Citi Trends, Inc. (NASDAQ:CTRN) Director Jonathan Duskin sold 10,800 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $32.53, for a total value of $351,324.00. Following the transaction, the director now directly owns 5,009 shares of the company’s stock, valued at approximately $162,942.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
CTRN stock traded down $0.54 during midday trading on Thursday, reaching $31.05. 90,300 shares of the stock were exchanged, compared to its average volume of 106,902. The firm has a market capitalization of $445.87 million, a P/E ratio of 24.44 and a beta of 0.27. Citi Trends, Inc. has a 52 week low of $17.60 and a 52 week high of $34.90.
Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Thursday, August 23rd. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.17. The business had revenue of $182.00 million for the quarter, compared to analyst estimates of $178.50 million. Citi Trends had a return on equity of 10.48% and a net margin of 2.61%. Citi Trends’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. sell-side analysts anticipate that Citi Trends, Inc. will post 1.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 31st. This represents a $0.32 dividend on an annualized basis and a yield of 1.03%. Citi Trends’s dividend payout ratio is currently 25.40%.
A number of equities analysts have recently commented on the company. BidaskClub raised Citi Trends from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. ValuEngine raised Citi Trends from a “hold” rating to a “buy” rating in a report on Wednesday, May 16th.
Hedge funds have recently modified their holdings of the stock. LSV Asset Management grew its position in Citi Trends by 1.6% during the 1st quarter. LSV Asset Management now owns 163,800 shares of the company’s stock worth $5,063,000 after acquiring an additional 2,600 shares during the last quarter. Acadian Asset Management LLC grew its position in Citi Trends by 14.8% during the 2nd quarter. Acadian Asset Management LLC now owns 95,122 shares of the company’s stock worth $2,610,000 after acquiring an additional 12,228 shares during the last quarter. Cambria Investment Management L.P. bought a new stake in Citi Trends during the 1st quarter worth $296,000. BlackRock Inc. grew its position in Citi Trends by 2.3% during the 1st quarter. BlackRock Inc. now owns 1,412,244 shares of the company’s stock worth $43,653,000 after acquiring an additional 32,270 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its position in Citi Trends by 329.3% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 37,630 shares of the company’s stock worth $1,163,000 after acquiring an additional 28,865 shares during the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.
Citi Trends Company Profile
Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, including fashion sportswear for men and women, as well as children, such as newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional and decorative home products, as well as beauty products, books, and toys.
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