Citi Trends, Inc. (NASDAQ:CTRN) Short Interest Up 8.2% in September

Citi Trends, Inc. (NASDAQ:CTRN) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 1,720,000 shares, an increase of 8.2% from the August 31st total of 1,590,000 shares. Based on an average trading volume of 207,000 shares, the short-interest ratio is currently 8.3 days. Approximately 21.7% of the shares of the stock are sold short.

Insider Activity

In other Citi Trends news, CEO Kenneth Duane Seipel acquired 86,998 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were acquired at an average cost of $18.96 per share, for a total transaction of $1,649,482.08. Following the transaction, the chief executive officer now directly owns 123,916 shares of the company’s stock, valued at $2,349,447.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Citi Trends news, CEO Kenneth Duane Seipel purchased 86,998 shares of Citi Trends stock in a transaction on Wednesday, July 10th. The shares were bought at an average price of $18.96 per share, with a total value of $1,649,482.08. Following the completion of the acquisition, the chief executive officer now directly owns 123,916 shares of the company’s stock, valued at $2,349,447.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Heather L. Plutino purchased 3,573 shares of the stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $13.99 per share, for a total transaction of $49,986.27. Following the completion of the transaction, the chief financial officer now directly owns 21,316 shares of the company’s stock, valued at $298,210.84. The disclosure for this purchase can be found here. In the last three months, insiders purchased 263,699 shares of company stock worth $4,875,638. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Citi Trends

Several large investors have recently made changes to their positions in the business. Empowered Funds LLC boosted its position in 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 during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Citi Trends by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 197,815 shares of the company’s stock worth $5,594,000 after buying an additional 4,779 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Citi Trends in the first quarter valued at about $139,000. Anchor Capital Advisors LLC raised its holdings in shares of Citi Trends by 11.3% during the 2nd quarter. Anchor Capital Advisors LLC now owns 52,247 shares of the company’s stock valued at $1,111,000 after buying an additional 5,307 shares during the period. Finally, Franklin Resources Inc. lifted its position in Citi Trends by 22.1% during the 4th quarter. Franklin Resources Inc. now owns 50,197 shares of the company’s stock worth $1,420,000 after acquiring an additional 9,074 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com cut shares of Citi Trends from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Benchmark restated a “buy” rating and set a $35.00 price objective on shares of Citi Trends in a report on Wednesday, June 5th. DA Davidson lowered their price objective on Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Finally, Craig Hallum reduced their target price on Citi Trends from $25.00 to $14.00 and set a “hold” rating on the stock in a research report on Wednesday, August 28th.

Citi Trends Stock Down 0.7 %

Shares of CTRN opened at $18.37 on Tuesday. Citi Trends has a fifty-two week low of $13.65 and a fifty-two week high of $32.90. The company’s fifty day moving average is $16.59 and its two-hundred day moving average is $20.80. The firm has a market cap of $157.89 million, a PE ratio of -17.01 and a beta of 2.39.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, August 27th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($1.42). The firm had revenue of $176.55 million for the quarter. Citi Trends had a negative net margin of 2.92% and a negative return on equity of 12.62%.

Citi Trends Company Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company 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.