Insider Buying: Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Purchases 49,000 Shares of Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc acquired 49,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average cost of $21.58 per share, for a total transaction of $1,057,420.00. Following the acquisition, the insider now directly owns 2,309,296 shares in the company, valued at approximately $49,834,607.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major 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 Wednesday, June 12th, Fund 1 Investments, Llc purchased 6,000 shares of Citi Trends stock. The shares were acquired at an average price of $22.36 per share, for a total transaction 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 price of $22.59 per share, with a total value of $1,050,435.00.
• On Wednesday, June 5th, Fund 1 Investments, Llc bought 7,835 shares of Citi Trends stock. The shares were acquired at an average price of $24.02 per share, for a total transaction of $188,196.70.
• On Wednesday, May 22nd, Fund 1 Investments, Llc purchased 32,192 shares of Citi Trends stock. The shares were acquired at an average price of $22.21 per share, with a total value of $714,984.32.
• On Monday, May 20th, Fund 1 Investments, Llc bought 16,100 shares of Citi Trends stock. The stock was bought at an average cost of $23.23 per share, with a total value of $374,003.00.
• On Friday, May 17th, Fund 1 Investments, Llc purchased 6,000 shares of Citi Trends stock. The stock was bought at an average cost of $23.07 per share, for a total transaction of $138,420.00.
• On Wednesday, May 15th, Fund 1 Investments, Llc acquired 15,785 shares of Citi Trends stock. The shares were bought at an average price of $24.07 per share, with a total value of $379,944.95.
• On Monday, May 13th, Fund 1 Investments, Llc bought 5,481 shares of Citi Trends stock. The stock was purchased at an average price of $23.48 per share, for a total transaction of $128,693.88.
• On Monday, May 6th, Fund 1 Investments, Llc bought 6,330 shares of Citi Trends stock. The shares were purchased at an average price of $22.76 per share, with a total value of $144,070.80.
• On Friday, May 3rd, Fund 1 Investments, Llc purchased 5,000 shares of Citi Trends stock. The stock was purchased at an average price of $22.07 per share, for a total transaction of $110,350.00.

Citi Trends Trading Down 2.2 %

Shares of CTRN stock opened at $21.54 on Monday. Citi Trends, Inc. has a 1 year low of $16.19 and a 1 year high of $32.90. The firm’s 50 day moving average is $22.88 and its 200-day moving average is $26.05. The firm has a market capitalization of $185.24 million, a price-to-earnings ratio of -19.94 and a beta of 2.38.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, March 19th. The company reported $0.53 EPS for the quarter. The firm had revenue of $215.18 million for the quarter. Citi Trends had a negative return on equity of 4.98% and a negative net margin of 1.16%.

Wall Street Analyst Weigh In

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

Institutional Trading of Citi Trends

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fund 1 Investments LLC grew its position in shares of Citi Trends by 55.6% during the 4th quarter. Fund 1 Investments LLC now owns 1,329,342 shares of the company’s stock worth $37,594,000 after buying an additional 474,736 shares during the period. Jennison Associates LLC grew its holdings in Citi Trends by 10.6% during the 4th quarter. Jennison Associates LLC now owns 416,029 shares of the company’s stock worth $11,765,000 after acquiring an additional 39,751 shares during the period. AWM Investment Company Inc. raised its position in shares of Citi Trends by 3.4% during the 3rd quarter. AWM Investment Company Inc. now owns 265,768 shares of the company’s stock valued at $5,905,000 after acquiring an additional 8,660 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Citi Trends by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 197,815 shares of the company’s stock valued at $5,594,000 after purchasing an additional 4,779 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Citi Trends by 89.5% during the first quarter. Assenagon Asset Management S.A. now owns 118,772 shares of the company’s stock worth $3,222,000 after purchasing an additional 56,087 shares during the period.

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.