Empowered Funds LLC Acquires 1,206 Shares of Citi Trends, Inc. (NASDAQ:CTRN)

Empowered Funds LLC boosted its stake in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,083 shares of the company’s stock after buying an additional 1,206 shares during the quarter. Empowered Funds LLC’s holdings in Citi Trends were worth $442,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CTRN. SG Americas Securities LLC purchased a new position in Citi Trends during the first quarter valued at approximately $139,000. Deerfield Management Company L.P. Series C purchased a new stake in Citi Trends during the 2nd quarter valued at about $208,000. Rhumbline Advisers increased its holdings in Citi Trends by 41,964.0% in the 2nd quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock worth $224,000 after buying an additional 10,491 shares during the period. Renaissance Technologies LLC purchased a new stake in Citi Trends in the 2nd quarter worth approximately $584,000. Finally, Anchor Capital Advisors LLC lifted its position in shares of Citi Trends by 11.3% during the 2nd quarter. Anchor Capital Advisors LLC now owns 52,247 shares of the company’s stock valued at $1,111,000 after buying an additional 5,307 shares in the last quarter.

Insider Activity

In other Citi Trends news, CFO Heather L. Plutino acquired 3,573 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $13.99 per share, for a total transaction of $49,986.27. Following the completion of the acquisition, the chief financial officer now owns 21,316 shares of the company’s stock, valued at approximately $298,210.84. This trade represents a 20.14 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kenneth Duane Seipel bought 25,000 shares of Citi Trends stock in a transaction on Wednesday, August 28th. The shares were acquired at an average price of $14.39 per share, for a total transaction of $359,750.00. Following the completion of the acquisition, the chief executive officer now owns 282,139 shares in the company, valued at $4,059,980.21. This represents a 9.72 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 31,573 shares of company stock valued at $455,336. 3.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CTRN has been the subject of several recent analyst reports. DA Davidson cut their price objective on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Craig Hallum reduced their price target on shares of Citi Trends from $25.00 to $14.00 and set a “hold” rating on the stock in a research report on Wednesday, August 28th. Finally, StockNews.com upgraded Citi Trends from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

Citi Trends Price Performance

NASDAQ CTRN opened at $18.92 on Monday. Citi Trends, Inc. has a 12 month low of $13.65 and a 12 month high of $32.90. The stock has a market capitalization of $163.09 million, a P/E ratio of -7.06 and a beta of 2.40. The firm’s 50-day moving average is $18.78 and its two-hundred day moving average is $19.18.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Tuesday, August 27th. The company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($1.42). The company had revenue of $176.55 million for the quarter. Citi Trends had a negative return on equity of 12.62% and a negative net margin of 2.92%.

Citi Trends 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.