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

Empowered Funds LLC raised its holdings in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 5.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,083 shares of the company’s stock after purchasing an additional 1,206 shares during the period. Empowered Funds LLC owned 0.28% of Citi Trends worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CTRN. Dimensional Fund Advisors LP grew its stake in Citi Trends by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company’s stock valued at $12,938,000 after acquiring an additional 37,107 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Citi Trends during the 3rd quarter valued at $1,723,000. Renaissance Technologies LLC acquired a new position in Citi Trends in the 2nd quarter valued at about $584,000. SG Americas Securities LLC acquired a new position in shares of Citi Trends in the first quarter valued at approximately $139,000. Finally, Anchor Capital Advisors LLC boosted its stake in shares of Citi Trends by 11.3% in the second 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 during the period.

Citi Trends Stock Up 5.8 %

Shares of CTRN opened at $18.92 on Monday. 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 has a fifty day simple moving average of $18.78 and a two-hundred day simple moving average of $19.18. Citi Trends, Inc. has a twelve month low of $13.65 and a twelve month high of $32.90.

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

Insider Activity

In other Citi Trends news, CFO Heather L. Plutino bought 3,573 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average cost of $13.99 per share, for a total transaction of $49,986.27. Following the purchase, the chief financial officer now owns 21,316 shares in the company, valued at approximately $298,210.84. This trade represents a 20.14 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kenneth Duane Seipel acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were acquired at an average cost of $14.39 per share, for a total transaction of $359,750.00. Following the completion of the transaction, the chief executive officer now directly owns 282,139 shares of the company’s stock, valued at $4,059,980.21. The trade was 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 acquired 31,573 shares of company stock worth $455,336. Insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Citi Trends from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. DA Davidson lowered their target price 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, Craig Hallum cut their price target on Citi Trends from $25.00 to $14.00 and set a “hold” rating for the company in a research note on Wednesday, August 28th.

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.