Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Acquires $144,070.80 in Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc bought 6,330 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average price of $22.76 per share, for a total transaction of $144,070.80. Following the transaction, the insider now owns 1,992,397 shares of the company’s stock, valued at approximately $45,346,955.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% 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, May 3rd, Fund 1 Investments, Llc acquired 5,000 shares of Citi Trends stock. The stock was acquired at an average cost of $22.07 per share, with a total value of $110,350.00.
• On Wednesday, May 1st, Fund 1 Investments, Llc bought 30,000 shares of Citi Trends stock. The stock was bought at an average price of $21.47 per share, with a total value of $644,100.00.
• On Monday, April 29th, Fund 1 Investments, Llc purchased 10,800 shares of Citi Trends stock. The stock was bought at an average price of $21.79 per share, for a total transaction of $235,332.00.
• On Friday, April 26th, Fund 1 Investments, Llc purchased 11,300 shares of Citi Trends stock. The shares were purchased at an average price of $22.20 per share, with a total value of $250,860.00.
• On Wednesday, April 24th, Fund 1 Investments, Llc purchased 4,800 shares of Citi Trends stock. The shares were acquired 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 acquired 23,495 shares of Citi Trends stock. The stock was bought 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 stock was 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 bought 18,090 shares of Citi Trends stock. The shares were bought at an average price 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 bought at an average price 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 purchased at an average price of $22.74 per share, for a total transaction of $386,580.00.

Citi Trends Stock Performance

Shares of CTRN traded up $0.38 during trading on Tuesday, reaching $23.19. The company’s stock had a trading volume of 77,790 shares, compared to its average volume of 77,771. The company has a fifty day moving average of $26.36 and a two-hundred day moving average of $26.29. Citi Trends, Inc. has a twelve month low of $14.20 and a twelve month high of $32.90.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Citi Trends

Large investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in Citi Trends during the third quarter valued at approximately $1,089,000. Citigroup Inc. raised its position 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 acquiring an additional 33,126 shares in the last quarter. Jennison Associates LLC lifted its stake 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 purchasing an additional 121,134 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Citi Trends in the third quarter worth $1,617,000. Finally, Hsbc Holdings PLC bought a new stake in Citi Trends during the third 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.