Citi Trends (NASDAQ:CTRN) Upgraded at StockNews.com

StockNews.com upgraded shares of Citi Trends (NASDAQ:CTRN) from a sell rating to a hold rating in a report released on Thursday morning.

A number of other brokerages also recently issued reports on CTRN. DA Davidson decreased their price target on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Craig Hallum decreased their price objective on shares of Citi Trends from $25.00 to $14.00 and set a “hold” rating for the company in a research report on Wednesday, August 28th.

Citi Trends Stock Down 0.3 %

Shares of NASDAQ:CTRN opened at $19.95 on Thursday. Citi Trends has a 52 week low of $13.65 and a 52 week high of $32.90. The company has a market capitalization of $171.87 million, a price-to-earnings ratio of -7.44 and a beta of 2.40. The firm has a 50 day moving average of $18.97 and a 200 day moving average of $19.06.

Insider Activity at Citi Trends

In related news, CFO Heather L. Plutino purchased 3,573 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $13.99 per share, for a total transaction of $49,986.27. Following the purchase, the chief financial officer now directly owns 21,316 shares of the company’s stock, valued at $298,210.84. The trade was a 20.14 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Citi Trends

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers lifted its holdings in shares of Citi Trends by 41,964.0% in the 2nd 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. Anchor Capital Advisors LLC lifted its stake in Citi Trends by 11.3% in the second 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 last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Citi Trends by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company’s stock valued at $12,938,000 after acquiring an additional 37,107 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Citi Trends in the 2nd quarter valued at $584,000. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Citi Trends in the 2nd quarter valued at $208,000.

About Citi Trends

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.