Citi Trends, Inc. (NASDAQ:CTRN) Short Interest Down 5.1% in December

Citi Trends, Inc. (NASDAQ:CTRN – Get Rating) was the target of a significant decline in short interest during the month of December. As of December 30th, there was short interest totalling 925,900 shares, a decline of 5.1% from the December 15th total of 975,600 shares. Based on an average daily volume of 171,500 shares, the days-to-cover ratio is currently 5.4 days. Approximately 11.6% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CTRN. Gordon Haskett raised shares of Citi Trends from a “reduce” rating to a “hold” rating and set a $18.00 target price for the company in a research note on Monday, October 17th. StockNews.com started coverage on shares of Citi Trends in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Citi Trends presently has an average rating of “Hold” and a consensus target price of $34.75.

Citi Trends Stock Down 0.2 %

CTRN stock opened at $30.37 on Monday. Citi Trends has a 52-week low of $15.48 and a 52-week high of $56.78. The business has a fifty day moving average of $27.45 and a two-hundred day moving average of $24.18. The stock has a market cap of $253.89 million, a price-to-earnings ratio of 4.07 and a beta of 2.18.

Citi Trends (NASDAQ:CTRN – Get Rating) last released its earnings results on Tuesday, November 29th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.26. The firm had revenue of $192.32 million during the quarter, compared to analysts’ expectations of $184.60 million. Citi Trends had a return on equity of 9.34% and a net margin of 7.51%. As a group, sell-side analysts anticipate that Citi Trends will post 1.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CTRN. Amalgamated Bank acquired a new position in shares of Citi Trends during the 1st quarter worth about $37,000. Allspring Global Investments Holdings LLC boosted its position in shares of Citi Trends by 643.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,361 shares of the company’s stock worth $52,000 after acquiring an additional 2,909 shares in the last quarter. BNP Paribas Arbitrage SNC boosted its position in shares of Citi Trends by 97.9% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 3,883 shares of the company’s stock worth $60,000 after acquiring an additional 1,921 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Citi Trends by 707.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,084 shares of the company’s stock valued at $63,000 after purchasing an additional 3,578 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Citi Trends by 176.6% in the 3rd quarter. UBS Group AG now owns 5,119 shares of the company’s stock valued at $80,000 after purchasing an additional 3,268 shares during the last quarter. 94.20% of the stock is owned by institutional investors and hedge funds.

About Citi Trends

(Get Rating)

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. It offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.