Short Interest in Citi Trends, Inc. (NASDAQ:CTRN) Expands By 15.2%

Citi Trends, Inc. (NASDAQ:CTRNGet Free Report) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,080,000 shares, an increase of 15.2% from the February 29th total of 937,300 shares. Approximately 13.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 75,800 shares, the days-to-cover ratio is currently 14.2 days.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Craig Hallum reiterated a “hold” rating and issued a $27.00 target price (down from $28.00) on shares of Citi Trends in a research report on Tuesday, March 19th. 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.

View Our Latest Analysis on Citi Trends

Insider Buying and Selling

In other Citi Trends news, major shareholder Fund 1 Investments, Llc acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was acquired at an average cost of $26.92 per share, for a total transaction of $53,840.00. Following the transaction, the insider now directly owns 1,678,664 shares in the company, valued at $45,189,634.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired a total of 160,938 shares of company stock worth $4,830,742 in the last ninety days. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Citi Trends

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in Citi Trends during the third quarter worth approximately $1,089,000. Citigroup Inc. grew its stake in Citi Trends by 60,229.1% during the third quarter. Citigroup Inc. now owns 33,181 shares of the company’s stock worth $737,000 after purchasing an additional 33,126 shares during the period. Jennison Associates LLC grew its stake in Citi Trends by 47.5% during the third quarter. Jennison Associates LLC now owns 376,278 shares of the company’s stock worth $8,361,000 after purchasing an additional 121,134 shares during the period. Hsbc Holdings PLC acquired a new stake in Citi Trends during the third quarter worth approximately $229,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Citi Trends during the third quarter worth approximately $1,617,000.

Citi Trends Trading Down 2.0 %

NASDAQ CTRN traded down $0.56 during trading hours on Tuesday, hitting $27.02. 51,179 shares of the company’s stock were exchanged, compared to its average volume of 75,746. The stock has a 50-day simple moving average of $29.02 and a 200 day simple moving average of $26.20. Citi Trends has a 1-year low of $14.20 and a 1-year high of $32.90. The firm has a market cap of $230.75 million, a price-to-earnings ratio of -18.38 and a beta of 2.37.

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.

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