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

Shares of Citi Trends, Inc. (NASDAQ:CTRN) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $52.63 and traded as high as $58.10. Citi Trends shares last traded at $57.78, with a volume of 214,393 shares traded.

Analyst Upgrades and Downgrades

CTRN has been the topic of several research analyst reports. DA Davidson set a $81.00 price target on shares of Citi Trends in a research report on Wednesday, August 26th. Wall Street Zen lowered Citi Trends from a “buy” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, Weiss Ratings cut Citi Trends from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Citi Trends has a consensus rating of “Hold” and an average price target of $81.00.

Citi Trends Price Performance

The stock has a 50 day moving average of $53.81 and a two-hundred day moving average of $52.65. The stock has a market capitalization of $375.38 million, a PE ratio of 47.24 and a beta of 1.85.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Tuesday, August 25th. The company reported $0.05 earnings per share for the quarter, beating 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 business had revenue of $211.63 million during the quarter, compared to analyst estimates of $211.60 million.

Insiders Place Their Bets

In related news, EVP Lisa A. Powell sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 13,970 shares in the company, valued at $979,297. This represents a 41.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Katrina George sold 500 shares of the company’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $50.57, for a total transaction of $25,285.00. Following the transaction, the vice president directly owned 5,213 shares of the company’s stock, valued at $263,621.41. This represents a 8.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Citi Trends

A number of large investors have recently modified their holdings of CTRN. Russell Investments Group Ltd. increased its stake in Citi Trends by 4.4% in the third quarter. Russell Investments Group Ltd. now owns 9,518 shares of the company’s stock valued at $491,000 after purchasing an additional 401 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Citi Trends in the third quarter worth $11,417,000. State of Wyoming boosted its stake in shares of Citi Trends by 45.9% in the 3rd quarter. State of Wyoming now owns 2,095 shares of the company’s stock valued at $108,000 after purchasing an additional 659 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Citi Trends during the 2nd quarter worth $62,000. Finally, Squarepoint Ops LLC raised its holdings in Citi Trends by 72.8% in the 2nd quarter. Squarepoint Ops LLC now owns 10,815 shares of the company’s stock valued at $626,000 after buying an additional 4,556 shares during the last quarter.

Citi Trends Company Profile

Citi Trends, Inc is a value-oriented retailer focused on apparel, accessories and home-related merchandise for African American and Latinx families. The company operates under the Citi Trends name and offers products designed to reflect current fashion and lifestyle trends at accessible prices.

Its merchandise assortment includes clothing, footwear and accessories for women, men and children, as well as infant and toddler items. Citi Trends also sells beauty products, toys, home décor and other household merchandise.