Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Purchases $110,350.00 in Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $22.07 per share, for a total transaction of $110,350.00. Following the acquisition, the insider now owns 1,986,067 shares in the company, valued at $43,832,498.69. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, May 6th, Fund 1 Investments, Llc acquired 6,330 shares of Citi Trends stock. The stock was bought at an average cost of $22.76 per share, with a total value of $144,070.80.
• On Wednesday, May 1st, Fund 1 Investments, Llc purchased 30,000 shares of Citi Trends stock. The shares were purchased at an average cost of $21.47 per share, with a total value of $644,100.00.
• On Monday, April 29th, Fund 1 Investments, Llc bought 10,800 shares of Citi Trends stock. The shares were acquired at an average cost of $21.79 per share, with a total value of $235,332.00.
• On Friday, April 26th, Fund 1 Investments, Llc acquired 11,300 shares of Citi Trends stock. The shares were bought 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 acquired 4,800 shares of Citi Trends stock. The shares were purchased at an average cost of $22.07 per share, with a total value of $105,936.00.
• On Monday, April 22nd, Fund 1 Investments, Llc purchased 23,495 shares of Citi Trends stock. The shares were acquired 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 bought 13,000 shares of Citi Trends stock. The shares were bought at an average cost of $22.15 per share, with a total value of $287,950.00.
• On Wednesday, April 17th, Fund 1 Investments, Llc purchased 18,090 shares of Citi Trends stock. The stock was bought 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 stock was purchased at an average cost of $22.41 per share, with a total value of $115,097.76.
• On Friday, April 12th, Fund 1 Investments, Llc acquired 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.

Citi Trends Stock Performance

Shares of Citi Trends stock traded up $0.38 on Tuesday, reaching $23.19. The stock had a trading volume of 77,790 shares, compared to its average volume of 77,771. Citi Trends, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $32.90. The business’s 50-day moving average price is $26.36 and its two-hundred day moving average price is $26.29. The stock has a market cap of $198.04 million, a P/E ratio of -15.78 and a beta of 2.43.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CTRN. Benchmark restated a “buy” rating and set a $35.00 price target on shares of Citi Trends in a research note on Wednesday, March 20th. Craig Hallum reissued a “hold” rating and set a $27.00 target price (down from $28.00) on shares of Citi Trends in a research report on Tuesday, March 19th.

Institutional Trading of Citi Trends

Several hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new position in Citi Trends in the 3rd quarter worth approximately $1,089,000. Citigroup Inc. grew its stake in shares of Citi Trends by 60,229.1% in 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 during the last quarter. Jennison Associates LLC increased 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 worth $8,361,000 after acquiring an additional 121,134 shares during the period. Assenagon Asset Management S.A. acquired a new position in Citi Trends during the 3rd quarter valued at $1,617,000. Finally, Hsbc Holdings PLC bought a new stake in Citi Trends in the 3rd quarter valued at $229,000.

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.