Insider Buying: Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Purchases 6,330 Shares of Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc bought 6,330 shares of Citi Trends stock in a transaction on Monday, May 6th. The shares were acquired at an average cost of $22.76 per share, with a total value of $144,070.80. Following the completion of the acquisition, the insider now owns 1,992,397 shares of the company’s stock, valued at approximately $45,346,955.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Fund 1 Investments, Llc also recently made the following trade(s):

• On Friday, May 3rd, Fund 1 Investments, Llc acquired 5,000 shares of Citi Trends stock. The shares were acquired at an average cost of $22.07 per share, with a total value of $110,350.00.
• On Wednesday, May 1st, Fund 1 Investments, Llc bought 30,000 shares of Citi Trends stock. The shares were bought at an average price of $21.47 per share, for a total transaction of $644,100.00.
• On Monday, April 29th, Fund 1 Investments, Llc purchased 10,800 shares of Citi Trends stock. The stock was bought at an average price of $21.79 per share, with a total value of $235,332.00.
• On Friday, April 26th, Fund 1 Investments, Llc acquired 11,300 shares of Citi Trends stock. The shares were bought 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 bought 4,800 shares of Citi Trends stock. The shares were 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 purchased 23,495 shares of Citi Trends stock. The stock was purchased at an average price of $21.74 per share, with a total value of $510,781.30.
• On Friday, April 19th, Fund 1 Investments, Llc bought 13,000 shares of Citi Trends stock. The stock was 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 acquired 18,090 shares of Citi Trends stock. The stock was acquired at an average price of $22.41 per share, for a total transaction 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 price of $22.41 per share, with a total value 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, for a total transaction of $386,580.00.

Citi Trends Stock Performance

NASDAQ CTRN opened at $22.93 on Thursday. The stock has a 50 day moving average price of $26.10 and a 200-day moving average price of $26.26. Citi Trends, Inc. has a one year low of $14.20 and a one year high of $32.90. The company has a market capitalization of $195.75 million, a P/E ratio of -15.60 and a beta of 2.43.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data 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 business had revenue of $215.18 million during the quarter.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CTRN. Benchmark reiterated 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 reiterated a “hold” rating and issued a $27.00 price target (down previously from $28.00) on shares of Citi Trends in a research note on Tuesday, March 19th.

Institutional Investors Weigh In On Citi Trends

Several large investors have recently added to or reduced their stakes in CTRN. SG Americas Securities LLC purchased a new position in shares of Citi Trends in the 1st quarter worth approximately $139,000. Empowered Funds LLC lifted its position in Citi Trends by 8.0% in the first quarter. Empowered Funds LLC now owns 21,257 shares of the company’s stock worth $577,000 after buying an additional 1,575 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Citi Trends by 89.5% during the first quarter. Assenagon Asset Management S.A. now owns 118,772 shares of the company’s stock worth $3,222,000 after buying an additional 56,087 shares during the period. Fund 1 Investments LLC increased its position in Citi Trends by 55.6% during the fourth quarter. Fund 1 Investments LLC now owns 1,329,342 shares of the company’s stock valued at $37,594,000 after acquiring an additional 474,736 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Citi Trends by 22.1% in the fourth quarter. Franklin Resources Inc. now owns 50,197 shares of the company’s stock valued at $1,420,000 after acquiring an additional 9,074 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.