Citi Trends (NASDAQ:CTRN) Upgraded to “Hold” at StockNews.com

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

Several other equities research analysts have also recently weighed in on CTRN. DA Davidson cut their price objective on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Craig Hallum cut 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 Performance

CTRN stock opened at $18.92 on Wednesday. The company’s 50-day simple moving average is $18.78 and its 200 day simple moving average is $19.21. 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 $163.09 million, a PE ratio of -7.06 and a beta of 2.40.

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

Insider Buying and Selling

In related news, CFO Heather L. Plutino bought 3,573 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average price of $13.99 per share, with a total value of $49,986.27. Following the completion of the acquisition, the chief financial officer now 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 is available through the SEC website. Also, CEO Kenneth Duane Seipel bought 25,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was bought at an average cost of $14.39 per share, with a total value of $359,750.00. Following the acquisition, the chief executive officer now directly owns 282,139 shares of the company’s stock, valued at approximately $4,059,980.21. The trade was a 9.72 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 31,573 shares of company stock valued at $455,336 over the last quarter. 3.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC increased its stake in shares of Citi Trends by 19.9% in the third quarter. Barclays PLC now owns 25,953 shares of the company’s stock valued at $478,000 after buying an additional 4,300 shares during the period. XTX Topco Ltd acquired a new position in shares of Citi Trends in the third quarter valued at approximately $339,000. Jane Street Group LLC acquired a new position in shares of Citi Trends in the third quarter valued at approximately $193,000. Quantbot Technologies LP increased its stake in shares of Citi Trends by 111.3% in the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after buying an additional 4,250 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of Citi Trends in the third quarter valued at approximately $40,000.

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.