Insider Buying: Citi Trends, Inc. (NASDAQ:CTRN) Director Purchases $21,885.00 in Stock

Citi Trends, Inc. (NASDAQ:CTRN) Director David A. Heath purchased 1,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average cost of $14.59 per share, for a total transaction of $21,885.00. Following the acquisition, the director now owns 5,511 shares of the company’s stock, valued at approximately $80,405.49. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Citi Trends Trading Up 2.6 %

CTRN stock opened at $16.29 on Friday. The firm has a market cap of $140.09 million, a PE ratio of -15.50 and a beta of 2.39. Citi Trends, Inc. has a 1 year low of $13.65 and a 1 year high of $32.90. The company has a fifty day simple moving average of $16.93 and a 200 day simple moving average of $21.93.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Tuesday, August 27th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($1.42). Citi Trends had a negative return on equity of 12.25% and a negative net margin of 2.92%. The company had revenue of $176.55 million for the quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CTRN shares. DA Davidson dropped their target price on Citi Trends from $33.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. Craig Hallum dropped their price target on Citi Trends from $25.00 to $14.00 and set a “hold” rating on the stock in a research report on Wednesday, August 28th. StockNews.com downgraded shares of Citi Trends from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Finally, Benchmark restated a “buy” rating and issued a $35.00 target price on shares of Citi Trends in a research note on Wednesday, June 5th.

Hedge Funds Weigh In On Citi Trends

A number of institutional investors have recently modified their holdings of CTRN. SG Americas Securities LLC acquired a new position in shares of Citi Trends during the 1st quarter worth about $139,000. Jump Financial LLC acquired a new stake in shares of Citi Trends in the fourth quarter worth $223,000. Deerfield Management Company L.P. Series C bought a new position in Citi Trends during the second quarter worth $208,000. Rhumbline Advisers raised its stake in Citi Trends by 41,964.0% during the 2nd quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock valued at $224,000 after purchasing an additional 10,491 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Citi Trends by 8.0% in the 1st quarter. Empowered Funds LLC now owns 21,257 shares of the company’s stock valued at $577,000 after purchasing an additional 1,575 shares during the period.

Citi Trends Company Profile

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.