Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Acquires $714,984.32 in Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc purchased 32,192 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average cost of $22.21 per share, with a total value of $714,984.32. Following the purchase, the insider now directly owns 2,102,805 shares of the company’s stock, valued at approximately $46,703,299.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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 Monday, May 20th, Fund 1 Investments, Llc acquired 16,100 shares of Citi Trends stock. The stock was bought at an average price of $23.23 per share, with a total value of $374,003.00.
• On Friday, May 17th, Fund 1 Investments, Llc bought 6,000 shares of Citi Trends stock. The shares were bought at an average cost of $23.07 per share, for a total transaction of $138,420.00.
• On Wednesday, May 15th, Fund 1 Investments, Llc acquired 15,785 shares of Citi Trends stock. The shares were bought at an average price of $24.07 per share, with a total value of $379,944.95.
• On Monday, May 13th, Fund 1 Investments, Llc bought 5,481 shares of Citi Trends stock. The stock was bought at an average price of $23.48 per share, for a total transaction of $128,693.88.
• On Monday, May 6th, Fund 1 Investments, Llc bought 6,330 shares of Citi Trends stock. The shares were purchased at an average cost of $22.76 per share, with a total value of $144,070.80.
• On Friday, May 3rd, Fund 1 Investments, Llc purchased 5,000 shares of Citi Trends stock. The stock was purchased at an average price of $22.07 per share, for a total transaction of $110,350.00.
• On Wednesday, May 1st, Fund 1 Investments, Llc acquired 30,000 shares of Citi Trends stock. The shares were purchased at an average price of $21.47 per share, with a total value of $644,100.00.
• On Monday, April 29th, Fund 1 Investments, Llc bought 10,800 shares of Citi Trends stock. The stock was purchased at an average price of $21.79 per share, for a total transaction of $235,332.00.
• On Friday, April 26th, Fund 1 Investments, Llc purchased 11,300 shares of Citi Trends stock. The shares were purchased at an average cost of $22.20 per share, for a total transaction of $250,860.00.
• On Wednesday, April 24th, Fund 1 Investments, Llc acquired 4,800 shares of Citi Trends stock. The stock was acquired at an average cost of $22.07 per share, with a total value of $105,936.00.

Citi Trends Trading Up 5.7 %

Shares of NASDAQ CTRN opened at $23.32 on Friday. The firm has a market capitalization of $199.15 million, a P/E ratio of -15.86 and a beta of 2.43. The firm’s 50-day moving average price is $24.15 and its 200-day moving average price is $26.19. Citi Trends, Inc. has a 1-year low of $14.20 and a 1-year high of $32.90.

Citi Trends (NASDAQ:CTRN) last issued its earnings results on Tuesday, March 19th. The company reported $0.53 EPS for the quarter. The business had revenue of $215.18 million during 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 institutional investors have recently modified their holdings of CTRN. SG Americas Securities LLC acquired a new stake in Citi Trends in the 1st quarter valued at $139,000. Jump Financial LLC bought a new position in shares of Citi Trends in the fourth quarter valued at $223,000. Hsbc Holdings PLC acquired a new position in shares of Citi Trends during the third quarter valued at about $229,000. Ancora Advisors LLC bought a new stake in shares of Citi Trends during the third quarter worth about $280,000. Finally, Empowered Funds LLC raised its holdings in shares of Citi Trends by 8.0% in the 1st quarter. Empowered Funds LLC now owns 21,257 shares of the company’s stock worth $577,000 after acquiring an additional 1,575 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CTRN shares. 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 restated a “hold” rating and set a $27.00 price target (down from $28.00) on shares of Citi Trends in a report on Tuesday, March 19th.

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.