Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Fund 1 Investments, Llc Acquires 23,495 Shares

Posted by James Quigley on Apr 25th, 2024

Citi Trends, Inc. (NASDAQ:CTRN – Get Free Report) major shareholder Fund 1 Investments, Llc purchased 23,495 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were purchased at an average price of $21.74 per share, for a total transaction of $510,781.30. Following the completion of the purchase, the insider now directly owns 1,835,367 shares of the company’s stock, valued at $39,900,878.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Fund 1 Investments, Llc also recently made the following trade(s):

On Friday, April 19th, Fund 1 Investments, Llc acquired 13,000 shares of Citi Trends stock. The stock was bought at an average price of $22.15 per share, for a total transaction of $287,950.00.
On Wednesday, April 17th, Fund 1 Investments, Llc acquired 18,090 shares of Citi Trends stock. The stock was bought at an average price of $22.41 per share, for a total transaction of $405,396.90.
On Monday, April 15th, Fund 1 Investments, Llc acquired 5,136 shares of Citi Trends stock. The stock was bought at an average price of $22.41 per share, for a total transaction of $115,097.76.
On Friday, April 12th, Fund 1 Investments, Llc acquired 17,000 shares of Citi Trends stock. The stock was bought at an average price of $22.74 per share, for a total transaction of $386,580.00.
On Wednesday, April 10th, Fund 1 Investments, Llc acquired 20,282 shares of Citi Trends stock. The stock was bought at an average price of $23.12 per share, for a total transaction of $468,919.84.
On Monday, April 8th, Fund 1 Investments, Llc acquired 6,000 shares of Citi Trends stock. The stock was bought at an average price of $24.35 per share, for a total transaction of $146,100.00.
On Thursday, April 4th, Fund 1 Investments, Llc acquired 5,000 shares of Citi Trends stock. The stock was bought at an average price of $25.19 per share, for a total transaction of $125,950.00.
On Tuesday, April 2nd, Fund 1 Investments, Llc bought 2,000 shares of Citi Trends stock. The stock was acquired at an average cost of $26.92 per share, for a total transaction of $53,840.00.
On Thursday, March 28th, Fund 1 Investments, Llc bought 16,000 shares of Citi Trends stock. The stock was acquired at an average cost of $27.12 per share, for a total transaction of $433,920.00.
On Wednesday, March 20th, Fund 1 Investments, Llc bought 14,500 shares of Citi Trends stock. The stock was acquired at an average cost of $28.69 per share, for a total transaction of $416,005.00.

Citi Trends Stock Performance

Shares of CTRN stock opened at $22.06 on Thursday. The stock’s 50-day moving average is $27.54 and its two-hundred day moving average is $26.40. The firm has a market cap of $188.39 million, a price-to-earnings ratio of -15.00 and a beta of 2.37. Citi Trends, Inc. has a 1 year low of $14.20 and a 1 year high of $32.90.

Citi Trends (NASDAQ:CTRN – Get Free Report) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.53 earnings per share (EPS) for the quarter. The company had revenue of $215.18 million for the quarter. Citi Trends had a negative return on equity of 6.74% and a negative net margin of 1.60%.

Hedge Funds Weigh In On Citi Trends

Several hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Citi Trends by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 197,815 shares of the company’s stock worth $5,594,000 after purchasing an additional 4,779 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Citi Trends during the fourth quarter worth about $223,000. AWM Investment Company Inc. boosted its stake in shares of Citi Trends by 3.4% during the third quarter. AWM Investment Company Inc. now owns 265,768 shares of the company’s stock worth $5,905,000 after buying an additional 8,660 shares during the period. Franklin Resources Inc. boosted its stake in shares of Citi Trends by 22.1% during the fourth quarter. Franklin Resources Inc. now owns 50,197 shares of the company’s stock worth $1,420,000 after buying an additional 9,074 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in shares of Citi Trends during the third quarter worth about $229,000.

Analysts Set New Price Targets

Several research firms recently commented on CTRN. Craig Hallum reissued a “hold” rating and issued a $27.00 target price (down previously from $28.00) on shares of Citi Trends in a report on Tuesday, March 19th. Benchmark reissued a “buy” rating and issued a $35.00 target price on shares of Citi Trends in a report on Wednesday, March 20th.

Check Out Our Latest Stock Analysis on CTRN

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.