Jennison Associates Holds 416,029 Shares of Citi Trends (CTRN)
Ticker: CTRN · Form: SC 13G/A · Filed: Feb 8, 2024 · CIK: 1318484
| Field | Detail |
|---|---|
| Company | Citi Trends INC (CTRN) |
| Form Type | SC 13G/A |
| Filed Date | Feb 8, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, CTRN
TL;DR
**Jennison Associates still owns 416,029 shares of Citi Trends, signaling institutional confidence.**
AI Summary
Jennison Associates LLC, a New York-based investment manager, filed an amended SC 13G/A on February 8, 2024, disclosing its ownership of 416,029 shares of Citi Trends, Inc. common stock as of December 31, 2023. This represents a significant holding, giving Jennison Associates LLC sole voting power over these shares and shared dispositive power. This matters to investors because it indicates a major institutional investor's continued interest and confidence in Citi Trends, Inc., potentially signaling stability or future growth prospects for the stock.
Why It Matters
This filing shows a large institutional investor, Jennison Associates LLC, maintains a substantial stake in Citi Trends, Inc., which can be seen as a vote of confidence in the company's future performance.
Risk Assessment
Risk Level: low — This filing indicates a stable institutional holding, which generally reduces perceived risk for other investors.
Analyst Insight
Investors should note that a major institutional investor maintains a substantial position in Citi Trends, Inc., which could be a positive signal, but further research into the company's fundamentals and Jennison's investment strategy would be prudent.
Key Numbers
- 416,029 — Shares Beneficially Owned (Represents Jennison Associates LLC's significant stake in Citi Trends, Inc.)
Key Players & Entities
- Jennison Associates LLC (company) — the reporting person and institutional investor
- Citi Trends, Inc. (company) — the subject company whose stock is being reported
- 416,029 shares (dollar_amount) — the number of shares beneficially owned by Jennison Associates LLC
- December 31, 2023 (date) — the date of the event requiring the filing
- February 8, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- Jennison Associates LLC will maintain its significant stake in Citi Trends, Inc. for the foreseeable future. (Jennison Associates LLC) — medium confidence, target: Q4 2024
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person is Jennison Associates LLC, as stated in the 'Name of Reporting Person' section.
What is the subject company whose securities are being reported?
The subject company is Citi Trends, Inc., as identified under 'Name of Issuer'.
How many shares of Citi Trends, Inc. common stock does Jennison Associates LLC beneficially own?
Jennison Associates LLC beneficially owns 416,029 shares of Citi Trends, Inc. common stock, as detailed in 'Number of Shares Beneficially Owned By Each Reporting Person With: 5. Sole Voting Power: 416,029 shares' and '8. Shared Dispositive Power: 416,029 shares'.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023, as specified in the filing.
What type of power does Jennison Associates LLC have over these shares?
Jennison Associates LLC has sole voting power over 416,029 shares and shared dispositive power over 416,029 shares, according to items 5 and 8 of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 8, 2024 regarding Citi Trends Inc (CTRN).