Anchor Capital Advisors LLC Buys 14,421 Shares of Citi Trends, Inc. (NASDAQ:CTRN)

Anchor Capital Advisors LLC lifted its holdings in Citi Trends, Inc. (NASDAQ:CTRN) by 44.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,626 shares of the company’s stock after acquiring an additional 14,421 shares during the period. Anchor Capital Advisors LLC owned approximately 0.55% of Citi Trends worth $1,319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CTRN. Jennison Associates LLC boosted its position in shares of Citi Trends by 47.5% during the third quarter. Jennison Associates LLC now owns 376,278 shares of the company’s stock valued at $8,361,000 after purchasing an additional 121,134 shares in the last quarter. First Eagle Investment Management LLC bought a new position in shares of Citi Trends during the 3rd quarter valued at approximately $2,254,000. Assenagon Asset Management S.A. bought a new position in shares of Citi Trends in the third quarter worth about $1,617,000. Acadian Asset Management LLC bought a new stake in Citi Trends in the 3rd quarter valued at $1,089,000. Finally, Barclays PLC raised its holdings in shares of Citi Trends by 4,172.0% during the 3rd quarter. Barclays PLC now owns 41,481 shares of the company’s stock worth $921,000 after acquiring an additional 40,510 shares in the last quarter.

Insiders Place Their Bets

In other news, major shareholder Fund 1 Investments, Llc acquired 70,804 shares of the stock in a transaction on Thursday, February 29th. The shares were purchased at an average price of $30.51 per share, for a total transaction of $2,160,230.04. Following the transaction, the insider now directly owns 1,400,146 shares of the company’s stock, valued at $42,718,454.46. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders have purchased 285,041 shares of company stock worth $7,634,314. Company insiders own 4.20% of the company’s stock.

Citi Trends Price Performance

NASDAQ:CTRN traded down $0.26 during mid-day trading on Tuesday, reaching $21.87. 10,211 shares of the stock were exchanged, compared to its average volume of 76,037. Citi Trends, Inc. has a 1-year low of $14.20 and a 1-year high of $32.90. The business has a fifty day moving average price of $26.98 and a 200 day moving average price of $26.37.

Citi Trends (NASDAQ:CTRN) last announced its earnings results on Tuesday, March 19th. The company reported $0.53 earnings per share for the quarter. Citi Trends had a negative return on equity of 6.74% and a negative net margin of 1.60%. The firm had revenue of $215.18 million during the quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CTRN shares. Benchmark reissued a “buy” rating and issued a $35.00 target price on shares of Citi Trends in a research report on Wednesday, March 20th. Craig Hallum reiterated a “hold” rating and issued a $27.00 target price (down from $28.00) on shares of Citi Trends in a research report on Tuesday, March 19th.

About Citi Trends

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. It 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.