Citi Trends, Inc. (NASDAQ:CTRN) Short Interest Update

Citi Trends, Inc. (NASDAQ:CTRN) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 471,900 shares, an increase of 6.5% from the September 30th total of 443,000 shares. Based on an average daily trading volume, of 85,200 shares, the days-to-cover ratio is currently 5.5 days. Currently, 4.1% of the shares of the stock are short sold.

Separately, ValuEngine raised shares of Citi Trends from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th.

Shares of CTRN stock traded up $0.03 on Friday, reaching $18.80. The company’s stock had a trading volume of 53,300 shares, compared to its average volume of 59,144. The company has a current ratio of 1.53, a quick ratio of 0.59 and a debt-to-equity ratio of 0.63. The stock’s fifty day simple moving average is $18.24 and its 200-day simple moving average is $16.63. The company has a market capitalization of $223.62 million, a price-to-earnings ratio of 11.46 and a beta of 0.54. Citi Trends has a 1 year low of $13.41 and a 1 year high of $25.36.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.03 earnings per share for the quarter. The firm had revenue of $182.83 million during the quarter. Citi Trends had a return on equity of 8.35% and a net margin of 1.96%. Equities research analysts forecast that Citi Trends will post 1.4 earnings per share for the current year.

In related news, Director Peter R. Sachse acquired 9,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was acquired at an average cost of $16.84 per share, with a total value of $151,560.00. Following the acquisition, the director now directly owns 13,390 shares in the company, valued at approximately $225,487.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 7.19% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new position in Citi Trends in the third quarter valued at about $109,000. Meeder Asset Management Inc. grew its stake in Citi Trends by 1,637.7% in the third quarter. Meeder Asset Management Inc. now owns 8,619 shares of the company’s stock valued at $157,000 after purchasing an additional 8,123 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Citi Trends in the second quarter valued at about $213,000. Rhumbline Advisers grew its stake in Citi Trends by 7.7% in the third quarter. Rhumbline Advisers now owns 19,333 shares of the company’s stock valued at $354,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Stone Ridge Asset Management LLC grew its stake in Citi Trends by 23.2% in the second quarter. Stone Ridge Asset Management LLC now owns 22,664 shares of the company’s stock valued at $331,000 after purchasing an additional 4,263 shares during the last quarter. Hedge funds and other institutional investors own 89.20% of the company’s stock.

Citi Trends Company Profile

Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, such as fashion sportswear for men and women, as well as children, including newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional bedroom, bathroom, and kitchen products, as well as beauty products and toys.

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