Citi Trends (NASDAQ:CTRN) Rating Lowered to Sell at StockNews.com

Citi Trends (NASDAQ:CTRN) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Other equities analysts have also recently issued research reports about the company. Craig Hallum raised Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Monday, February 10th. DA Davidson reissued a “buy” rating and issued a $29.00 target price on shares of Citi Trends in a research report on Wednesday.

Citi Trends Trading Down 5.4 %

CTRN stock traded down $1.15 on Thursday, hitting $20.11. 169,256 shares of the company’s stock traded hands, compared to its average volume of 122,743. The stock has a market cap of $175.16 million, a price-to-earnings ratio of -6.55 and a beta of 2.29. Citi Trends has a 1-year low of $13.66 and a 1-year high of $29.41. The stock has a fifty day moving average of $25.07 and a 200-day moving average of $22.05.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($1.55) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($1.73). The company had revenue of $211.17 million during the quarter, compared to the consensus estimate of $211.54 million. Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%. During the same period in the prior year, the company posted $0.53 EPS.

Insider Transactions at Citi Trends

In related news, Director Jonathan Duskin sold 12,000 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $26.44, for a total value of $317,280.00. Following the completion of the sale, the director now directly owns 33,396 shares of the company’s stock, valued at approximately $882,990.24. This represents a 26.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.80% of the stock is currently owned by insiders.

Institutional Trading of Citi Trends

Institutional investors have recently bought and sold shares of the company. Empowered Funds LLC raised its stake in shares of Citi Trends by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 24,083 shares of the company’s stock worth $442,000 after purchasing an additional 1,206 shares in the last quarter. Quest Partners LLC bought a new position in Citi Trends during the third quarter valued at approximately $40,000. Quantbot Technologies LP lifted its stake in Citi Trends by 111.3% in the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after acquiring an additional 4,250 shares during the last quarter. Jane Street Group LLC bought a new stake in Citi Trends in the third quarter worth approximately $193,000. Finally, XTX Topco Ltd acquired a new position in shares of Citi Trends during the 3rd quarter worth $339,000.

Citi Trends Company Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company 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.