Insider Buying: Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Purchases 11,300 Shares of Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc bought 11,300 shares of Citi Trends stock in a transaction that occurred on Friday, April 26th. The shares were acquired at an average price of $22.20 per share, with a total value of $250,860.00. Following the completion of the transaction, the insider now owns 1,889,467 shares of the company’s stock, valued at $41,946,167.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Fund 1 Investments, Llc also recently made the following trade(s):

• On Wednesday, April 24th, Fund 1 Investments, Llc purchased 4,800 shares of Citi Trends stock. The shares were acquired at an average price of $22.07 per share, with a total value of $105,936.00.
• On Monday, April 22nd, Fund 1 Investments, Llc acquired 23,495 shares of Citi Trends stock. The stock was bought at an average price of $21.74 per share, for a total transaction of $510,781.30.
• On Friday, April 19th, Fund 1 Investments, Llc purchased 13,000 shares of Citi Trends stock. The stock was bought at an average cost of $22.15 per share, with a total value of $287,950.00.
• On Wednesday, April 17th, Fund 1 Investments, Llc acquired 18,090 shares of Citi Trends stock. The shares were bought at an average cost of $22.41 per share, with a total value of $405,396.90.
• On Monday, April 15th, Fund 1 Investments, Llc bought 5,136 shares of Citi Trends stock. The stock was purchased at an average cost of $22.41 per share, for a total transaction of $115,097.76.
• On Friday, April 12th, Fund 1 Investments, Llc purchased 17,000 shares of Citi Trends stock. The shares were purchased at an average cost of $22.74 per share, with a total value of $386,580.00.
• On Wednesday, April 10th, Fund 1 Investments, Llc acquired 20,282 shares of Citi Trends stock. The shares were purchased at an average cost of $23.12 per share, for a total transaction of $468,919.84.
• On Monday, April 8th, Fund 1 Investments, Llc bought 6,000 shares of Citi Trends stock. The stock was purchased at an average cost of $24.35 per share, with a total value of $146,100.00.
• On Thursday, April 4th, Fund 1 Investments, Llc acquired 5,000 shares of Citi Trends stock. The stock was acquired at an average price of $25.19 per share, with a total value of $125,950.00.
• On Tuesday, April 2nd, Fund 1 Investments, Llc bought 2,000 shares of Citi Trends stock. The shares were acquired at an average cost of $26.92 per share, for a total transaction of $53,840.00.

Citi Trends Stock Up 3.4 %

Shares of Citi Trends stock opened at $22.52 on Friday. The firm has a market cap of $192.32 million, a PE ratio of -14.96 and a beta of 2.37. The company’s fifty day simple moving average is $27.27 and its two-hundred day simple moving average is $26.34. Citi Trends, Inc. has a 12-month low of $14.20 and a 12-month high of $32.90.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.53 earnings per share (EPS) for the quarter. The company had revenue of $215.18 million for the quarter. Citi Trends had a negative return on equity of 6.74% and a negative net margin of 1.60%.

Hedge Funds Weigh In On Citi Trends

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jump Financial LLC purchased a new stake in Citi Trends in the fourth quarter worth $223,000. Hsbc Holdings PLC bought a new position in Citi Trends in the 3rd quarter worth $229,000. Ancora Advisors LLC purchased a new stake in shares of Citi Trends in the 3rd quarter worth about $280,000. Quadrature Capital Ltd boosted its stake in shares of Citi Trends by 71.7% during the 3rd quarter. Quadrature Capital Ltd now owns 28,241 shares of the company’s stock valued at $628,000 after purchasing an additional 11,791 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of Citi Trends by 60,229.1% during the third quarter. Citigroup Inc. now owns 33,181 shares of the company’s stock valued at $737,000 after buying an additional 33,126 shares during the period.

Analysts Set New Price Targets

CTRN has been the subject of several analyst reports. Benchmark restated a “buy” rating and set a $35.00 price target on shares of Citi Trends in a research report on Wednesday, March 20th. Craig Hallum reissued a “hold” rating and issued a $27.00 target price (down previously from $28.00) on shares of Citi Trends in a research note on Tuesday, March 19th.

About Citi Trends

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. It offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.