Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Acquires $144,070.80 in Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc purchased 6,330 shares of Citi Trends stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $22.76 per share, for a total transaction of $144,070.80. Following the transaction, the insider now directly owns 1,992,397 shares of the company’s stock, valued at approximately $45,346,955.72. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, May 3rd, Fund 1 Investments, Llc acquired 5,000 shares of Citi Trends stock. The stock was acquired at an average cost of $22.07 per share, with a total value of $110,350.00.
• On Wednesday, May 1st, Fund 1 Investments, Llc bought 30,000 shares of Citi Trends stock. The shares were acquired at an average price of $21.47 per share, for a total transaction of $644,100.00.
• On Monday, April 29th, Fund 1 Investments, Llc purchased 10,800 shares of Citi Trends stock. The stock was bought at an average price of $21.79 per share, with a total value of $235,332.00.
• On Friday, April 26th, Fund 1 Investments, Llc acquired 11,300 shares of Citi Trends stock. The shares were bought at an average price of $22.20 per share, for a total transaction of $250,860.00.
• On Wednesday, April 24th, Fund 1 Investments, Llc bought 4,800 shares of Citi Trends stock. The stock was bought 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 purchased 23,495 shares of Citi Trends stock. The shares were 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 price of $22.15 per share, with a total value of $287,950.00.
• On Wednesday, April 17th, Fund 1 Investments, Llc bought 18,090 shares of Citi Trends stock. The stock was purchased at an average cost of $22.41 per share, for a total transaction of $405,396.90.
• On Monday, April 15th, Fund 1 Investments, Llc purchased 5,136 shares of Citi Trends stock. The shares were purchased at an average cost of $22.41 per share, with a total value of $115,097.76.
• On Friday, April 12th, Fund 1 Investments, Llc acquired 17,000 shares of Citi Trends stock. The stock was purchased at an average cost of $22.74 per share, with a total value of $386,580.00.

Citi Trends Stock Up 0.4 %

Shares of CTRN stock opened at $23.03 on Friday. The firm has a market cap of $196.61 million, a price-to-earnings ratio of -15.67 and a beta of 2.43. Citi Trends, Inc. has a 52-week low of $14.20 and a 52-week high of $32.90. The company’s 50 day moving average is $25.94 and its 200 day moving average is $26.24.

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 business 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%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Benchmark reaffirmed a “buy” rating and set a $35.00 target price on shares of Citi Trends in a research note on Wednesday, March 20th. Craig Hallum reiterated 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.

Institutional Trading of Citi Trends

Several hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Citi Trends in the 1st quarter worth approximately $139,000. Empowered Funds LLC boosted its stake in Citi Trends by 8.0% in the first quarter. Empowered Funds LLC now owns 21,257 shares of the company’s stock valued at $577,000 after acquiring an additional 1,575 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Citi Trends by 89.5% in the first quarter. Assenagon Asset Management S.A. now owns 118,772 shares of the company’s stock worth $3,222,000 after purchasing an additional 56,087 shares during the last quarter. Fund 1 Investments LLC increased its position in shares of Citi Trends by 55.6% during the fourth quarter. Fund 1 Investments LLC now owns 1,329,342 shares of the company’s stock worth $37,594,000 after purchasing an additional 474,736 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Citi Trends by 22.1% during the 4th quarter. Franklin Resources Inc. now owns 50,197 shares of the company’s stock valued at $1,420,000 after purchasing an additional 9,074 shares during the last quarter.

Citi Trends Company Profile

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.