Insider Selling: Citi Trends (NASDAQ:CTRN) Director Sells 2,000 Shares of Stock

Citi Trends, Inc. (NASDAQ:CTRN) Director Margaret Jenkins sold 2,000 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $45.91, for a total transaction of $91,820.00. Following the transaction, the director owned 14,163 shares of the company’s stock, valued at $650,223.33. The trade was a 12.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Citi Trends Stock Down 4.2%

CTRN traded down $1.93 during trading hours on Tuesday, hitting $43.89. 25,495 shares of the company’s stock were exchanged, compared to its average volume of 95,005. Citi Trends, Inc. has a 1-year low of $17.98 and a 1-year high of $56.78. The stock’s 50-day moving average is $45.48 and its two-hundred day moving average is $41.93. The stock has a market cap of $366.26 million, a price-to-earnings ratio of 74.39 and a beta of 2.04.

Citi Trends (NASDAQ:CTRN) last announced its earnings results on Tuesday, March 17th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. Citi Trends had a net margin of 0.64% and a negative return on equity of 4.85%. The business had revenue of $230.39 million during the quarter, compared to analysts’ expectations of $227.42 million.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Craig Hallum reiterated a “buy” rating on shares of Citi Trends in a research note on Wednesday, March 18th. Wall Street Zen downgraded shares of Citi Trends from a “buy” rating to a “hold” rating in a research note on Monday, December 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Citi Trends in a research note on Wednesday, January 21st. Finally, DA Davidson set a $68.00 price target on shares of Citi Trends in a research note on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $68.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its position in shares of Citi Trends by 143.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock worth $33,000 after purchasing an additional 619 shares during the period. New York State Common Retirement Fund increased its stake in shares of Citi Trends by 175.0% in 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. Kemnay Advisory Services Inc. bought a new stake in shares of Citi Trends in the 4th quarter valued at $51,000. Meeder Asset Management Inc. increased its stake in shares of Citi Trends by 277.1% in the 4th quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company’s stock valued at $68,000 after acquiring an additional 1,211 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Citi Trends by 758.3% in the 3rd quarter. CWM LLC now owns 2,678 shares of the company’s stock valued at $83,000 after acquiring an additional 2,366 shares in the last quarter.

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.