Insider Buying: Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Buys 5,000 Shares of Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc bought 5,000 shares of the stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $22.07 per share, with a total value of $110,350.00. Following the purchase, the insider now owns 1,986,067 shares of the company’s stock, valued at $43,832,498.69. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 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 Monday, May 6th, Fund 1 Investments, Llc acquired 6,330 shares of Citi Trends stock. The stock was bought at an average price of $22.76 per share, for a total transaction of $144,070.80.
• 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 shares were purchased 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 acquired 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 bought 23,495 shares of Citi Trends stock. The stock was purchased at an average cost of $21.74 per share, with a total value of $510,781.30.
• On Friday, April 19th, Fund 1 Investments, Llc purchased 13,000 shares of Citi Trends stock. The shares were acquired at an average cost of $22.15 per share, for a total transaction of $287,950.00.
• On Wednesday, April 17th, Fund 1 Investments, Llc acquired 18,090 shares of Citi Trends stock. The stock was acquired at an average price of $22.41 per share, with a total value of $405,396.90.
• On Monday, April 15th, Fund 1 Investments, Llc bought 5,136 shares of Citi Trends stock. The shares were acquired at an average cost of $22.41 per share, for a total transaction of $115,097.76.
• On Friday, April 12th, Fund 1 Investments, Llc purchased 17,000 shares of Citi Trends stock. The stock was acquired at an average cost of $22.74 per share, with a total value of $386,580.00.

Citi Trends Stock Performance

Shares of NASDAQ:CTRN traded up $0.38 during trading hours on Tuesday, reaching $23.19. The stock had a trading volume of 77,790 shares, compared to its average volume of 77,771. Citi Trends, Inc. has a 1 year low of $14.20 and a 1 year high of $32.90. The firm’s 50 day moving average is $26.36 and its 200-day moving average is $26.29. The stock has a market capitalization of $198.04 million, a price-to-earnings ratio of -15.78 and a beta of 2.43.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $35.00 price objective on shares of Citi Trends in a research report on Wednesday, March 20th. Craig Hallum restated a “hold” rating and set a $27.00 price target (down previously from $28.00) on shares of Citi Trends in a report on Tuesday, March 19th.

Institutional Investors Weigh In On Citi Trends

Several hedge funds and other institutional investors have recently made changes to their positions in CTRN. Jennison Associates LLC raised its stake in Citi Trends by 47.5% during the 3rd quarter. Jennison Associates LLC now owns 376,278 shares of the company’s stock worth $8,361,000 after acquiring an additional 121,134 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Citi Trends during the third quarter worth about $1,617,000. Barclays PLC increased its position in shares of Citi Trends by 4,172.0% during the third quarter. Barclays PLC now owns 41,481 shares of the company’s stock worth $921,000 after purchasing an additional 40,510 shares in the last quarter. First Eagle Investment Management LLC purchased a new stake in shares of Citi Trends in the 3rd quarter valued at about $2,254,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Citi Trends by 13.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 193,036 shares of the company’s stock valued at $4,289,000 after purchasing an additional 22,311 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.