Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Acquires $110,350.00 in Stock

Posted by Editorial Team on May 8th, 2024

Citi Trends, Inc. (NASDAQ:CTRN – Get Free Report) major shareholder Fund 1 Investments, Llc acquired 5,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $22.07 per share, for a total transaction of $110,350.00. Following the purchase, the insider now directly owns 1,986,067 shares of the company’s stock, valued at $43,832,498.69. 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 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, May 6th, Fund 1 Investments, Llc bought 6,330 shares of Citi Trends stock. The stock was purchased at an average cost of $22.76 per share, with a total value of $144,070.80.
On Wednesday, May 1st, Fund 1 Investments, Llc acquired 30,000 shares of Citi Trends stock. The stock was purchased at an average cost 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 shares were 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 stock was acquired 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 stock was acquired at an average price of $22.07 per share, for a total transaction of $105,936.00.
On Monday, April 22nd, Fund 1 Investments, Llc bought 23,495 shares of Citi Trends stock. The shares were acquired 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 purchased 13,000 shares of Citi Trends stock. The stock was acquired at an average cost of $22.15 per share, for a total transaction 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 bought 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 bought at an average cost of $22.74 per share, with a total value of $386,580.00.

Citi Trends Stock Up 1.7 %

Citi Trends stock opened at $23.19 on Wednesday. Citi Trends, Inc. has a 52-week low of $14.20 and a 52-week high of $32.90. The firm’s fifty day moving average is $26.23 and its 200 day moving average is $26.28. The company has a market cap of $198.04 million, a price-to-earnings ratio of -15.78 and a beta of 2.43.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on CTRN. Craig Hallum reissued a “hold” rating and set a $27.00 price objective (down previously from $28.00) on shares of Citi Trends in a report on Tuesday, March 19th. Benchmark reissued a “buy” rating and set a $35.00 price target on shares of Citi Trends in a research note on Wednesday, March 20th.

View Our Latest Stock Analysis on Citi Trends

Institutional Investors Weigh In On Citi Trends

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTRN. Fund 1 Investments LLC boosted its holdings in shares of Citi Trends by 55.6% in the 4th 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 during the period. Jennison Associates LLC lifted its position in Citi Trends by 47.5% in the third quarter. Jennison Associates LLC now owns 376,278 shares of the company’s stock worth $8,361,000 after buying an additional 121,134 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in Citi Trends during the third quarter worth $2,254,000. Assenagon Asset Management S.A. bought a new position in Citi Trends during the third quarter valued at $1,617,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Citi Trends in the third quarter valued at $1,089,000.

About Citi Trends

(Get Free Report)

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.