Insider Selling: Citi Trends, Inc. (NASDAQ:CTRN) Director Sells 12,000 Shares of Stock

Citi Trends, Inc. (NASDAQ:CTRN) Director Jonathan Duskin sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $26.44, for a total value of $317,280.00. Following the transaction, the director now owns 33,396 shares in the company, valued at approximately $882,990.24. The trade was a 26.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Citi Trends Trading Up 1.4 %

Shares of CTRN stock traded up $0.37 during trading hours on Friday, reaching $26.85. The company’s stock had a trading volume of 53,210 shares, compared to its average volume of 121,482. Citi Trends, Inc. has a one year low of $13.65 and a one year high of $32.90. The stock has a market capitalization of $233.86 million, a P/E ratio of -8.75 and a beta of 2.36. The firm’s fifty day simple moving average is $21.27 and its 200 day simple moving average is $19.30.

Wall Street Analysts Forecast Growth

CTRN has been the subject of a number of analyst reports. DA Davidson raised their target price on shares of Citi Trends from $20.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Craig Hallum increased their price target on shares of Citi Trends from $14.00 to $20.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, StockNews.com cut shares of Citi Trends from a “hold” rating to a “sell” rating in a research report on Friday, December 6th.

Institutional Trading of Citi Trends

Several large investors have recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new position in Citi Trends in the 3rd quarter worth $40,000. Quantbot Technologies LP increased its position in shares of Citi Trends by 111.3% during the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after buying an additional 4,250 shares during the period. Jane Street Group LLC bought a new position in Citi Trends in the third quarter worth about $193,000. Deerfield Management Company L.P. Series C bought a new position in Citi Trends in the second quarter worth about $208,000. Finally, Rhumbline Advisers lifted its holdings in Citi Trends by 41,964.0% in 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 during the period.

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.