Insider Buying: Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Buys $287,950.00 in Stock

Posted by John Perry on Apr 26th, 2024

Citi Trends, Inc. (NASDAQ:CTRN – Get Free Report) major shareholder Fund 1 Investments, Llc purchased 13,000 shares of Citi Trends stock in a transaction that occurred on Friday, April 19th. The shares were bought at an average price of $22.15 per share, with a total value of $287,950.00. Following the transaction, the insider now owns 1,811,872 shares of the company’s stock, valued at approximately $40,132,964.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% 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 Monday, April 22nd, Fund 1 Investments, Llc purchased 23,495 shares of Citi Trends stock. The shares were bought at an average price of $21.74 per share, with a total value of $510,781.30.
On Wednesday, April 17th, Fund 1 Investments, Llc purchased 18,090 shares of Citi Trends stock. The stock was purchased at an average cost of $22.41 per share, for a total transaction of $405,396.90.
On Monday, April 15th, Fund 1 Investments, Llc purchased 5,136 shares of Citi Trends stock. The stock was 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 bought 17,000 shares of Citi Trends stock. The stock was bought at an average cost of $22.74 per share, for a total transaction of $386,580.00.
On Wednesday, April 10th, Fund 1 Investments, Llc bought 20,282 shares of Citi Trends stock. The stock was bought at an average cost of $23.12 per share, for a total transaction of $468,919.84.
On Monday, April 8th, Fund 1 Investments, Llc bought 6,000 shares of Citi Trends stock. The stock was purchased at an average price of $24.35 per share, for a total transaction of $146,100.00.
On Thursday, April 4th, Fund 1 Investments, Llc bought 5,000 shares of Citi Trends stock. The stock was purchased at an average price of $25.19 per share, for a total transaction of $125,950.00.
On Tuesday, April 2nd, Fund 1 Investments, Llc acquired 2,000 shares of Citi Trends stock. The shares were purchased at an average cost of $26.92 per share, with a total value of $53,840.00.
On Thursday, March 28th, Fund 1 Investments, Llc acquired 16,000 shares of Citi Trends stock. The shares were purchased at an average cost of $27.12 per share, with a total value of $433,920.00.
On Wednesday, March 20th, Fund 1 Investments, Llc acquired 14,500 shares of Citi Trends stock. The shares were purchased at an average cost of $28.69 per share, with a total value of $416,005.00.

Citi Trends Price Performance

CTRN opened at $21.78 on Friday. The stock has a 50-day moving average price of $27.40 and a 200-day moving average price of $26.37. The firm has a market cap of $186.00 million, a PE ratio of -15.01 and a beta of 2.37. Citi Trends, Inc. has a 1 year low of $14.20 and a 1 year high of $32.90.

Citi Trends (NASDAQ:CTRN – Get Free Report) last issued its earnings results on Tuesday, March 19th. The company reported $0.53 earnings per share for the quarter. Citi Trends had a negative return on equity of 6.74% and a negative net margin of 1.60%. The business had revenue of $215.18 million during the quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $35.00 price target on shares of Citi Trends in a research report on Wednesday, March 20th. Craig Hallum reaffirmed a “hold” rating and issued a $27.00 price target (down previously from $28.00) on shares of Citi Trends in a research report on Tuesday, March 19th.

Check Out Our Latest Analysis on CTRN

Hedge Funds Weigh In On Citi Trends

Hedge funds have recently bought and sold shares of the business. Jump Financial LLC purchased a new position in Citi Trends in the 4th quarter worth about $223,000. Hsbc Holdings PLC purchased a new position in Citi Trends in the 3rd quarter worth about $229,000. Ancora Advisors LLC purchased a new position in Citi Trends in the 3rd quarter worth about $280,000. Quadrature Capital Ltd raised its position in Citi Trends by 71.7% in the 3rd quarter. Quadrature Capital Ltd now owns 28,241 shares of the company’s stock worth $628,000 after buying an additional 11,791 shares during the last quarter. Finally, Citigroup Inc. grew its stake in shares of Citi Trends by 60,229.1% during the 3rd quarter. Citigroup Inc. now owns 33,181 shares of the company’s stock valued at $737,000 after purchasing an additional 33,126 shares during the period.

About Citi Trends

(Get Free Report)

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.