Citi Trends (NASDAQ:CTRN) Raised to Hold at StockNews.com

Citi Trends (NASDAQ:CTRN) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

CTRN has been the subject of several other reports. DA Davidson dropped their target price 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 dropped their target price 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 Price Performance

Citi Trends stock traded up $0.87 during midday trading on Thursday, hitting $20.02. The company’s stock had a trading volume of 102,048 shares, compared to its average volume of 122,385. Citi Trends has a 1-year low of $13.65 and a 1-year high of $32.90. The company has a 50-day moving average price of $18.91 and a two-hundred day moving average price of $19.11. The company has a market cap of $172.57 million, a price-to-earnings ratio of -7.47 and a beta of 2.40.

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

Insider Activity

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

Hedge Funds Weigh In On Citi Trends

A number of institutional investors have recently added to or reduced their stakes in CTRN. Quest Partners LLC acquired a new position in Citi Trends during the 3rd quarter worth approximately $40,000. Quantbot Technologies LP increased its position in Citi Trends by 111.3% during the 3rd quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock worth $148,000 after purchasing an additional 4,250 shares in the last quarter. Jane Street Group LLC acquired a new position in Citi Trends during the 3rd quarter worth approximately $193,000. Deerfield Management Company L.P. Series C bought a new stake in Citi Trends during the 2nd quarter worth approximately $208,000. Finally, Rhumbline Advisers grew its holdings in Citi Trends by 41,964.0% during the 2nd quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock worth $224,000 after acquiring an additional 10,491 shares during the last quarter.

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.