Insider Buying: Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Purchases 23,495 Shares of Stock

Posted by Chris Copeland on Apr 23rd, 2024

Citi Trends, Inc. (NASDAQ:CTRN – Get Free Report) major shareholder Fund 1 Investments, Llc acquired 23,495 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was acquired at an average price of $21.74 per share, with a total value of $510,781.30. Following the transaction, the insider now directly owns 1,835,367 shares of the company’s stock, valued at approximately $39,900,878.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Fund 1 Investments, Llc also recently made the following trade(s):

On Friday, April 19th, Fund 1 Investments, Llc purchased 13,000 shares of Citi Trends stock. The stock was purchased at an average price of $22.15 per share, with a total value of $287,950.00.
On Wednesday, April 17th, Fund 1 Investments, Llc acquired 18,090 shares of Citi Trends stock. The shares were acquired at an average price of $22.41 per share, for a total transaction of $405,396.90.
On Monday, April 15th, Fund 1 Investments, Llc bought 5,136 shares of Citi Trends stock. The stock was acquired at an average price of $22.41 per share, with a total value of $115,097.76.
On Friday, April 12th, Fund 1 Investments, Llc purchased 17,000 shares of Citi Trends stock. The stock was acquired 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 acquired 20,282 shares of Citi Trends stock. The shares were bought at an average price 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 bought at an average price of $24.35 per share, with a total value of $146,100.00.
On Thursday, April 4th, Fund 1 Investments, Llc purchased 5,000 shares of Citi Trends stock. The shares were bought at an average cost 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 bought 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 bought 16,000 shares of Citi Trends stock. The stock was purchased at an average cost of $27.12 per share, for a total transaction of $433,920.00.
On Wednesday, March 20th, Fund 1 Investments, Llc purchased 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

NASDAQ CTRN traded up $0.01 on Tuesday, reaching $22.23. The company had a trading volume of 100,975 shares, compared to its average volume of 76,761. The firm has a 50-day moving average of $27.67 and a 200-day moving average of $26.41. Citi Trends, Inc. has a 1 year low of $14.20 and a 1 year high of $32.90. The firm has a market capitalization of $189.84 million, a PE ratio of -14.99 and a beta of 2.37.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on CTRN shares. Benchmark restated a “buy” rating and issued a $35.00 price objective on shares of Citi Trends in a report on Wednesday, March 20th. Craig Hallum reiterated a “hold” rating and set a $27.00 price objective (down from $28.00) on shares of Citi Trends in a research note on Tuesday, March 19th.

Check Out Our Latest Report on Citi Trends

Hedge Funds Weigh In On Citi Trends

A number of institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new stake in shares of Citi Trends during the third quarter worth approximately $1,089,000. Citigroup Inc. increased its position in shares of Citi Trends by 60,229.1% in the 3rd quarter. Citigroup Inc. now owns 33,181 shares of the company’s stock worth $737,000 after purchasing an additional 33,126 shares during the last quarter. Jennison Associates LLC increased its position in shares of Citi Trends by 47.5% in the 3rd quarter. Jennison Associates LLC now owns 376,278 shares of the company’s stock worth $8,361,000 after purchasing an additional 121,134 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Citi Trends in the 3rd quarter valued at about $1,617,000. Finally, Hsbc Holdings PLC bought a new position in shares of Citi Trends during the third quarter worth about $229,000.

Citi Trends Company Profile

(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.