Bank of New York Mellon Corp Sells 30,157 Shares of Citi Trends, Inc. (NASDAQ:CTRN)

Bank of New York Mellon Corp trimmed its position in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 37.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,884 shares of the company’s stock after selling 30,157 shares during the period. Bank of New York Mellon Corp owned about 0.59% of Citi Trends worth $1,082,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Citi Trends by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 197,815 shares of the company’s stock valued at $5,594,000 after buying an additional 4,779 shares during the last quarter. Jump Financial LLC bought a new position in Citi Trends in the 4th quarter valued at $223,000. Franklin Resources Inc. increased its stake in Citi Trends by 22.1% in the fourth quarter. Franklin Resources Inc. now owns 50,197 shares of the company’s stock worth $1,420,000 after purchasing an additional 9,074 shares during the period. Fund 1 Investments LLC lifted its position in shares of Citi Trends by 55.6% during the fourth quarter. Fund 1 Investments LLC now owns 1,329,342 shares of the company’s stock worth $37,594,000 after purchasing an additional 474,736 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Citi Trends by 8.0% during the first quarter. Empowered Funds LLC now owns 21,257 shares of the company’s stock valued at $577,000 after purchasing an additional 1,575 shares during the period.

Insider Activity

In related news, major shareholder Fund 1 Investments, Llc acquired 21,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was purchased at an average cost of $21.21 per share, for a total transaction of $445,410.00. Following the purchase, the insider now directly owns 2,456,486 shares of the company’s stock, valued at approximately $52,102,068.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Fund 1 Investments, Llc bought 21,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was bought at an average price of $21.21 per share, with a total value of $445,410.00. Following the completion of the transaction, the insider now directly owns 2,456,486 shares of the company’s stock, valued at approximately $52,102,068.06. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth Duane Seipel bought 135,128 shares of the stock in a transaction on Friday, July 12th. The stock was purchased at an average price of $19.06 per share, with a total value of $2,575,539.68. Following the completion of the purchase, the chief executive officer now owns 319,562 shares of the company’s stock, valued at $6,090,851.72. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 354,699 shares of company stock worth $6,803,328. 3.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on CTRN shares. 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 note on Wednesday, August 28th. StockNews.com lowered shares of Citi Trends from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. DA Davidson lowered their price target on Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. Finally, Benchmark reissued a “buy” rating and issued a $35.00 price objective on shares of Citi Trends in a research note on Wednesday, June 5th.

Citi Trends Price Performance

NASDAQ:CTRN opened at $18.55 on Friday. The firm has a market cap of $159.44 million, a PE ratio of -17.18 and a beta of 2.39. The company has a 50-day moving average of $16.75 and a 200 day moving average of $21.40. Citi Trends, Inc. has a 1-year low of $13.65 and a 1-year high of $32.90.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Tuesday, August 27th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($1.42). The business had revenue of $176.55 million for the quarter. Citi Trends had a negative net margin of 2.92% and a negative return on equity of 12.25%.

About Citi Trends

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.