Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Buys $235,332.00 in Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc acquired 10,800 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average cost of $21.79 per share, for a total transaction of $235,332.00. Following the acquisition, the insider now owns 1,900,267 shares of the company’s stock, valued at approximately $41,406,817.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, May 1st, Fund 1 Investments, Llc purchased 30,000 shares of Citi Trends stock. The stock was acquired at an average price of $21.47 per share, for a total transaction of $644,100.00.
• On Friday, April 26th, Fund 1 Investments, Llc acquired 11,300 shares of Citi Trends stock. The shares were acquired at an average cost 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 stock was bought at an average cost 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 shares were bought at an average cost of $21.74 per share, with a total value of $510,781.30.
• On Friday, April 19th, Fund 1 Investments, Llc acquired 13,000 shares of Citi Trends stock. The stock was bought at an average cost of $22.15 per share, for a total transaction of $287,950.00.
• On Wednesday, April 17th, Fund 1 Investments, Llc acquired 18,090 shares of Citi Trends stock. The shares were bought at an average price of $22.41 per share, with a total value of $405,396.90.
• On Monday, April 15th, Fund 1 Investments, Llc purchased 5,136 shares of Citi Trends stock. The shares were purchased 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 acquired 17,000 shares of Citi Trends stock. The stock was purchased at an average cost of $22.74 per share, with a total value of $386,580.00.
• On Wednesday, April 10th, Fund 1 Investments, Llc bought 20,282 shares of Citi Trends stock. The shares were purchased 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 purchased 6,000 shares of Citi Trends stock. The shares were acquired at an average cost of $24.35 per share, for a total transaction of $146,100.00.

Citi Trends Trading Up 1.3 %

Shares of Citi Trends stock opened at $22.10 on Friday. The firm has a market cap of $188.73 million, a PE ratio of -15.03 and a beta of 2.43. The stock has a 50 day moving average of $26.48 and a 200 day moving average of $26.28. Citi Trends, Inc. has a 12 month low of $14.20 and a 12 month high of $32.90.

Citi Trends (NASDAQ:CTRN) last posted its earnings results on Tuesday, March 19th. The company reported $0.53 EPS for the quarter. Citi Trends had a negative return on equity of 6.74% and a negative net margin of 1.60%. The firm had revenue of $215.18 million during the quarter.

Analysts Set New Price Targets

Several brokerages recently issued reports on CTRN. Craig Hallum reissued a “hold” rating and set a $27.00 target price (down previously from $28.00) on shares of Citi Trends in a research note on Tuesday, March 19th. Benchmark reissued a “buy” rating and issued a $35.00 target price on shares of Citi Trends in a report on Wednesday, March 20th.

Institutional Trading of Citi Trends

A number of large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its position in Citi Trends by 89.5% in the first quarter. Assenagon Asset Management S.A. now owns 118,772 shares of the company’s stock worth $3,222,000 after acquiring an additional 56,087 shares in the last quarter. Fund 1 Investments LLC boosted its holdings in shares of Citi Trends by 55.6% in the 4th 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 during the period. Franklin Resources Inc. increased its position in shares of Citi Trends by 22.1% during the 4th quarter. Franklin Resources Inc. now owns 50,197 shares of the company’s stock valued at $1,420,000 after purchasing an additional 9,074 shares during the last quarter. Jump Financial LLC purchased a new stake in Citi Trends during the 4th quarter valued at $223,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Citi Trends by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 197,815 shares of the company’s stock worth $5,594,000 after buying an additional 4,779 shares during the last quarter.

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.