Assenagon Asset Management S.A. Takes $3.62 Million Position in Citi Trends, Inc. $CTRN

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Assenagon Asset Management S.A. has initiated a position in Citi Trends, Inc. (NASDAQ:CTRN), purchasing 86,996 shares valued at approximately $3.62 million, which represents about 1.04% of the company. Despite beating quarterly earnings and revenue estimates, Citi Trends shows thin profitability with a net margin of 0.64% and a negative return on equity of 4.85%. Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $68.00.

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