Short Interest in Citi Trends, Inc. (NASDAQ:CTRN) Expands By 15.2%

Citi Trends, Inc. (NASDAQ:CTRNGet Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,080,000 shares, a growth of 15.2% from the February 29th total of 937,300 shares. Based on an average trading volume of 75,800 shares, the short-interest ratio is currently 14.2 days. Currently, 13.2% of the shares of the company are sold short.

Citi Trends Stock Performance

NASDAQ CTRN traded down $0.56 on Tuesday, reaching $27.02. The company’s stock had a trading volume of 51,179 shares, compared to its average volume of 75,746. Citi Trends has a twelve month low of $14.20 and a twelve month high of $32.90. The stock has a market cap of $230.75 million, a PE ratio of -18.38 and a beta of 2.37. The firm’s 50 day moving average is $29.02 and its two-hundred day moving average is $26.20.

Insider Transactions at Citi Trends

In other news, major shareholder Fund 1 Investments, Llc purchased 2,000 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was acquired at an average price of $26.92 per share, for a total transaction of $53,840.00. Following the completion of the transaction, the insider now owns 1,678,664 shares of the company’s stock, valued at $45,189,634.88. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders bought 160,938 shares of company stock worth $4,830,742. Insiders own 4.20% of the company’s stock.

Institutional Trading of Citi Trends

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in Citi Trends during the third quarter valued at about $1,089,000. Citigroup Inc. lifted its stake in Citi Trends by 60,229.1% during the third quarter. Citigroup Inc. now owns 33,181 shares of the company’s stock valued at $737,000 after buying an additional 33,126 shares in the last quarter. Jennison Associates LLC lifted its stake in Citi Trends by 47.5% during the third quarter. Jennison Associates LLC now owns 376,278 shares of the company’s stock valued at $8,361,000 after buying an additional 121,134 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Citi Trends in the third quarter worth approximately $229,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Citi Trends in the third quarter worth approximately $1,617,000.

Analyst Upgrades and Downgrades

CTRN has been the subject of a number of recent analyst reports. Benchmark reiterated a “buy” rating and issued a $35.00 target price on shares of Citi Trends in a research report on Wednesday, March 20th. Craig Hallum reiterated a “hold” rating and issued a $27.00 target price (down previously from $28.00) on shares of Citi Trends in a research report on Tuesday, March 19th.

View Our Latest Report on Citi Trends

Citi Trends Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for Citi Trends Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citi Trends and related companies with MarketBeat.com's FREE daily email newsletter.