisition Ltd. purchased a new position in Citi Trends during the second quarter worth about $2,711,000. Wedge Capital Management L L P NC boosted its position in Citi Trends by 22.4% in the second quarter. Wedge Capital Management L L P NC now owns 63,300 shares of the company’s stock worth $983,000 after buying an additional 11,600 shares during the period. Northpointe Capital LLC boosted its position in Citi Trends by 7.9% in the second quarter. Northpointe Capital LLC now owns 175,070 shares of the company’s stock worth $2,719,000 after buying an additional 12,875 shares during the period. Finally, Strs Ohio boosted its position in Citi Trends by 12.5% in the second quarter. Strs Ohio now owns 38,700 shares of the company’s stock worth $601,000 after buying an additional 4,300 shares during the period. 94.69% of the stock is currently owned by institutional investors.
Citi Trends Inc. (NASDAQ:CTRN) traded up 0.90% on Friday, reaching $20.18. 70,742 shares of the company traded hands. Citi Trends Inc. has a 52-week low of $14.01 and a 52-week high of $27.75. The stock has a 50-day moving average of $19.71 and a 200 day moving average of $17.71. The company has a market capitalization of $296.14 million, a PE ratio of 23.41 and a beta of 0.34.
Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Wednesday, August 17th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05. The firm 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 firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 earnings per share. On average, equities analysts forecast that Citi Trends Inc. will post $1.00 EPS for the current year.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Citi Trends from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Friday, August 19th. MKM Partners reiterated a “neutral” rating and issued a $16.00 target price on shares of Citi Trends in a research note on Wednesday, August 17th. Finally, TheStreet upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Monday, September 19th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Citi Trends has a consensus rating of “Hold” and a consensus target price 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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