Insider Selling: Citi Trends (NASDAQ:CTRN) VP Sells 500 Shares of Stock

Citi Trends, Inc. (NASDAQ:CTRN) VP Katrina George sold 500 shares of the company’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $50.57, for a total value of $25,285.00. Following the sale, the vice president owned 5,213 shares in the company, valued at approximately $263,621.41. The trade was a 8.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Citi Trends Trading Up 1.5%

NASDAQ CTRN traded up $0.74 during trading hours on Tuesday, hitting $49.59. 173,196 shares of the company’s stock were exchanged, compared to its average volume of 138,648. The stock has a 50-day simple moving average of $62.86 and a 200 day simple moving average of $55.44. Citi Trends, Inc. has a 1-year low of $34.43 and a 1-year high of $77.91. The firm has a market cap of $413.53 million, a price-to-earnings ratio of 60.48 and a beta of 1.81.

Citi Trends (NASDAQ:CTRN) last issued its earnings results on Tuesday, August 25th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.37. Citi Trends had a return on equity of 8.11% and a net margin of 0.84%. The business had revenue of $211.63 million during the quarter, compared to the consensus estimate of $211.60 million.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CTRN shares. Weiss Ratings upgraded shares of Citi Trends from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. Wall Street Zen downgraded shares of Citi Trends from a “buy” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, DA Davidson set a $81.00 target price on shares of Citi Trends in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Citi Trends has an average rating of “Moderate Buy” and an average price target of $81.00.

Institutional Trading of Citi Trends

Large investors have recently made changes to their positions in the company. Legal & General Group Plc bought a new stake in Citi Trends in the 2nd quarter valued at about $30,000. Allworth Financial LP acquired a new position in Citi Trends during the 2nd quarter worth approximately $31,000. Integrated Wealth Concepts LLC acquired a new position in Citi Trends during the 2nd quarter worth approximately $62,000. State of Wyoming acquired a new position in Citi Trends during the 2nd quarter worth approximately $83,000. Finally, Group One Trading LLC bought a new position in Citi Trends in the second quarter worth approximately $94,000.

About Citi Trends

Citi Trends, Inc is a value-oriented retailer specializing in fashionable apparel, accessories, footwear and home goods for primarily African American and Latinx families. The company offers merchandise for women, men and children, including casual clothing, seasonal items, jewelry, beauty products, toys and household goods.

Based in Savannah, Georgia, Citi Trends sells its products through a nationwide network of brick-and-mortar stores and its e-commerce platform. Its stores are generally located in urban and value-focused communities across the United States, with merchandise assortments designed to reflect local customer preferences and trends.

The company traces its roots to 1946, when it was established as Allied Department Stores, and adopted the Citi Trends name in 2001.