Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Acquires $445,410.00 in Stock

Posted by James Conley on Jun 28th, 2024

Citi Trends, Inc. (NASDAQ:CTRN – Get Free Report) major shareholder Fund 1 Investments, Llc acquired 21,000 shares of Citi Trends stock in a transaction that occurred on Monday, June 24th. The shares were bought at an average cost of $21.21 per share, with a total value of $445,410.00. Following the transaction, the insider now owns 2,456,486 shares in the company, valued at $52,102,068.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 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 Friday, June 21st, Fund 1 Investments, Llc bought 52,000 shares of Citi Trends stock. The shares were acquired 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 bought 49,000 shares of Citi Trends stock. The shares were acquired 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 bought 6,000 shares of Citi Trends stock. The shares were acquired 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 bought 46,500 shares of Citi Trends stock. The shares were acquired 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 bought 7,835 shares of Citi Trends stock. The shares were acquired 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 purchased 32,192 shares of Citi Trends stock. The stock was purchased at an average price of $22.21 per share, for a total transaction of $714,984.32.
On Monday, May 20th, Fund 1 Investments, Llc purchased 16,100 shares of Citi Trends stock. The stock was purchased at an average price of $23.23 per share, for a total transaction of $374,003.00.
On Friday, May 17th, Fund 1 Investments, Llc purchased 6,000 shares of Citi Trends stock. The stock was purchased at an average price of $23.07 per share, for a total transaction of $138,420.00.
On Wednesday, May 15th, Fund 1 Investments, Llc purchased 15,785 shares of Citi Trends stock. The stock was purchased at an average price of $24.07 per share, for a total transaction of $379,944.95.
On Monday, May 13th, Fund 1 Investments, Llc bought 5,481 shares of Citi Trends stock. The stock was bought at an average cost of $23.48 per share, for a total transaction of $128,693.88.

Citi Trends Trading Down 0.3 %

CTRN opened at $21.73 on Friday. Citi Trends, Inc. has a 12 month low of $16.19 and a 12 month high of $32.90. The stock has a 50-day moving average of $22.62 and a 200 day moving average of $25.89. The firm has a market cap of $186.88 million, a P/E ratio of -20.12 and a beta of 2.38.

Analysts Set New Price Targets

A number of equities analysts recently commented on CTRN shares. Benchmark reaffirmed a “buy” rating and issued a $35.00 target price on shares of Citi Trends in a report on Wednesday, June 5th. Craig Hallum decreased their price target on Citi Trends from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Wednesday, June 5th.

Get Our Latest Report on Citi Trends

Institutional Trading of Citi Trends

Large investors have recently modified their holdings of the company. Fund 1 Investments LLC raised its stake in Citi Trends by 55.6% in the fourth quarter. Fund 1 Investments LLC now owns 1,329,342 shares of the company’s stock worth $37,594,000 after buying an additional 474,736 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Citi Trends by 89.5% during the first quarter. Assenagon Asset Management S.A. now owns 118,772 shares of the company’s stock worth $3,222,000 after purchasing an additional 56,087 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Citi Trends during the third quarter worth $1,089,000. Jennison Associates LLC increased its position in shares of Citi Trends by 10.6% during the fourth quarter. Jennison Associates LLC now owns 416,029 shares of the company’s stock worth $11,765,000 after purchasing an additional 39,751 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of Citi Trends by 60,229.1% during the third quarter. Citigroup Inc. now owns 33,181 shares of the company’s stock worth $737,000 after purchasing an additional 33,126 shares in the last quarter.

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.