Insider Selling: Citi Trends (NASDAQ:CTRN) EVP Sells $701,000.00 in Stock

Citi Trends, Inc. (NASDAQ:CTRN) EVP Lisa Powell sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $70.10, for a total transaction of $701,000.00. Following the completion of the sale, the executive vice president directly owned 13,970 shares in the company, valued at $979,297. This represents a 41.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Citi Trends Stock Performance

Citi Trends stock traded down $0.66 during mid-day trading on Tuesday, hitting $70.50. 130,076 shares of the company traded hands, compared to its average volume of 132,062. Citi Trends, Inc. has a one year low of $29.60 and a one year high of $77.91. The stock has a market cap of $587.26 million, a price-to-earnings ratio of 85.98 and a beta of 1.82. The stock has a fifty day moving average price of $66.64 and a 200-day moving average price of $54.09.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings results on Tuesday, August 25th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.37. The firm had revenue of $211.63 million for the quarter, compared to analyst estimates of $211.60 million. Citi Trends had a net margin of 0.84% and a return on equity of 8.25%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. DA Davidson set a $81.00 price target on Citi Trends in a research report on Wednesday, August 26th. Wall Street Zen upgraded Citi Trends from a “hold” rating to a “buy” rating in a report on Monday, June 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Citi Trends in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC raised its holdings in Citi Trends by 2.4% during the 2nd quarter. Hsbc Holdings PLC now owns 14,521 shares of the company’s stock valued at $828,000 after buying an additional 336 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Citi Trends by 5.8% in the second quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock worth $208,000 after purchasing an additional 342 shares during the last quarter. State of Wyoming increased its holdings in Citi Trends by 7.0% during the 2nd quarter. State of Wyoming now owns 7,160 shares of the company’s stock valued at $239,000 after purchasing an additional 469 shares during the period. Strs Ohio raised its position in Citi Trends by 7.1% during the 1st quarter. Strs Ohio now owns 7,500 shares of the company’s stock valued at $325,000 after purchasing an additional 500 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in Citi Trends in the 2nd quarter worth approximately $30,000.

Citi Trends Company Profile

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.