Insider Buying: Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Acquires 1,000 Shares of Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was bought at an average cost of $21.52 per share, for a total transaction of $21,520.00. Following the completion of the purchase, the insider now directly owns 2,481,486 shares in the company, valued at $53,401,578.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Friday, June 28th, Fund 1 Investments, Llc purchased 54,000 shares of Citi Trends stock. The shares were purchased at an average price of $21.39 per share, for a total transaction of $1,155,060.00.
• On Monday, June 24th, Fund 1 Investments, Llc bought 21,000 shares of Citi Trends stock. The stock was bought at an average cost of $21.21 per share, for a total transaction of $445,410.00.
• On Friday, June 21st, Fund 1 Investments, Llc purchased 52,000 shares of Citi Trends stock. The stock was acquired at an average price of $21.39 per share, with a total value of $1,112,280.00.
• On Friday, June 14th, Fund 1 Investments, Llc acquired 49,000 shares of Citi Trends stock. The shares were purchased at an average price of $21.58 per share, with a total value of $1,057,420.00.
• On Wednesday, June 12th, Fund 1 Investments, Llc purchased 6,000 shares of Citi Trends stock. The stock was bought at an average price of $22.36 per share, with a total value of $134,160.00.
• On Friday, June 7th, Fund 1 Investments, Llc acquired 46,500 shares of Citi Trends stock. The stock was acquired at an average cost of $22.59 per share, with a total value of $1,050,435.00.
• On Wednesday, June 5th, Fund 1 Investments, Llc purchased 7,835 shares of Citi Trends stock. The shares were purchased at an average cost of $24.02 per share, with a total value of $188,196.70.
• On Wednesday, May 22nd, Fund 1 Investments, Llc acquired 32,192 shares of Citi Trends stock. The stock was bought at an average cost of $22.21 per share, with a total value of $714,984.32.
• On Monday, May 20th, Fund 1 Investments, Llc purchased 16,100 shares of Citi Trends stock. The stock was acquired at an average price of $23.23 per share, for a total transaction of $374,003.00.
• On Friday, May 17th, Fund 1 Investments, Llc bought 6,000 shares of Citi Trends stock. The shares were bought at an average cost of $23.07 per share, for a total transaction of $138,420.00.

Citi Trends Stock Performance

Shares of Citi Trends stock traded down $0.47 during trading hours on Friday, hitting $21.26. The company’s stock had a trading volume of 1,455,866 shares, compared to its average volume of 104,414. The stock has a market cap of $182.84 million, a price-to-earnings ratio of -19.69 and a beta of 2.38. Citi Trends, Inc. has a twelve month low of $16.19 and a twelve month high of $32.90. The firm has a fifty day moving average of $22.62 and a 200-day moving average of $25.89.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Benchmark reiterated a “buy” rating and issued a $35.00 target price on shares of Citi Trends in a research report on Wednesday, June 5th. Craig Hallum cut their price target on Citi Trends from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Wednesday, June 5th.

Institutional Investors Weigh In On Citi Trends

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Citi Trends during the 1st quarter worth about $139,000. Jump Financial LLC purchased a new position in Citi Trends during the 4th quarter worth approximately $223,000. Hsbc Holdings PLC purchased a new position in Citi Trends during the 3rd quarter worth approximately $229,000. Ancora Advisors LLC purchased a new position in Citi Trends during the 3rd quarter worth approximately $280,000. Finally, Empowered Funds LLC grew its stake in Citi Trends by 8.0% during the 1st quarter. Empowered Funds LLC now owns 21,257 shares of the company’s stock worth $577,000 after buying an additional 1,575 shares during the last quarter.

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.