Citi Trends, Inc. (NASDAQ:CTRN) Short Interest Update

Citi Trends, Inc. (NASDAQ:CTRN) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 1,520,000 shares, a decrease of 6.2% from the September 30th total of 1,620,000 shares. Based on an average trading volume of 152,200 shares, the short-interest ratio is currently 10.0 days. Currently, 19.2% of the shares of the company are sold short.

Insider Buying and Selling

In other news, CFO Heather L. Plutino acquired 3,573 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $13.99 per share, with a total value of $49,986.27. Following the completion of the acquisition, the chief financial officer now owns 21,316 shares of the company’s stock, valued at approximately $298,210.84. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Heather L. Plutino acquired 3,573 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $13.99 per share, with a total value of $49,986.27. Following the acquisition, the chief financial officer now directly owns 21,316 shares in the company, valued at $298,210.84. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kenneth Duane Seipel bought 25,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was bought at an average price of $14.39 per share, for a total transaction of $359,750.00. Following the purchase, the chief executive officer now directly owns 282,139 shares of the company’s stock, valued at approximately $4,059,980.21. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 31,573 shares of company stock worth $455,336 in the last 90 days. Insiders own 3.80% of the company’s stock.

Institutional Trading of Citi Trends

Institutional investors and hedge funds have recently modified their holdings of the stock. Exchange Traded Concepts LLC acquired a new stake in Citi Trends in the 3rd quarter valued at about $1,723,000. Long Focus Capital Management LLC boosted its holdings in shares of Citi Trends by 24.9% during the 2nd quarter. Long Focus Capital Management LLC now owns 250,673 shares of the company’s stock worth $5,329,000 after purchasing an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Citi Trends by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company’s stock valued at $12,938,000 after purchasing an additional 37,107 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Citi Trends in the second quarter valued at approximately $584,000. Finally, Rhumbline Advisers lifted its position in Citi Trends by 41,964.0% during the second quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock worth $224,000 after buying an additional 10,491 shares in the last quarter.

Citi Trends Price Performance

Citi Trends stock opened at $18.85 on Friday. The stock has a market capitalization of $162.49 million, a PE ratio of -7.03 and a beta of 2.40. The business has a 50 day simple moving average of $17.61 and a 200-day simple moving average of $19.63. Citi Trends has a 12 month low of $13.65 and a 12 month high of $32.90.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings results on Tuesday, August 27th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.52) by ($1.42). The company had revenue of $176.55 million during the quarter. Citi Trends had a negative return on equity of 12.62% and a negative net margin of 2.92%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CTRN shares. DA Davidson decreased their target price on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Craig Hallum cut their price objective on shares of Citi Trends from $25.00 to $14.00 and set a “hold” rating for the company in a report on Wednesday, August 28th. Finally, StockNews.com downgraded shares of Citi Trends from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th.

Citi Trends Company Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company 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.