Exchange Traded Concepts LLC Sells 3,425 Shares of Citi Trends, Inc. (NASDAQ:CTRN)

Exchange Traded Concepts LLC reduced its stake in Citi Trends, Inc. (NASDAQ:CTRN) by 3.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,098 shares of the company’s stock after selling 3,425 shares during the period. Exchange Traded Concepts LLC owned 1.11% of Citi Trends worth $2,149,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Shay Capital LLC increased its stake in shares of Citi Trends by 40.1% during the fourth quarter. Shay Capital LLC now owns 360,000 shares of the company’s stock valued at $9,450,000 after purchasing an additional 102,958 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Citi Trends by 0.7% during the fourth quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company’s stock valued at $5,221,000 after purchasing an additional 1,400 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Citi Trends by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 166,558 shares of the company’s stock valued at $4,373,000 after purchasing an additional 3,086 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Citi Trends by 5,400.6% during the fourth quarter. JPMorgan Chase & Co. now owns 152,422 shares of the company’s stock valued at $4,001,000 after purchasing an additional 149,651 shares in the last quarter. Finally, Solas Capital Management LLC increased its stake in shares of Citi Trends by 17.6% during the fourth quarter. Solas Capital Management LLC now owns 151,412 shares of the company’s stock valued at $3,975,000 after purchasing an additional 22,650 shares in the last quarter.

Insider Activity

In related news, VP Katrina George sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $33.94, for a total value of $25,455.00. Following the sale, the vice president now owns 6,150 shares in the company, valued at approximately $208,731. This trade represents a 10.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Citi Trends Stock Down 0.3%

NASDAQ:CTRN opened at $29.78 on Wednesday. The company’s 50 day moving average price is $25.15 and its 200-day moving average price is $24.73. Citi Trends, Inc. has a 52 week low of $13.66 and a 52 week high of $34.63. The stock has a market cap of $246.88 million, a price-to-earnings ratio of -6.38 and a beta of 1.94.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.36. Citi Trends had a negative net margin of 5.06% and a negative return on equity of 27.90%. The firm had revenue of $201.73 million for the quarter, compared to analysts’ expectations of $195.76 million. During the same quarter in the prior year, the company posted ($0.32) earnings per share.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. DA Davidson reaffirmed a “buy” rating and set a $29.00 target price on shares of Citi Trends in a research note on Wednesday, March 19th. Wall Street Zen downgraded shares of Citi Trends from a “buy” rating to a “hold” rating in a research note on Saturday.

Citi Trends Company Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company 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.