Jennison Associates LLC Grows Position in Citi Trends, Inc. (NASDAQ:CTRN)

Jennison Associates LLC raised its position in Citi Trends, Inc. (NASDAQ:CTRN) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 416,029 shares of the company’s stock after acquiring an additional 39,751 shares during the quarter. Jennison Associates LLC owned approximately 4.87% of Citi Trends worth $11,765,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. AWM Investment Company Inc. grew its stake in shares of Citi Trends by 3.4% during the third quarter. AWM Investment Company Inc. now owns 265,768 shares of the company’s stock worth $5,905,000 after purchasing an additional 8,660 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Citi Trends by 13.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 193,036 shares of the company’s stock worth $4,289,000 after purchasing an additional 22,311 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in Citi Trends in the third quarter valued at approximately $2,254,000. Assenagon Asset Management S.A. purchased a new stake in shares of Citi Trends during the 3rd quarter worth approximately $1,617,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Citi Trends in the 3rd quarter valued at $1,089,000.

Citi Trends Price Performance

NASDAQ CTRN opened at $21.78 on Friday. The business’s 50-day moving average price is $27.40 and its 200 day moving average price is $26.37. Citi Trends, Inc. has a 52-week low of $14.20 and a 52-week high of $32.90.

Citi Trends (NASDAQ:CTRN) last released its earnings results on Tuesday, March 19th. The company reported $0.53 earnings per share (EPS) for the quarter. Citi Trends had a negative return on equity of 6.74% and a negative net margin of 1.60%. The business had revenue of $215.18 million for the quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Craig Hallum reaffirmed a “hold” rating and set a $27.00 price objective (down previously from $28.00) on shares of Citi Trends in a report on Tuesday, March 19th. Benchmark reiterated a “buy” rating and issued a $35.00 price objective on shares of Citi Trends in a research note on Wednesday, March 20th.

Insiders Place Their Bets

In other news, major shareholder Fund 1 Investments, Llc purchased 31,634 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were acquired at an average cost of $31.21 per share, for a total transaction of $987,297.14. Following the completion of the purchase, the insider now directly owns 1,470,780 shares in the company, valued at approximately $45,903,043.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders bought 268,941 shares of company stock worth $7,277,518. 4.20% of the stock is owned by insiders.

Citi Trends Profile

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.