Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Acquires $510,781.30 in Stock

Posted by Anthony Miller on Apr 26th, 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 dated Monday, April 22nd. The stock was purchased at an average price of $21.74 per share, for a total transaction of $510,781.30. Following the completion of the acquisition, the insider now owns 1,835,367 shares in the company, valued at $39,900,878.58. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

On Friday, April 19th, Fund 1 Investments, Llc acquired 13,000 shares of Citi Trends stock. The stock was purchased at an average price of $22.15 per share, for a total transaction of $287,950.00.
On Wednesday, April 17th, Fund 1 Investments, Llc acquired 18,090 shares of Citi Trends stock. The stock was purchased 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 acquired 5,136 shares of Citi Trends stock. The stock was purchased at an average price of $22.41 per share, for a total transaction of $115,097.76.
On Friday, April 12th, Fund 1 Investments, Llc acquired 17,000 shares of Citi Trends stock. The stock was purchased at an average price 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 stock was purchased 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 acquired 6,000 shares of Citi Trends stock. The stock was purchased at an average price of $24.35 per share, for a total transaction of $146,100.00.
On Thursday, April 4th, Fund 1 Investments, Llc bought 5,000 shares of Citi Trends stock. The shares were bought at an average price of $25.19 per share, for a total transaction of $125,950.00.
On Tuesday, April 2nd, Fund 1 Investments, Llc bought 2,000 shares of Citi Trends stock. The shares were bought at an average price of $26.92 per share, for a total transaction of $53,840.00.
On Thursday, March 28th, Fund 1 Investments, Llc bought 16,000 shares of Citi Trends stock. The shares were bought at an average price of $27.12 per share, for a total transaction of $433,920.00.
On Wednesday, March 20th, Fund 1 Investments, Llc bought 14,500 shares of Citi Trends stock. The shares were bought at an average price of $28.69 per share, for a total transaction of $416,005.00.

Citi Trends Stock Down 1.3 %

CTRN stock opened at $21.78 on Friday. Citi Trends, Inc. has a 52-week low of $14.20 and a 52-week high of $32.90. The stock’s 50 day moving average is $27.40 and its two-hundred day moving average is $26.37. The company has a market capitalization of $186.00 million, a PE ratio of -15.01 and a beta of 2.37.

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

Analysts Set New Price Targets

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

View Our Latest Research Report on Citi Trends

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Citi Trends in the 3rd quarter worth approximately $1,089,000. Citigroup Inc. grew 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 acquiring an additional 33,126 shares in the last quarter. Jennison Associates LLC grew 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 acquiring an additional 121,134 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Citi Trends in the 3rd quarter worth approximately $1,617,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Citi Trends in the 3rd quarter worth approximately $229,000.

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.