Insider Buying: Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Purchases 23,495 Shares of Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc acquired 23,495 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were purchased at an average cost of $21.74 per share, with a total value of $510,781.30. Following the acquisition, the insider now owns 1,835,367 shares of the company’s stock, valued at approximately $39,900,878.58. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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 Friday, April 19th, Fund 1 Investments, Llc acquired 13,000 shares of Citi Trends stock. The shares were purchased at an average cost of $22.15 per share, with a total value of $287,950.00.
• On Wednesday, April 17th, Fund 1 Investments, Llc purchased 18,090 shares of Citi Trends stock. The shares were bought at an average cost of $22.41 per share, for a total transaction of $405,396.90.
• On Monday, April 15th, Fund 1 Investments, Llc purchased 5,136 shares of Citi Trends stock. The shares were bought 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 shares were bought at an average cost of $22.74 per share, for a total transaction of $386,580.00.
• On Wednesday, April 10th, Fund 1 Investments, Llc purchased 20,282 shares of Citi Trends stock. The shares were bought at an average cost of $23.12 per share, for a total transaction of $468,919.84.
• On Monday, April 8th, Fund 1 Investments, Llc purchased 6,000 shares of Citi Trends stock. The shares were bought at an average cost 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 shares were bought at an average cost 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 bought at an average cost of $26.92 per share, for a total transaction of $53,840.00.
• On Thursday, March 28th, Fund 1 Investments, Llc purchased 16,000 shares of Citi Trends stock. The shares were bought at an average cost of $27.12 per share, for a total transaction of $433,920.00.
• On Wednesday, March 20th, Fund 1 Investments, Llc purchased 14,500 shares of Citi Trends stock. The shares were bought at an average cost of $28.69 per share, for a total transaction of $416,005.00.

Citi Trends Stock Performance

Shares of CTRN stock opened at $22.23 on Wednesday. Citi Trends, Inc. has a 52-week low of $14.20 and a 52-week high of $32.90. The stock has a market cap of $189.78 million, a PE ratio of -15.12 and a beta of 2.37. The firm’s 50 day moving average price is $27.67 and its two-hundred day moving average price is $26.41.

Citi Trends (NASDAQ:CTRN) last announced 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 net margin of 1.60% and a negative return on equity of 6.74%.

Hedge Funds Weigh In On Citi Trends

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Fund 1 Investments LLC boosted its position in shares of Citi Trends by 55.6% during the fourth quarter. Fund 1 Investments LLC now owns 1,329,342 shares of the company’s stock worth $37,594,000 after purchasing an additional 474,736 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Citi Trends by 22.1% during the fourth quarter. Franklin Resources Inc. now owns 50,197 shares of the company’s stock worth $1,420,000 after purchasing an additional 9,074 shares in the last quarter. Jump Financial LLC bought a new position in shares of Citi Trends during the fourth quarter worth $223,000. Charles Schwab Investment Management Inc. boosted its position in shares of Citi Trends by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 197,815 shares of the company’s stock worth $5,594,000 after purchasing an additional 4,779 shares in the last quarter. Finally, Anchor Capital Advisors LLC raised its holdings in shares of Citi Trends by 44.8% during the fourth quarter. Anchor Capital Advisors LLC now owns 46,626 shares of the company’s stock worth $1,319,000 after acquiring an additional 14,421 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Craig Hallum reaffirmed a “hold” rating and issued a $27.00 price objective (down from $28.00) on shares of Citi Trends in a research note on Tuesday, March 19th. Benchmark reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Citi Trends in a research note on Wednesday, March 20th.

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.