JPMorgan Chase & Co. Cuts Position in Citi Trends, Inc. (NASDAQ:CTRN)

JPMorgan Chase & Co. decreased its stake in Citi Trends, Inc. (NASDAQ:CTRN) by 19.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in Citi Trends in the third quarter valued at approximately $40,000. Quantbot Technologies LP lifted its position in shares of 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 in the last quarter. Jane Street Group LLC acquired a new position in shares of Citi Trends during the third quarter worth $193,000. XTX Topco Ltd acquired a new position in shares of Citi Trends during the third quarter worth $339,000. Finally, Empowered Funds LLC lifted its position in shares of Citi Trends by 5.3% during the third quarter. Empowered Funds LLC now owns 24,083 shares of the company’s stock worth $442,000 after purchasing an additional 1,206 shares in the last quarter.

Wall Street Analyst Weigh In

CTRN has been the topic of a number of research reports. DA Davidson increased their target price on shares of Citi Trends from $20.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. StockNews.com lowered shares of Citi Trends from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Craig Hallum increased their price objective 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 firm’s stock in a transaction on Thursday, December 26th. The stock was 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 directly owns 33,396 shares of the company’s stock, valued at $882,990.24. This trade represents a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

Citi Trends Trading Down 5.8 %

Shares of Citi Trends stock opened at $24.39 on Tuesday. The company’s fifty day simple moving average is $25.31 and its 200-day simple moving average is $20.37. The company has a market cap of $212.44 million, a price-to-earnings ratio of -7.94 and a beta of 2.27. Citi Trends, Inc. has a 1 year low of $13.65 and a 1 year high of $32.90.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, December 3rd. The company reported ($0.78) earnings per share (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 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.