Lisa Powell Sells 10,000 Shares of Citi Trends (NASDAQ:CTRN) Stock

Citi Trends, Inc. (NASDAQ:CTRN) EVP Lisa Powell sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $70.10, for a total transaction of $701,000.00. Following the sale, the executive vice president owned 13,970 shares of the company’s stock, valued at approximately $979,297. This represents a 41.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Citi Trends Stock Performance

Citi Trends stock opened at $66.21 on Thursday. Citi Trends, Inc. has a twelve month low of $29.60 and a twelve month high of $77.91. The firm has a market cap of $551.53 million, a PE ratio of 80.74 and a beta of 1.82. The firm’s 50 day moving average price is $67.09 and its two-hundred day moving average price is $54.41.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, August 25th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.32) by $0.37. Citi Trends had a net margin of 0.84% and a return on equity of 8.25%. The business had revenue of $211.63 million for the quarter, compared to analysts’ expectations of $211.60 million.

Institutional Trading of Citi Trends

Several large investors have recently made changes to their positions in the stock. Legal & General Group Plc bought a new position in shares of Citi Trends in the 2nd quarter valued at approximately $30,000. Allworth Financial LP bought a new stake in Citi Trends during the second quarter worth approximately $31,000. BNP Paribas Financial Markets boosted its position in Citi Trends by 143.3% during the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock worth $33,000 after purchasing an additional 619 shares during the period. New York State Common Retirement Fund grew its holdings in Citi Trends by 175.0% during the fourth quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock valued at $46,000 after purchasing an additional 700 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Citi Trends in the fourth quarter valued at approximately $51,000.

Analysts Set New Price Targets

CTRN has been the subject of a number of recent research reports. DA Davidson set a $81.00 price target on Citi Trends in a research note on Wednesday, August 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Citi Trends in a research report on Wednesday, August 26th. Finally, Wall Street Zen upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Monday, June 29th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.00.

About Citi Trends

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.