Insider Buying: Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Purchases 4,800 Shares of Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc purchased 4,800 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were acquired at an average cost of $22.07 per share, for a total transaction of $105,936.00. Following the transaction, the insider now owns 1,869,167 shares of the company’s stock, valued at $41,252,515.69. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% 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 Friday, April 26th, Fund 1 Investments, Llc purchased 11,300 shares of Citi Trends stock. The shares were acquired at an average cost of $22.20 per share, for a total transaction of $250,860.00.
• On Monday, April 22nd, Fund 1 Investments, Llc purchased 23,495 shares of Citi Trends stock. The shares were acquired at an average cost of $21.74 per share, for a total transaction of $510,781.30.
• On Friday, April 19th, Fund 1 Investments, Llc purchased 13,000 shares of Citi Trends stock. The shares were 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 purchased 18,090 shares of Citi Trends stock. The shares were acquired at an average cost of $22.41 per share, for a total transaction of $405,396.90.
• On Monday, April 15th, Fund 1 Investments, Llc acquired 5,136 shares of Citi Trends stock. The shares were purchased at an average price of $22.41 per share, with a total value of $115,097.76.
• On Friday, April 12th, Fund 1 Investments, Llc acquired 17,000 shares of Citi Trends stock. The shares were purchased at an average price of $22.74 per share, with a total value of $386,580.00.
• On Wednesday, April 10th, Fund 1 Investments, Llc purchased 20,282 shares of Citi Trends stock. The shares were purchased at an average cost of $23.12 per share, with a total value of $468,919.84.
• On Monday, April 8th, Fund 1 Investments, Llc acquired 6,000 shares of Citi Trends stock. The stock was bought at an average cost of $24.35 per share, with a total value of $146,100.00.
• On Thursday, April 4th, Fund 1 Investments, Llc acquired 5,000 shares of Citi Trends stock. The stock was bought at an average cost of $25.19 per share, with a total value of $125,950.00.
• On Tuesday, April 2nd, Fund 1 Investments, Llc acquired 2,000 shares of Citi Trends stock. The stock was bought at an average cost of $26.92 per share, with a total value of $53,840.00.

Citi Trends Price Performance

CTRN stock traded up $0.74 during midday trading on Friday, reaching $22.52. 75,391 shares of the stock were exchanged, compared to its average volume of 76,406. The company has a fifty day moving average price of $27.27 and a 200 day moving average price of $26.34. Citi Trends, Inc. has a 52 week low of $14.20 and a 52 week high of $32.90. The stock has a market capitalization of $192.32 million, a PE ratio of -14.96 and a beta of 2.37.

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

Institutional Investors Weigh In On Citi Trends

Several institutional investors and hedge funds have recently made changes to their positions in CTRN. Jennison Associates LLC boosted its holdings 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 acquiring an additional 121,134 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Citi Trends in the third quarter worth approximately $1,617,000. Barclays PLC lifted its holdings in shares of Citi Trends by 4,172.0% in the third quarter. Barclays PLC now owns 41,481 shares of the company’s stock valued at $921,000 after purchasing an additional 40,510 shares in the last quarter. First Eagle Investment Management LLC bought a new position in shares of Citi Trends in the third quarter valued at approximately $2,254,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Citi Trends by 13.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 193,036 shares of the company’s stock valued at $4,289,000 after purchasing an additional 22,311 shares in the last quarter.

Analysts Set New Price Targets

CTRN has been the subject of several analyst reports. Benchmark reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Citi Trends in a report on Wednesday, March 20th. Craig Hallum reiterated 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.

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.