Bank of New York Mellon Corp Cuts Stock Position in Citi Trends, Inc. (NASDAQ:CTRN)

Bank of New York Mellon Corp trimmed its position in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 8.3% in the 4th quarter, Holdings Channel reports. The firm owned 15,503 shares of the company’s stock after selling 1,406 shares during the period. Bank of New York Mellon Corp’s holdings in Citi Trends were worth $407,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Rhumbline Advisers raised its stake in shares of Citi Trends by 157.3% in the 4th quarter. Rhumbline Advisers now owns 31,089 shares of the company’s stock valued at $816,000 after acquiring an additional 19,005 shares during the period. XTX Topco Ltd purchased a new stake in shares of Citi Trends during the 3rd quarter worth $339,000. Jane Street Group LLC purchased a new position in shares of Citi Trends in the 3rd quarter valued at about $193,000. Exchange Traded Concepts LLC raised its holdings in Citi Trends by 7.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 100,523 shares of the company’s stock worth $2,639,000 after purchasing an additional 6,702 shares in the last quarter. Finally, Barclays PLC lifted its position in Citi Trends by 19.9% in the third quarter. Barclays PLC now owns 25,953 shares of the company’s stock valued at $478,000 after acquiring an additional 4,300 shares during the last quarter.

Analysts Set New Price Targets

CTRN has been the subject of a number of research reports. Craig Hallum raised shares of Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Monday, February 10th. StockNews.com raised Citi Trends from a “sell” rating to a “hold” rating in a research note on Friday. Finally, DA Davidson restated a “buy” rating and set a $29.00 target price on shares of Citi Trends in a report on Wednesday, March 19th.

Citi Trends Trading Down 0.6 %

CTRN stock opened at $22.63 on Friday. The firm has a 50 day simple moving average of $24.53 and a 200-day simple moving average of $22.37. Citi Trends, Inc. has a twelve month low of $13.66 and a twelve month high of $29.41. The company has a market capitalization of $197.11 million, a P/E ratio of -7.37 and a beta of 2.29.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($1.55) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($1.73). The company had revenue of $211.17 million for the quarter, compared to the consensus estimate of $211.54 million. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%. During the same quarter in the previous year, the company earned $0.53 earnings per share.

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.