Insider Buying: Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Acquires $644,100.00 in Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc acquired 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average price of $21.47 per share, with a total value of $644,100.00. Following the acquisition, the insider now directly owns 1,981,067 shares of the company’s stock, valued at approximately $42,533,508.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, April 29th, Fund 1 Investments, Llc acquired 10,800 shares of Citi Trends stock. The shares were 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, with a total value of $250,860.00.
• On Wednesday, April 24th, Fund 1 Investments, Llc acquired 4,800 shares of Citi Trends stock. The shares were 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 acquired 23,495 shares of Citi Trends stock. The shares were bought at an average price of $21.74 per share, with a total value of $510,781.30.
• On Friday, April 19th, Fund 1 Investments, Llc bought 13,000 shares of Citi Trends stock. The stock was acquired 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 acquired at an average price 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 shares were 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 bought 17,000 shares of Citi Trends stock. The shares were purchased at an average cost of $22.74 per share, for a total transaction of $386,580.00.
• On Wednesday, April 10th, Fund 1 Investments, Llc bought 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 shares were purchased at an average cost of $24.35 per share, for a total transaction of $146,100.00.

Citi Trends Price Performance

CTRN stock opened at $22.10 on Friday. Citi Trends, Inc. has a one year low of $14.20 and a one year high of $32.90. The stock has a market cap of $188.73 million, a PE ratio of -15.03 and a beta of 2.43. The firm has a 50 day simple moving average of $26.48 and a two-hundred day simple moving average of $26.28.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Benchmark reissued a “buy” rating and issued a $35.00 price target on shares of Citi Trends in a research note on Wednesday, March 20th. Craig Hallum reissued a “hold” rating and issued a $27.00 price target (down previously from $28.00) on shares of Citi Trends in a research note on Tuesday, March 19th.

Institutional Investors Weigh In On Citi Trends

Institutional investors have recently made changes to their positions in the business. Jump Financial LLC purchased a new stake in shares of Citi Trends in the 4th quarter valued at $223,000. Hsbc Holdings PLC purchased a new stake in shares of Citi Trends in the 3rd quarter valued at $229,000. Ancora Advisors LLC purchased a new stake in Citi Trends during the 3rd quarter valued at $280,000. Quadrature Capital Ltd boosted its position in 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 buying an additional 11,791 shares during the period. Finally, Citigroup Inc. boosted its position in Citi Trends by 60,229.1% during the 3rd 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.

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.