Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Buys $250,860.00 in Stock

Posted by Anthony Bellafiore on Apr 26th, 2024

Citi Trends, Inc. (NASDAQ:CTRN – Get Free Report) major shareholder Fund 1 Investments, Llc purchased 11,300 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was purchased at an average price of $22.20 per share, for a total transaction of $250,860.00. Following the acquisition, the insider now owns 1,889,467 shares in the company, valued at $41,946,167.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

On Wednesday, April 24th, Fund 1 Investments, Llc purchased 4,800 shares of Citi Trends stock. The stock was purchased at an average price of $22.07 per share, for a total transaction of $105,936.00.
On Monday, April 22nd, Fund 1 Investments, Llc purchased 23,495 shares of Citi Trends stock. The stock was purchased at an average price of $21.74 per share, for a total transaction of $510,781.30.
On Friday, April 19th, Fund 1 Investments, Llc purchased 13,000 shares of Citi Trends stock. The stock was purchased at an average price of $22.15 per share, for a total transaction 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 bought 5,136 shares of Citi Trends stock. The shares were bought at an average price of $22.41 per share, for a total transaction of $115,097.76.
On Friday, April 12th, Fund 1 Investments, Llc bought 17,000 shares of Citi Trends stock. The shares were bought at an average price of $22.74 per share, for a total transaction of $386,580.00.
On Wednesday, April 10th, Fund 1 Investments, Llc bought 20,282 shares of Citi Trends stock. The shares were bought at an average price of $23.12 per share, for a total transaction of $468,919.84.
On Monday, April 8th, Fund 1 Investments, Llc bought 6,000 shares of Citi Trends stock. The shares were bought at an average price of $24.35 per share, for a total transaction of $146,100.00.
On Thursday, April 4th, Fund 1 Investments, Llc bought 5,000 shares of Citi Trends stock. The shares were bought at an average price of $25.19 per share, for a total transaction of $125,950.00.
On Tuesday, April 2nd, Fund 1 Investments, Llc purchased 2,000 shares of Citi Trends stock. The shares were acquired at an average cost of $26.92 per share, for a total transaction of $53,840.00.

Citi Trends Price Performance

NASDAQ:CTRN traded up $0.74 during mid-day trading on Friday, reaching $22.52. The stock had a trading volume of 75,391 shares, compared to its average volume of 76,406. The company has a market capitalization of $192.32 million, a price-to-earnings ratio of -14.96 and a beta of 2.37. Citi Trends, Inc. has a 1-year low of $14.20 and a 1-year high of $32.90. The stock’s 50 day simple moving average is $27.27 and its two-hundred day simple moving average is $26.34.

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

Analyst Ratings Changes

A number of brokerages have weighed in on CTRN. Benchmark reissued a “buy” rating and set a $35.00 price target on shares of Citi Trends in a research note on Wednesday, March 20th. Craig Hallum reissued a “hold” rating and set a $27.00 price target (down previously from $28.00) on shares of Citi Trends in a research note on Tuesday, March 19th.

Check Out Our Latest Stock Analysis on Citi Trends

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CTRN. Jump Financial LLC purchased a new position in Citi Trends during the 4th quarter worth approximately $223,000. Hsbc Holdings PLC acquired a new position in shares of Citi Trends during the third quarter valued at about $229,000. Ancora Advisors LLC acquired a new position in shares of Citi Trends during the third quarter valued at about $280,000. Quadrature Capital Ltd increased its stake in Citi Trends by 71.7% in the third quarter. Quadrature Capital Ltd now owns 28,241 shares of the company’s stock valued at $628,000 after acquiring an additional 11,791 shares during the period. Finally, Citigroup Inc. increased its stake in Citi Trends by 60,229.1% in the third quarter. Citigroup Inc. now owns 33,181 shares of the company’s stock valued at $737,000 after acquiring an additional 33,126 shares during the period.

About Citi Trends

(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.