Garnet Equity Capital Holdings buys $3,084,764 stake in Citi Trends (CTRN)

Citi Trends (CTRN) : Garnet Equity Capital Holdings scooped up 17,370 additional shares in Citi Trends during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 175,770 shares of Citi Trends which is valued at $3,084,764.Citi Trends makes up approximately 3.73% of Garnet Equity Capital Holdings’s portfolio.

Other Hedge Funds, Including , New York State Common Retirement Fund boosted its stake in CTRN in the latest quarter, The investment management firm added 6,602 additional shares and now holds a total of 24,102 shares of Citi Trends which is valued at $422,990. Nine Chapters Capital Management sold out all of its stake in CTRN during the most recent quarter. The investment firm sold 31,300 shares of CTRN which is valued $547,124.Mufg Americas Holdings Corp boosted its stake in CTRN in the latest quarter, The investment management firm added 192 additional shares and now holds a total of 842 shares of Citi Trends which is valued at $14,794. Gsa Capital Partners Llp added CTRN to its portfolio by purchasing 55,295 company shares during the most recent quarter which is valued at $979,274. Citi Trends makes up approx 0.05% of Gsa Capital Partners Llp’s portfolio. Stoneridge Investment Partners added CTRN to its portfolio by purchasing 13,058 company shares during the most recent quarter which is valued at $225,120. Citi Trends makes up approx 0.03% of Stoneridge Investment Partners’s portfolio.

Citi Trends closed down -0.12 points or -0.61% at $19.7 with 1,34,176 shares getting traded on Friday. Post opening the session at $19.83, the shares hit an intraday low of $19.5 and an intraday high of $20.349 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Citi Trends reported $-0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 17, 2016. Analyst had a consensus of $-0.06. The company had revenue of $155.30 million for the quarter, compared to analysts expectations of $153.20 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS.

Many Wall Street Analysts have commented on Citi Trends. Shares were Reiterated by MKM Partners on May 18, 2016 to “Neutral” and Lowered the Price Target to $ 16 from a previous price target of $19 .

Citi Trends Inc. is a retailer of urban fashion apparel and accessories. The Company’s stores average approximately 10800 square feet of selling space and are located in shopping centers. As of January 31 2015 the Company operated 511 stores in both urban and rural markets in 29 states. The Company offers products under its brands such as Citi Steps Red Ape Vintage Harlem and Lil Ms Hollywood. The Company’s merchandise includes apparel accessories and home. Within apparel the Company offers fashion sportswear for men women and children including offerings for newborns infants toddlers boys and girls. Accessories include handbags jewelry footwear belts intimate apparel scrubs and sleepwear. Home includes decorative home product functional home product beauty books toys and electronic accessories. The Company sources its merchandise from over 1600 vendors consisting of domestic manufacturers and importers.

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