Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Acquires $510,781.30 in Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc bought 23,495 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was bought at an average cost of $21.74 per share, for a total transaction of $510,781.30. Following the transaction, the insider now owns 1,835,367 shares of the company’s stock, valued at approximately $39,900,878.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 purchased 5,136 shares of Citi Trends stock. The shares were acquired 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 purchased 17,000 shares of Citi Trends stock. The shares were acquired at an average cost of $22.74 per share, for a total transaction 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 cost of $23.12 per share, for a total transaction of $468,919.84.
• On Monday, April 8th, Fund 1 Investments, Llc bought 6,000 shares of Citi Trends stock. The stock was purchased at an average cost of $24.35 per share, for a total transaction of $146,100.00.
• On Thursday, April 4th, Fund 1 Investments, Llc bought 5,000 shares of Citi Trends stock. The stock was purchased at an average cost of $25.19 per share, for a total transaction of $125,950.00.
• On Tuesday, April 2nd, Fund 1 Investments, Llc purchased 2,000 shares of Citi Trends stock. The stock was bought at an average price of $26.92 per share, with a total value of $53,840.00.
• On Thursday, March 28th, Fund 1 Investments, Llc purchased 16,000 shares of Citi Trends stock. The stock was bought at an average price of $27.12 per share, with a total value of $433,920.00.
• On Wednesday, March 20th, Fund 1 Investments, Llc purchased 14,500 shares of Citi Trends stock. The stock was bought at an average price of $28.69 per share, with a total value of $416,005.00.

Citi Trends Stock Performance

Shares of NASDAQ:CTRN opened at $21.78 on Friday. The company has a fifty day moving average of $27.40 and a 200-day moving average of $26.37. The company has a market capitalization of $186.00 million, a PE ratio of -15.01 and a beta of 2.37. Citi Trends, Inc. has a 52-week low of $14.20 and a 52-week high of $32.90.

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

Institutional Trading of Citi Trends

A number of institutional investors and hedge funds have recently bought and sold shares of CTRN. Jump Financial LLC acquired a new stake in Citi Trends in the fourth quarter valued at $223,000. Hsbc Holdings PLC acquired a new stake in Citi Trends in the third quarter valued at $229,000. Ancora Advisors LLC acquired a new stake in Citi Trends in the third quarter valued at $280,000. Quadrature Capital Ltd increased its holdings in Citi Trends by 71.7% in the third quarter. Quadrature Capital Ltd now owns 28,241 shares of the company’s stock valued at $628,000 after purchasing an additional 11,791 shares during the period. Finally, Citigroup Inc. increased its holdings in Citi Trends by 60,229.1% in the third quarter. Citigroup Inc. now owns 33,181 shares of the company’s stock valued at $737,000 after purchasing an additional 33,126 shares during the period.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CTRN shares. Benchmark reiterated a “buy” rating and issued a $35.00 price target on shares of Citi Trends in a research note on Wednesday, March 20th. Craig Hallum restated a “hold” rating and set a $27.00 target price (down 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.