Insider Selling: Citi Trends (NASDAQ:CTRN) EVP Sells $701,000.00 in Stock

Citi Trends, Inc. (NASDAQ:CTRN) EVP Lisa Powell sold 10,000 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $70.10, for a total value of $701,000.00. Following the completion of the transaction, the executive vice president owned 13,970 shares of the company’s stock, valued at $979,297. This trade represents a 41.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Citi Trends Trading Down 3.4%

NASDAQ CTRN opened at $63.96 on Friday. The stock’s 50-day moving average price is $67.26 and its two-hundred day moving average price is $54.54. The company has a market cap of $532.79 million, a PE ratio of 78.00 and a beta of 1.82. Citi Trends, Inc. has a 1 year low of $29.60 and a 1 year high of $77.91.

Citi Trends (NASDAQ:CTRN) last announced its earnings results on Tuesday, August 25th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.32) by $0.37. The company had revenue of $211.63 million during the quarter, compared to analysts’ expectations of $211.60 million. Citi Trends had a net margin of 0.84% and a return on equity of 8.25%.

Institutional Trading of Citi Trends

Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc acquired a new position in Citi Trends in the 2nd quarter valued at approximately $30,000. Allworth Financial LP acquired a new stake in shares of Citi Trends during the 2nd quarter valued at $31,000. BNP Paribas Financial Markets boosted its stake in shares of Citi Trends by 143.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock valued at $33,000 after buying an additional 619 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Citi Trends during the 2nd quarter valued at $62,000. Finally, New York State Common Retirement Fund grew its holdings in shares of Citi Trends by 175.0% during the 4th quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock valued at $46,000 after acquiring an additional 700 shares in the last quarter.

Analysts Set New Price Targets

CTRN has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research report on Monday, June 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Citi Trends in a research report on Wednesday, August 26th. Finally, DA Davidson set a $81.00 price target on Citi Trends in a report on Wednesday, August 26th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.00.

About Citi Trends

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.