Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Acquires $235,332.00 in Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc acquired 10,800 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were bought at an average cost of $21.79 per share, for a total transaction of $235,332.00. Following the completion of the transaction, the insider now directly owns 1,900,267 shares of the company’s stock, valued at approximately $41,406,817.93. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Fund 1 Investments, Llc also recently made the following trade(s):

• On Wednesday, May 1st, Fund 1 Investments, Llc bought 30,000 shares of Citi Trends stock. The stock was acquired at an average price of $21.47 per share, with a total value of $644,100.00.
• On Friday, April 26th, Fund 1 Investments, Llc acquired 11,300 shares of Citi Trends stock. The shares were acquired at an average cost of $22.20 per share, with a total value of $250,860.00.
• On Wednesday, April 24th, Fund 1 Investments, Llc purchased 4,800 shares of Citi Trends stock. The shares were purchased 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 acquired 23,495 shares of Citi Trends stock. The shares were purchased 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 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 bought 18,090 shares of Citi Trends stock. The shares were acquired at an average price 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 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 price of $22.74 per share, with a total value of $386,580.00.
• On Wednesday, April 10th, Fund 1 Investments, Llc bought 20,282 shares of Citi Trends stock. The stock was purchased at an average price of $23.12 per share, for a total transaction of $468,919.84.
• On Monday, April 8th, Fund 1 Investments, Llc purchased 6,000 shares of Citi Trends stock. The shares were purchased at an average cost of $24.35 per share, with a total value of $146,100.00.

Citi Trends Trading Up 0.1 %

NASDAQ:CTRN opened at $21.46 on Thursday. The stock has a market cap of $183.27 million, a price-to-earnings ratio of -14.60 and a beta of 2.37. The stock has a 50-day moving average price of $26.70 and a two-hundred day moving average price of $26.32. Citi Trends, Inc. has a 1 year low of $14.20 and a 1 year high of $32.90.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in shares of Citi Trends during the 3rd quarter worth about $1,089,000. Citigroup Inc. raised its holdings 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 acquiring an additional 33,126 shares in the last quarter. Jennison Associates LLC boosted its position in Citi Trends by 47.5% during the third quarter. Jennison Associates LLC now owns 376,278 shares of the company’s stock valued at $8,361,000 after purchasing an additional 121,134 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Citi Trends in the third quarter valued at approximately $1,617,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Citi Trends during the 3rd quarter worth approximately $229,000.

Analyst Ratings Changes

CTRN has been the subject of a number of research reports. Benchmark restated a “buy” rating and issued a $35.00 target price on shares of Citi Trends in a research note on Wednesday, March 20th. Craig Hallum reiterated a “hold” rating and issued a $27.00 price objective (down from $28.00) on shares of Citi Trends in a research report on Tuesday, March 19th.

Citi Trends Company Profile

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.