Citi Trends (NASDAQ:CTRN) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Citi Trends, Inc. (NASDAQ:CTRN)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $55.11 and traded as high as $56.50. Citi Trends shares last traded at $55.34, with a volume of 208,450 shares.

Wall Street Analyst Weigh In

CTRN has been the subject of a number of recent research reports. DA Davidson set a $81.00 price target on shares of Citi Trends in a research note on Wednesday, August 26th. Weiss Ratings downgraded Citi Trends from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, September 10th. Finally, Wall Street Zen cut Citi Trends from a “buy” rating to a “hold” rating in a research report on Saturday, September 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

Citi Trends Price Performance

The stock has a market capitalization of $421.67 million, a PE ratio of 61.66 and a beta of 1.82. The stock’s 50 day simple moving average is $67.22 and its two-hundred day simple moving average is $55.15.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, August 25th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.37. Citi Trends had a net margin of 0.84% and a return on equity of 8.11%. The company had revenue of $211.63 million for the quarter, compared to analysts’ expectations of $211.60 million.

Insider Activity

In other news, EVP Lisa Powell sold 10,000 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $70.10, for a total transaction of $701,000.00. Following the transaction, the executive vice president owned 13,970 shares of the company’s stock, valued at $979,297. This represents a 41.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Citi Trends

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTRN. Integrated Wealth Concepts LLC purchased a new stake in Citi Trends during the second quarter valued at about $62,000. Squarepoint Ops LLC increased its stake in shares of Citi Trends by 72.8% in the second quarter. Squarepoint Ops LLC now owns 10,815 shares of the company’s stock worth $626,000 after purchasing an additional 4,556 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Citi Trends in the second quarter worth about $316,000. Hsbc Holdings PLC raised its position in shares of Citi Trends by 2.4% in the second quarter. Hsbc Holdings PLC now owns 14,521 shares of the company’s stock valued at $828,000 after purchasing an additional 336 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Citi Trends in the second quarter valued at approximately $635,000.

Citi Trends Company Profile

Citi Trends, Inc is a value-focused specialty retailer serving predominantly African American and Latinx families and communities in the United States. The company operates stores under the Citi Trends banner and offers affordable merchandise for women, men and children.

Its product assortment includes apparel, footwear, accessories, beauty products, home décor, toys, and other seasonal and lifestyle merchandise. Citi Trends emphasizes frequently changing selections and value-oriented prices across its stores and online retail channel.

The company traces its roots to 1946 and has expanded from its origins as a regional retailer into a national chain serving customers primarily in urban and densely populated communities across the United States.