Ameriprise Financial Inc. Takes $526,000 Position in Citi Trends, Inc. (CTRN)
Ameriprise Financial Inc. acquired a new stake in shares of Citi Trends, Inc. (NASDAQ:CTRN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 24,792 shares of the company’s stock, valued at approximately $526,000. Ameriprise Financial Inc. owned 0.17% of Citi Trends at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of CTRN. Wells Fargo & Company MN lifted its holdings in Citi Trends by 61.6% in the 1st quarter. Wells Fargo & Company MN now owns 23,211 shares of the company’s stock worth $394,000 after purchasing an additional 8,848 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Citi Trends by 5.5% in the 1st quarter. Bank of New York Mellon Corp now owns 117,962 shares of the company’s stock worth $2,005,000 after purchasing an additional 6,175 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Citi Trends by 60.6% in the 1st quarter. JPMorgan Chase & Co. now owns 50,403 shares of the company’s stock worth $857,000 after purchasing an additional 19,021 shares in the last quarter. American International Group Inc. lifted its holdings in Citi Trends by 7.0% in the 1st quarter. American International Group Inc. now owns 8,858 shares of the company’s stock worth $151,000 after purchasing an additional 582 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in Citi Trends by 8.5% in the 1st quarter. Teachers Advisors LLC now owns 63,046 shares of the company’s stock worth $1,072,000 after purchasing an additional 4,953 shares in the last quarter. 91.24% of the stock is currently owned by institutional investors.
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A number of research firms recently commented on CTRN. TheStreet raised Citi Trends from a “c+” rating to a “b-” rating in a report on Monday, October 16th. BidaskClub cut Citi Trends from a “hold” rating to a “sell” rating in a report on Saturday, August 5th.
Citi Trends, Inc. (NASDAQ:CTRN) opened at $21.38 on Monday. Citi Trends, Inc. has a twelve month low of $15.54 and a twelve month high of $22.73. The company has a market capitalization of $293.82, a P/E ratio of 20.76 and a beta of 0.42.
Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Wednesday, August 16th. The company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.05). Citi Trends had a return on equity of 6.93% and a net margin of 1.88%. The business had revenue of $166.20 million during the quarter, compared to analysts’ expectations of $164.70 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis.
Citi Trends Profile
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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