Citi Trends (NASDAQ:CTRN) Upgraded at StockNews.com

StockNews.com upgraded shares of Citi Trends (NASDAQ:CTRN) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

Other equities analysts also recently issued research reports about the company. DA Davidson lifted their price objective on Citi Trends from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Craig Hallum increased their price objective on shares of Citi Trends from $14.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th.

Citi Trends Stock Performance

Shares of CTRN opened at $26.39 on Monday. Citi Trends has a 52 week low of $13.65 and a 52 week high of $32.90. The firm has a market capitalization of $229.86 million, a P/E ratio of -8.60 and a beta of 2.27. The company has a 50-day simple moving average of $24.91 and a 200-day simple moving average of $20.25.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, December 3rd. The company reported ($0.78) EPS for the quarter. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%.

Insider Buying and Selling at Citi Trends

In related news, Director Jonathan Duskin sold 12,000 shares of Citi Trends stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $26.44, for a total transaction of $317,280.00. Following the transaction, the director now owns 33,396 shares of the company’s stock, valued at $882,990.24. This trade represents a 26.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Citi Trends

Several institutional investors and hedge funds have recently made changes to their positions in CTRN. Exchange Traded Concepts LLC increased its holdings in shares of Citi Trends by 7.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 100,523 shares of the company’s stock worth $2,639,000 after acquiring an additional 6,702 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Citi Trends by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company’s stock valued at $12,938,000 after purchasing an additional 37,107 shares during the period. Jane Street Group LLC bought a new stake in Citi Trends during the 3rd quarter worth approximately $193,000. Barclays PLC raised its holdings in Citi Trends by 19.9% during the 3rd quarter. Barclays PLC now owns 25,953 shares of the company’s stock worth $478,000 after buying an additional 4,300 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Citi Trends in the second quarter valued at approximately $584,000.

About Citi Trends

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company 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.