Insider Buying: Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Purchases 15,000 Shares of Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc purchased 15,000 shares of the stock in a transaction on Monday, July 1st. The stock was acquired at an average price of $20.38 per share, for a total transaction of $305,700.00. Following the completion of the purchase, the insider now directly owns 2,556,986 shares in the company, valued at approximately $52,111,374.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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, July 3rd, Fund 1 Investments, Llc acquired 4,000 shares of Citi Trends stock. The shares were purchased at an average price of $19.27 per share, for a total transaction of $77,080.00.
• On Friday, June 28th, Fund 1 Investments, Llc acquired 54,000 shares of Citi Trends stock. The shares were purchased at an average price of $21.39 per share, for a total transaction of $1,155,060.00.
• On Wednesday, June 26th, Fund 1 Investments, Llc acquired 1,000 shares of Citi Trends stock. The shares were purchased at an average price of $21.52 per share, for a total transaction of $21,520.00.
• On Monday, June 24th, Fund 1 Investments, Llc acquired 21,000 shares of Citi Trends stock. The shares were purchased at an average price of $21.21 per share, for a total transaction of $445,410.00.
• On Friday, June 21st, Fund 1 Investments, Llc acquired 52,000 shares of Citi Trends stock. The shares were purchased at an average price of $21.39 per share, for a total transaction of $1,112,280.00.
• On Friday, June 14th, Fund 1 Investments, Llc purchased 49,000 shares of Citi Trends stock. The stock was bought at an average price of $21.58 per share, for a total transaction of $1,057,420.00.
• On Wednesday, June 12th, Fund 1 Investments, Llc purchased 6,000 shares of Citi Trends stock. The stock was bought at an average price of $22.36 per share, for a total transaction of $134,160.00.
• On Friday, June 7th, Fund 1 Investments, Llc purchased 46,500 shares of Citi Trends stock. The stock was bought at an average price of $22.59 per share, for a total transaction of $1,050,435.00.
• On Wednesday, June 5th, Fund 1 Investments, Llc purchased 7,835 shares of Citi Trends stock. The stock was bought at an average price of $24.02 per share, for a total transaction of $188,196.70.
• On Wednesday, May 22nd, Fund 1 Investments, Llc acquired 32,192 shares of Citi Trends stock. The stock was acquired at an average cost of $22.21 per share, with a total value of $714,984.32.

Citi Trends Stock Performance

Shares of Citi Trends stock traded down $0.11 on Wednesday, reaching $19.27. 41,490 shares of the stock were exchanged, compared to its average volume of 106,585. The firm’s 50 day moving average is $22.49 and its 200-day moving average is $25.82. Citi Trends, Inc. has a one year low of $16.19 and a one year high of $32.90.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings results on Tuesday, June 4th. The company reported ($0.32) earnings per share for the quarter. Citi Trends had a negative return on equity of 4.99% and a negative net margin of 1.16%. The firm had revenue of $186.29 million for the quarter.

Hedge Funds Weigh In On Citi Trends

A number of institutional investors have recently added to or reduced their stakes in CTRN. Fund 1 Investments LLC increased its position in Citi Trends by 55.6% during 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 in the last quarter. Assenagon Asset Management S.A. increased its position in Citi Trends by 89.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 118,772 shares of the company’s stock valued at $3,222,000 after acquiring an additional 56,087 shares during the period. Jennison Associates LLC increased its position in Citi Trends by 10.6% in the 4th quarter. Jennison Associates LLC now owns 416,029 shares of the company’s stock valued at $11,765,000 after acquiring an additional 39,751 shares during the period. Citigroup Inc. increased its position in Citi Trends by 60,229.1% in the 3rd quarter. Citigroup Inc. now owns 33,181 shares of the company’s stock valued at $737,000 after acquiring an additional 33,126 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Citi Trends by 13.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 193,036 shares of the company’s stock valued at $4,289,000 after acquiring an additional 22,311 shares during the period.

Analyst Ratings Changes

A number of analysts have issued reports on CTRN shares. Benchmark reissued a “buy” rating and issued a $35.00 price objective on shares of Citi Trends in a report on Wednesday, June 5th. Craig Hallum cut their price objective on shares of Citi Trends from $27.00 to $25.00 and set a “hold” rating for the company in a report on Wednesday, June 5th.

About Citi Trends

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.