Fund 1 Investments, Llc Buys 54,000 Shares of Citi Trends, Inc. (NASDAQ:CTRN) Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc bought 54,000 shares of the stock in a transaction on Friday, June 28th. The shares were acquired at an average cost of $21.39 per share, for a total transaction of $1,155,060.00. Following the purchase, the insider now owns 2,541,986 shares in the company, valued at $54,373,080.54. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own more than 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 Wednesday, June 26th, Fund 1 Investments, Llc acquired 1,000 shares of Citi Trends stock. The shares were bought at an average cost of $21.52 per share, for a total transaction of $21,520.00.
• On Monday, June 24th, Fund 1 Investments, Llc bought 21,000 shares of Citi Trends stock. The stock was bought at an average price of $21.21 per share, with a total value of $445,410.00.
• On Friday, June 21st, Fund 1 Investments, Llc purchased 52,000 shares of Citi Trends stock. The shares were bought 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 acquired 49,000 shares of Citi Trends stock. The shares were purchased at an average cost of $21.58 per share, with a total value of $1,057,420.00.
• On Wednesday, June 12th, Fund 1 Investments, Llc bought 6,000 shares of Citi Trends stock. The stock was purchased at an average cost 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 purchased at an average cost of $22.59 per share, with a total value of $1,050,435.00.
• On Wednesday, June 5th, Fund 1 Investments, Llc acquired 7,835 shares of Citi Trends stock. The shares were acquired at an average cost of $24.02 per share, for a total transaction of $188,196.70.
• On Wednesday, May 22nd, Fund 1 Investments, Llc bought 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.
• On Monday, May 20th, Fund 1 Investments, Llc purchased 16,100 shares of Citi Trends stock. The shares were acquired 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 bought 6,000 shares of Citi Trends stock. The shares were acquired at an average cost of $23.07 per share, for a total transaction of $138,420.00.

Citi Trends Price Performance

CTRN stock opened at $21.26 on Friday. The company has a 50-day moving average of $22.60 and a two-hundred day moving average of $25.88. The stock has a market capitalization of $182.73 million, a price-to-earnings ratio of -19.69 and a beta of 2.38. Citi Trends, Inc. has a 52-week low of $16.19 and a 52-week high of $32.90.

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

Institutional Investors Weigh In On Citi Trends

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fund 1 Investments LLC raised its stake 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 valued at $37,594,000 after purchasing an additional 474,736 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Citi Trends by 89.5% in the first quarter. Assenagon Asset Management S.A. now owns 118,772 shares of the company’s stock valued at $3,222,000 after buying an additional 56,087 shares during the period. Acadian Asset Management LLC acquired a new stake in Citi Trends during the third quarter worth about $1,089,000. Jennison Associates LLC increased its stake in Citi Trends by 10.6% during the fourth 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. Finally, Citigroup Inc. raised its holdings 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 in the last quarter.

Analyst Ratings Changes

CTRN has been the subject of several recent analyst reports. Craig Hallum decreased their price target on Citi Trends from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Wednesday, June 5th. Benchmark reiterated a “buy” rating and set a $35.00 price target on shares of Citi Trends in a report on Wednesday, June 5th.

Citi Trends Company Profile

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.