Citi Trends, Inc. (NASDAQ:CTRN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in Citi Trends, Inc. (NASDAQ:CTRN) by 19.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,771 shares of the company’s stock after selling 655 shares during the period. JPMorgan Chase & Co.’s holdings in Citi Trends were worth $51,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Empowered Funds LLC boosted its stake in shares of Citi Trends by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 24,083 shares of the company’s stock valued at $442,000 after buying an additional 1,206 shares during the last quarter. Quest Partners LLC bought a new position in Citi Trends during the third quarter worth $40,000. Quantbot Technologies LP lifted its stake in Citi Trends by 111.3% during the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock worth $148,000 after purchasing an additional 4,250 shares during the last quarter. Barclays PLC lifted its stake in Citi Trends by 19.9% during the third quarter. Barclays PLC now owns 25,953 shares of the company’s stock worth $478,000 after purchasing an additional 4,300 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in Citi Trends by 5.4% during the third quarter. Royce & Associates LP now owns 196,110 shares of the company’s stock worth $3,603,000 after purchasing an additional 10,000 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com lowered Citi Trends from a “hold” rating to a “sell” rating in a report on Tuesday. DA Davidson lifted their target price on Citi Trends from $20.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Craig Hallum lifted their target price on Citi Trends from $14.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th.

Insider Transactions at Citi Trends

In related news, Director Jonathan Duskin sold 12,000 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $26.44, for a total value of $317,280.00. Following the completion of the transaction, the director now owns 33,396 shares of the company’s stock, valued at approximately $882,990.24. This represents a 26.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.80% of the company’s stock.

Citi Trends Trading Down 5.8 %

NASDAQ CTRN opened at $24.39 on Tuesday. The stock has a 50-day simple moving average of $25.31 and a 200 day simple moving average of $20.37. The company has a market capitalization of $212.44 million, a PE ratio of -7.94 and a beta of 2.27. Citi Trends, Inc. has a 12 month low of $13.65 and a 12 month high of $32.90.

Citi Trends (NASDAQ:CTRN) last announced its earnings results on Tuesday, December 3rd. The company reported ($0.78) EPS for the quarter. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%.

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.