Insider Selling: Citi Trends (NASDAQ:CTRN) VP Sells $25,285.00 in Stock

Citi Trends, Inc. (NASDAQ:CTRN) VP Katrina George sold 500 shares of the stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $50.57, for a total transaction of $25,285.00. Following the sale, the vice president directly owned 5,213 shares of the company’s stock, valued at approximately $263,621.41. The trade was a 8.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Citi Trends Stock Performance

NASDAQ:CTRN opened at $49.94 on Friday. Citi Trends, Inc. has a fifty-two week low of $34.43 and a fifty-two week high of $77.91. The stock has a market capitalization of $416.45 million, a P/E ratio of 60.90 and a beta of 1.81. The company’s 50-day simple moving average is $61.48 and its 200-day simple moving average is $55.57.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Tuesday, August 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.37. The firm had revenue of $211.63 million for the quarter, compared to the consensus estimate of $211.60 million. Citi Trends had a net margin of 0.84% and a return on equity of 8.11%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings raised Citi Trends from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 9th. Wall Street Zen cut Citi Trends from a “buy” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, DA Davidson set a $81.00 price objective on Citi Trends in a research report on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.00.

Hedge Funds Weigh In On Citi Trends

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Citi Trends in the 2nd quarter worth approximately $29,400,000. AWM Investment Company Inc. acquired a new position in Citi Trends during the 2nd quarter valued at approximately $7,758,000. Panoramic Capital LLC acquired a new position in Citi Trends during the 2nd quarter valued at approximately $7,085,000. Miller Value Partners LLC acquired a new position in Citi Trends during the 2nd quarter valued at approximately $3,135,000. Finally, Man Group plc purchased a new position in shares of Citi Trends in the second quarter worth $2,808,000.

About Citi Trends

Citi Trends, Inc is a value-oriented retailer specializing in fashionable apparel, accessories, footwear and home goods for primarily African American and Latinx families. The company offers merchandise for women, men and children, including casual clothing, seasonal items, jewelry, beauty products, toys and household goods.

Based in Savannah, Georgia, Citi Trends sells its products through a nationwide network of brick-and-mortar stores and its e-commerce platform. Its stores are generally located in urban and value-focused communities across the United States, with merchandise assortments designed to reflect local customer preferences and trends.

The company traces its roots to 1946, when it was established as Allied Department Stores, and adopted the Citi Trends name in 2001.