Insider Buying: Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Buys $21,520.00 in Stock

Posted by Michael Baxter on Jul 1st, 2024

Citi Trends, Inc. (NASDAQ:CTRN – Get Free Report) major shareholder Fund 1 Investments, Llc acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was bought at an average price of $21.52 per share, with a total value of $21,520.00. Following the completion of the acquisition, the insider now directly owns 2,481,486 shares in the company, valued at approximately $53,401,578.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

On Friday, June 28th, Fund 1 Investments, Llc acquired 54,000 shares of Citi Trends stock. The shares were purchased at an average cost 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 purchased at an average cost of $21.21 per share, with a total value of $445,410.00.
On Friday, June 21st, Fund 1 Investments, Llc purchased 52,000 shares of Citi Trends stock. The stock was purchased at an average cost of $21.39 per share, for a total transaction of $1,112,280.00.
On Friday, June 14th, Fund 1 Investments, Llc bought 49,000 shares of Citi Trends stock. The shares were acquired at an average price of $21.58 per share, for a total transaction of $1,057,420.00.
On Wednesday, June 12th, Fund 1 Investments, Llc purchased 6,000 shares of Citi Trends stock. The stock was acquired 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 bought 46,500 shares of Citi Trends stock. The shares were 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 acquired 7,835 shares of Citi Trends stock. The shares were bought at an average price of $24.02 per share, with a total value of $188,196.70.
On Wednesday, May 22nd, Fund 1 Investments, Llc purchased 32,192 shares of Citi Trends stock. The shares were bought 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 purchased 16,100 shares of Citi Trends stock. The stock was purchased 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 acquired 6,000 shares of Citi Trends stock. The shares were purchased at an average price of $23.07 per share, with a total value of $138,420.00.

Citi Trends Stock Performance

CTRN opened at $21.26 on Monday. The company’s 50-day simple moving average is $22.60 and its two-hundred day simple moving average is $25.89. The stock has a market capitalization of $182.84 million, a P/E ratio of -19.69 and a beta of 2.38. Citi Trends, Inc. has a 52-week low of $16.19 and a 52-week high of $32.90.

Citi Trends (NASDAQ:CTRN – Get Free Report) last released its quarterly earnings data on Tuesday, June 4th. The company reported ($0.32) earnings per share for the quarter. Citi Trends had a negative net margin of 1.16% and a negative return on equity of 4.99%. The company had revenue of $186.29 million for the quarter.

Analysts Set New Price Targets

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

Check Out Our Latest Research Report on Citi Trends

Hedge Funds Weigh In On Citi Trends

Several hedge funds and other institutional investors have recently modified their holdings of CTRN. Charles Schwab Investment Management Inc. increased its position in Citi Trends by 13.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 193,036 shares of the company’s stock valued at $4,289,000 after acquiring an additional 22,311 shares during the last quarter. Citigroup Inc. grew its stake in shares of Citi Trends by 60,229.1% during the 3rd 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. Hsbc Holdings PLC purchased a new stake in shares of Citi Trends during the 3rd quarter valued at about $229,000. Acadian Asset Management LLC bought a new position in shares of Citi Trends in the 3rd quarter worth approximately $1,089,000. Finally, Ancora Advisors LLC bought a new position in shares of Citi Trends in the 3rd quarter worth approximately $280,000.

Citi Trends Company Profile

(Get Free Report)

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.