Charles Schwab Investment Management Inc. Sells 51,188 Shares of Citi Trends, Inc. (NASDAQ:CTRN)

Charles Schwab Investment Management Inc. lowered its position in Citi Trends, Inc. (NASDAQ:CTRN) by 41.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,835 shares of the company’s stock after selling 51,188 shares during the period. Charles Schwab Investment Management Inc. owned about 0.81% of Citi Trends worth $1,859,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTRN. Quest Partners LLC purchased a new stake in Citi Trends in the third quarter worth $40,000. R Squared Ltd bought a new stake in Citi Trends in the fourth quarter valued at $85,000. Quantbot Technologies LP lifted its stake in shares of Citi Trends by 111.3% in the 3rd quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after purchasing an additional 4,250 shares during the period. Jane Street Group LLC purchased a new stake in Citi Trends in the third quarter worth about $193,000. Finally, XTX Topco Ltd purchased a new stake in shares of Citi Trends during the third quarter valued at approximately $339,000.

Citi Trends Stock Down 0.6 %

CTRN opened at $22.63 on Friday. The company has a market cap of $197.11 million, a PE ratio of -7.37 and a beta of 2.29. Citi Trends, Inc. has a twelve month low of $13.66 and a twelve month high of $29.41. The company has a 50-day moving average price of $24.53 and a 200 day moving average price of $22.37.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of Citi Trends from a “sell” rating to a “hold” rating in a research note on Friday. Craig Hallum upgraded Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Monday, February 10th. 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 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.