Citi Trends (NASDAQ:CTRN) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Citi Trends, Inc. (NASDAQ:CTRN)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.33 and traded as high as $25.27. Citi Trends shares last traded at $24.11, with a volume of 71,125 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. DA Davidson lifted their target price on Citi Trends from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Craig Hallum upgraded Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Monday, February 10th. Finally, StockNews.com upgraded Citi Trends from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th.

Citi Trends Price Performance

The company has a market capitalization of $210.00 million, a P/E ratio of -7.85 and a beta of 2.27. The company has a fifty day moving average price of $26.26 and a two-hundred day moving average price of $21.33.

Citi Trends (NASDAQ:CTRN) last issued its earnings results on Tuesday, December 3rd. The company reported ($0.78) earnings per share for the quarter. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%.

Insider Transactions at Citi Trends

In related news, Director Jonathan Duskin sold 12,000 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $26.44, for a total transaction of $317,280.00. Following the completion of the sale, the director now owns 33,396 shares in the company, valued at approximately $882,990.24. This represents a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Citi Trends

Several institutional investors have recently bought and sold shares of CTRN. Shay Capital LLC grew its stake in Citi Trends by 40.1% in the 4th quarter. Shay Capital LLC now owns 360,000 shares of the company’s stock valued at $9,450,000 after purchasing an additional 102,958 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Citi Trends by 0.7% during the 4th quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company’s stock valued at $5,221,000 after buying an additional 1,400 shares during the last quarter. Royce & Associates LP lifted its position in shares of Citi Trends by 5.4% during the 3rd quarter. Royce & Associates LP now owns 196,110 shares of the company’s stock valued at $3,603,000 after buying an additional 10,000 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Citi Trends by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 166,558 shares of the company’s stock valued at $4,373,000 after buying an additional 3,086 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Citi Trends by 5,400.6% during the 4th quarter. JPMorgan Chase & Co. now owns 152,422 shares of the company’s stock valued at $4,001,000 after buying an additional 149,651 shares during the last quarter.

About Citi Trends

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.