Paradigm Capital Management Holds 9.9% Stake in Citi Trends
Ticker: CTRN · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 1318484
| Field | Detail |
|---|---|
| Company | Citi Trends INC (CTRN) |
| Form Type | SC 13G/A |
| Filed Date | Feb 12, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, retail-apparel
TL;DR
**Paradigm Capital Management still owns 9.9% of Citi Trends, showing continued institutional interest.**
AI Summary
Paradigm Capital Management, Inc. filed an amended SC 13G/A on February 12, 2024, disclosing its ownership in Citi Trends, Inc. As of December 29, 2023, Paradigm Capital Management beneficially owned 827,048 shares of Citi Trends' Common Stock, representing 9.9% of the company. This is an update to their previous filing, indicating a significant, but slightly reduced, stake in the apparel retailer. This matters to investors because Paradigm Capital Management remains a major shareholder, and their continued, albeit slightly smaller, position suggests they still see value in Citi Trends, even if they've trimmed their holdings.
Why It Matters
This filing shows that a significant institutional investor, Paradigm Capital Management, still has a large stake in Citi Trends, which can influence the company's stock performance and strategic decisions.
Risk Assessment
Risk Level: low — This filing is an update from a major shareholder and doesn't indicate any immediate negative or highly volatile events for the company.
Analyst Insight
Investors should note that a major institutional investor still holds a substantial position in Citi Trends, suggesting continued confidence, but the amendment number (Amendment No. 2) implies previous adjustments. It would be wise to compare this 9.9% ownership to their prior filings to understand if they are increasing or decreasing their stake, which could signal their evolving outlook on the company.
Key Numbers
- 827,048 — Shares Owned (Represents the total number of shares of Citi Trends Common Stock beneficially owned by Paradigm Capital Management, Inc. as of December 29, 2023.)
- 9.9% — Ownership Percentage (Indicates the percentage of Citi Trends' Common Stock that Paradigm Capital Management, Inc. beneficially owns, making them a significant shareholder.)
Key Players & Entities
- Paradigm Capital Management, Inc. (company) — the reporting person and institutional investor
- Citi Trends, Inc. (company) — the subject company whose stock is being reported
- 827,048 (dollar_amount) — number of shares beneficially owned by Paradigm Capital Management
- 9.9% (dollar_amount) — percentage of Citi Trends' common stock owned by Paradigm Capital Management
- December 29, 2023 (date) — the date of the event requiring the filing
Forward-Looking Statements
- Paradigm Capital Management will maintain a significant, but potentially fluctuating, stake in Citi Trends over the next year. (Paradigm Capital Management, Inc.) — medium confidence, target: 2025-02-12
FAQ
Who filed this SC 13G/A amendment?
Paradigm Capital Management, Inc. filed this SC 13G/A Amendment No. 2, as stated in the 'Name of Reporting Person(s)' section of the filing.
What company's stock is the subject of this filing?
The subject company is Citi Trends, Inc., as indicated by 'Name of Issuer' and 'COMPANY CONFORMED NAME' in the filing.
How many shares of Citi Trends Common Stock does Paradigm Capital Management, Inc. beneficially own?
Paradigm Capital Management, Inc. beneficially owns 827,048 shares of Citi Trends Common Stock, as reported under 'Sole Voting Power' on page 2 of the filing.
What percentage of Citi Trends' Common Stock does Paradigm Capital Management, Inc. own?
The filing states that Paradigm Capital Management, Inc. owns 9.9% of Citi Trends' Common Stock, as shown on page 3, Item 4.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 29, 2023, as specified on the cover page of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 12, 2024 regarding Citi Trends Inc (CTRN).