Insider Buying: Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Purchases $405,396.90 in Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc bought 18,090 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was purchased at an average cost of $22.41 per share, for a total transaction of $405,396.90. Following the completion of the purchase, the insider now owns 1,798,872 shares of the company’s stock, valued at $40,312,721.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 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 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, 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 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 acquired 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 acquired 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 purchased 5,000 shares of Citi Trends stock. The stock was bought at an average cost of $25.19 per share, with a total value of $125,950.00.
• On Tuesday, April 2nd, Fund 1 Investments, Llc purchased 2,000 shares of Citi Trends stock. The stock was bought at an average cost of $26.92 per share, with a total value of $53,840.00.
• On Thursday, March 28th, Fund 1 Investments, Llc purchased 16,000 shares of Citi Trends stock. The stock was bought at an average cost of $27.12 per share, with a total value of $433,920.00.
• On Wednesday, March 20th, Fund 1 Investments, Llc bought 14,500 shares of Citi Trends stock. The stock was acquired at an average cost of $28.69 per share, with a total value of $416,005.00.
• On Monday, March 18th, Fund 1 Investments, Llc bought 11,000 shares of Citi Trends stock. The stock was acquired at an average cost of $29.50 per share, with a total value of $324,500.00.
• On Monday, March 11th, Fund 1 Investments, Llc bought 15,000 shares of Citi Trends stock. The stock was acquired at an average cost of $30.33 per share, with a total value of $454,950.00.

Citi Trends Stock Up 0.4 %

NASDAQ CTRN opened at $22.28 on Friday. Citi Trends, Inc. has a 52 week low of $14.20 and a 52 week high of $32.90. The firm has a market capitalization of $190.36 million, a P/E ratio of -15.16 and a beta of 2.37. The company has a 50-day moving average price of $27.82 and a 200-day moving average price of $26.34.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.53 EPS for the quarter. The firm had revenue of $215.18 million during the quarter. Citi Trends had a negative net margin of 1.60% and a negative return on equity of 6.76%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CTRN. Vanguard Group Inc. raised its holdings in Citi Trends by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 426,834 shares of the company’s stock valued at $12,071,000 after buying an additional 1,500 shares during the period. Goldman Sachs Group Inc. raised its holdings in Citi Trends by 15.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 11,186 shares of the company’s stock valued at $316,000 after buying an additional 1,518 shares during the period. Barclays PLC raised its holdings in Citi Trends by 8.5% during the 4th quarter. Barclays PLC now owns 44,989 shares of the company’s stock valued at $1,272,000 after buying an additional 3,508 shares during the period. Fund 1 Investments LLC raised its holdings in Citi Trends by 55.6% during the 4th quarter. Fund 1 Investments LLC now owns 1,329,342 shares of the company’s stock valued at $37,594,000 after buying an additional 474,736 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in Citi Trends during the 4th quarter valued at $786,000.

Analysts Set New Price Targets

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

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.