Citi Trends (NASDAQ:CTRN) Given New $20.00 Price Target at DA Davidson

Citi Trends (NASDAQ:CTRN) had its price target reduced by DA Davidson from $33.00 to $20.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

CTRN has been the topic of several other reports. Craig Hallum dropped their price objective on shares of Citi Trends from $25.00 to $14.00 and set a hold rating on the stock in a research note on Wednesday. Benchmark reiterated a buy rating and set a $35.00 price target on shares of Citi Trends in a research note on Wednesday, June 5th.

Citi Trends Stock Performance

Shares of CTRN opened at $14.32 on Wednesday. The company has a market capitalization of $123.08 million, a price-to-earnings ratio of -13.26 and a beta of 2.39. Citi Trends has a fifty-two week low of $13.98 and a fifty-two week high of $32.90. The firm has a 50-day simple moving average of $18.32 and a 200-day simple moving average of $22.99.

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

Insiders Place Their Bets

In related news, major shareholder Fund 1 Investments, Llc bought 46,500 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were bought at an average cost of $22.59 per share, for a total transaction of $1,050,435.00. Following the transaction, the insider now owns 2,205,862 shares of the company’s stock, valued at $49,830,422.58. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Kenneth Duane Seipel purchased 86,998 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were acquired at an average price of $18.96 per share, for a total transaction of $1,649,482.08. Following the acquisition, the chief executive officer now directly owns 123,916 shares in the company, valued at approximately $2,349,447.36. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Fund 1 Investments, Llc acquired 46,500 shares of Citi Trends stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average cost of $22.59 per share, with a total value of $1,050,435.00. Following the completion of the acquisition, the insider now owns 2,205,862 shares of the company’s stock, valued at approximately $49,830,422.58. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 484,461 shares of company stock worth $9,890,483. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Citi Trends

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Citi Trends during the 1st quarter worth $139,000. Deerfield Management Company L.P. Series C purchased a new stake in shares of Citi Trends in the second quarter valued at about $208,000. Jump Financial LLC acquired a new stake in shares of Citi Trends in the fourth quarter valued at approximately $223,000. Rhumbline Advisers grew its position in shares of Citi Trends by 41,964.0% in the second quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock valued at $224,000 after purchasing an additional 10,491 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Citi Trends by 8.0% during the 1st quarter. Empowered Funds LLC now owns 21,257 shares of the company’s stock worth $577,000 after purchasing an additional 1,575 shares in the last quarter.

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.