Avestar Capital LLC Acquires New Position in Citi Trends, Inc. (NASDAQ:CTRN)
Avestar Capital LLC bought a new position in Citi Trends, Inc. (NASDAQ:CTRN – Get Rating) in the first quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,721 shares of the company, valued at around $206,000. Avestar Capital LLC owned approximately 0.08% of Citi Trends at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently changed their stakes in the company. UMB Bank NA MO bought a new position in Citi Trends during the fourth quarter worth $38,000. CWM LLC bought a new Citi Trends stock position in Q4 for a value of approximately $55,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Citi Trends during Q4, valued at around $60,000. Pinebridge Investments LP purchased a new stake in Citi Trends during the fourth quarter worth approximately $66,000. Finally, Cutler Group LP purchased a new stake in Citi Trends during the first quarter at a value of approximately $27,000.
In related news, SVP Jessica Berkowitz sold 1,815 shares of the company in a trade that took place on Tuesday, April 12. The shares were sold at an average price of $31.95, for a total value of $57,989.25. Following the sale, the senior vice president now owns 5,446 shares of the company, valued at $173,999.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. 4.20% of the shares are held by company insiders.
CTRN stock opened at $24.86 on Monday. The stock has a market capitalization of $208.70 million, a PE ratio of 3.48 and a beta of 2.05. Citi Trends, Inc. has a 12-month low of $21.70 and a 12-month high of $97.46. The stock’s 50-day simple moving average is $26.89 and its 200-day simple moving average is $38.91.
Citi Trends (NASDAQ:CTRN – Get Rating) last released its results on Tuesday, May 24. The company reported EPS of $0.42 for the quarter, beating analyst consensus estimates of $0.34 by $0.08. Citi Trends had a return on equity of 27.43% and a net margin of 6.73%. During the same period last year, the company posted earnings per share of $3.23. As a group, analysts predict Citi Trends, Inc. will post EPS of 2.52 for the current year.
Several stock analysts have recently released reports on CTRN stocks. Benchmark lowered its target price on Citi Trends shares to $50.00 in a Wednesday, May 25 report. StockNews.com began covering Citi Trends in a research note on Thursday, March 31. They set a “holding” rating for the company. Telsey Advisory Group reduced its target price on Citi Trends to $45.00 in a Wednesday May 25 research note. Finally, Craig Hallum downgraded Citi Trends from a “buy” rating to a “hold” rating and reduced his price target for the company from $80.00 to $34.00 in a Friday, May 20 report. Two equity research analysts gave the stock a hold rating and three gave the company a buy rating. Based on data from MarketBeat.com, Citi Trends currently has a consensus rating of “Moderate Buy” and an average target price of $47.25.
About Citi Trends (Get an evaluation)
Citi Trends, Inc operates as a value retailer of fashion apparel, accessories and home goods. It offers clothing, such as sportswear and fashion shoes for men and women, as well as clothing for children, including newborns, infants, toddlers, boys and girls; ladies’ sleepwear, lingerie and scrubs; and children’s uniforms and accessories.
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