The New Alliancebernstein L.P. Holding in Citi Trends Inc
Alliancebernstein L.P. filed with the SEC SC 13G/A form for Citi Trends Inc. The form can be accessed here: 000153215516000243. As reported in Alliancebernstein L.P.’s form, the filler as of late owns 10% or 1,494,407 shares of the Consumer Discretionary–company.
Citi Trends Inc stake is a new one for the for the hedge fund and it was filed because of activity on September 30, 2016. We feel this shows Alliancebernstein L.P.’s positive view for the stock. For a hedge fund managing $431.00 billion in assets and having 3355+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.
The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Alliancebernstein L.P.’s US equities portfolio is in this sector.
Citi Trends Inc Institutional Sentiment
Latest Security and Exchange filings show 118 investors own Citi Trends Inc. The institutional ownership in Q3 2015 is high, at 127.50% of the outstanding shares. This is increased by 4936501 the total institutional shares. 18984641 were the shares owned by these institutional investors. In total 9 funds opened new Citi Trends Inc stakes, 51 increased stakes. There were 8 that closed positions and 42 reduced them.
2 managers had the stock in their top Ten. Notable investors are: Paradigm Capital Management Inc Ny..
True Bearing Asset Management Lp is an institutional investor bullish on Citi Trends Inc, owning 43486 shares as of Q3 2015 for 1.73% of its portfolio. Wilmot B. Harkey And Daniel Mack Nantahala Capital Management Llc owns 439745 shares or 1.40% of its portfolio. CA Malaga Cove Capital Llc have 2.10% of their stock portfolio for 111421 shares. Further, Garnet Equity Capital Holdings Inc reported stake worth 1.81% of its US stock portfolio. The WA Rotella Capital Management Inc owns 71469 shares. Citi Trends Inc is 0.54% of the manager’s US portfolio.
Citi Trends, Inc. is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. 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. The Company’s home merchandise includes decorative home product, functional home product, beauty, books, toys and electronic accessories. The Company sources its merchandise from approximately 1,700 vendors, consisting of domestic manufacturers and importers.
SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.
Alliancebernstein L.P. website.
Insitutional Activity: The institutional sentiment decreased to 0.87 in Q2 2016. Its down 0.11, from 0.98 in 2016Q1. The ratio turned negative, as 16 funds sold all Citi Trends, Inc. shares owned while 31 reduced positions. 10 funds bought stakes while 31 increased positions. They now own 13.23 million shares or 5.62% less from 14.01 million shares in 2016Q1.
Shell Asset holds 0.02% of its portfolio in Citi Trends, Inc. (NASDAQ:CTRN) for 66,115 shares. Schwab Charles Invest Mgmt Incorporated last reported 0% of its portfolio in the stock. Voya Mngmt Ltd Liability Company accumulated 0% or 10,410 shares. Ladenburg Thalmann Services accumulated 11 shares or 0% of the stock. Wall Street Associates has invested 0.54% of its portfolio in Citi Trends, Inc. (NASDAQ:CTRN). California State Teachers Retirement Systems has 0% invested in the company for 30,184 shares. Pacific Ridge Prtnrs Ltd Limited Liability Company owns 64,540 shares or 0.45% of their US portfolio. Aegis owns 54,289 shares or 0.82% of their US portfolio. Morgan Stanley reported 4,395 shares or 0% of all its holdings. Moreover, Blackrock Fund Advsrs has 0% invested in Citi Trends, Inc. (NASDAQ:CTRN) for 372,630 shares. Moreover, Rutabaga Mngmt Ltd Co Ma has 0.41% invested in Citi Trends, Inc. (NASDAQ:CTRN) for 141,466 shares. Comml Bank Of New York Mellon owns 89,650 shares or 0% of their US portfolio. Northpointe Ltd Llc last reported 175,070 shares in the company. Alliancebernstein Lp holds 1.48 million shares or 0.02% of its portfolio. Stoneridge Prtn Ltd Limited Liability Company, a Pennsylvania-based fund reported 13,058 shares.
About 44,070 shares traded hands. Citi Trends, Inc. (NASDAQ:CTRN) has risen 4.06% since March 4, 2016 and is uptrending. It has underperformed by 3.98% the S&P500.
Citi Trends, Inc. is a retailer of urban fashion apparel and accessories. The company has a market cap of $289.86 million. The Company’s segment is retail operations. It has a 22.51 P/E ratio. The Firm operates approximately 520 stores in both urban and rural markets in over 30 states.
Citi Trends, Inc. (NASDAQ:CTRN) Ratings Coverage
Out of 2 analysts covering Citi Trends (NASDAQ:CTRN), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. $35 is the highest target while $20 is the lowest. The $26 average target is 32.65% above today’s ($19.6) stock price. Citi Trends has been the topic of 4 analyst reports since August 19, 2015 according to StockzIntelligence Inc. The rating was upgraded by Zacks on Friday, August 21 to “Hold”. The stock has “Neutral” rating given by Sidoti on Tuesday, April 5. On Monday, February 8 the stock rating was downgraded by M Partners to “Neutral”.
More recent Citi Trends, Inc. (NASDAQ:CTRN) news were published by: Wsj.com which released: “Citi Trends Taps New CEO As Results Top Views” on March 13, 2015. Also Businesswire.com published the news titled: “Citi Trends Announces First Quarter 2016 Results and Declares Quarterly Dividend” on May 18, 2016. Nasdaq.com‘s news article titled: “Why Citi Trends (CTRN) is a Touch-Me-Not Stock for Investors” with publication date: July 18, 2016 was also an interesting one.
According to Zacks Investment Research, “Citi Trends, Inc. is a value-priced retailer of urban fashion apparel and accessories for the entire family. The Company currently operates stores located in the South, Southeast and Mid-Atlantic region.”
CTRN Company Profile
Citi Trends, Inc., incorporated on March 3, 1999, is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Firm operates approximately 520 stores in both urban and rural markets in over 30 states. The Firm offers products under its brands, such as Citi Steps and Red Ape.
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