Charles Schwab Investment Management Inc. Lowers Stake in Citi Trends, Inc. (NASDAQ:CTRN)

Charles Schwab Investment Management Inc. reduced its stake in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 41.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 70,835 shares of the company’s stock after selling 51,188 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Citi Trends were worth $1,859,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CTRN. Rhumbline Advisers grew its position in shares of Citi Trends by 157.3% in the fourth quarter. Rhumbline Advisers now owns 31,089 shares of the company’s stock valued at $816,000 after purchasing an additional 19,005 shares during the period. XTX Topco Ltd bought a new position in shares of Citi Trends during the third quarter valued at approximately $339,000. Jane Street Group LLC acquired a new position in shares of Citi Trends during the third quarter worth approximately $193,000. Exchange Traded Concepts LLC increased its stake in shares of Citi Trends by 7.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 100,523 shares of the company’s stock valued at $2,639,000 after acquiring an additional 6,702 shares during the period. Finally, Barclays PLC grew its position in Citi Trends by 19.9% in the third quarter. Barclays PLC now owns 25,953 shares of the company’s stock worth $478,000 after buying an additional 4,300 shares during the last quarter.

Citi Trends Stock Down 0.6 %

CTRN stock opened at $22.63 on Friday. Citi Trends, Inc. has a twelve month low of $13.66 and a twelve month high of $29.41. The company has a market cap of $197.11 million, a price-to-earnings ratio of -7.37 and a beta of 2.29. The business has a 50 day moving average price of $24.53 and a two-hundred day moving average price of $22.37.

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

Analyst Ratings Changes

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

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.