Citi Trends, Inc. (NASDAQ:CTRN) Major Shareholder Fund 1 Investments, Llc Buys 5,136 Shares

Posted by Amy Steele on Apr 18th, 2024

Citi Trends, Inc. (NASDAQ:CTRN – Get Free Report) major shareholder Fund 1 Investments, Llc purchased 5,136 shares of Citi Trends stock in a transaction dated Monday, April 15th. The stock was bought at an average price of $22.41 per share, with a total value of $115,097.76. Following the completion of the purchase, the insider now directly owns 1,768,782 shares of the company’s stock, valued at $39,638,404.62. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

On Wednesday, April 17th, Fund 1 Investments, Llc acquired 18,090 shares of Citi Trends stock. The stock was acquired at an average cost of $22.41 per share, for a total transaction of $405,396.90.
On Friday, April 12th, Fund 1 Investments, Llc acquired 17,000 shares of Citi Trends stock. The stock was acquired at an average cost 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 acquired at an average cost 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 acquired at an average cost 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 acquired at an average cost of $25.19 per share, for a total transaction of $125,950.00.
On Tuesday, April 2nd, Fund 1 Investments, Llc acquired 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 acquired 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 acquired 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.
On Monday, March 18th, Fund 1 Investments, Llc purchased 11,000 shares of Citi Trends stock. The shares were purchased at an average cost of $29.50 per share, for a total transaction of $324,500.00.
On Monday, March 11th, Fund 1 Investments, Llc purchased 15,000 shares of Citi Trends stock. The shares were purchased at an average cost of $30.33 per share, for a total transaction of $454,950.00.

Citi Trends Stock Performance

CTRN stock opened at $22.37 on Thursday. Citi Trends, Inc. has a one year low of $14.20 and a one year high of $32.90. The company’s fifty day moving average price is $28.10 and its 200-day moving average price is $26.37. The company has a market capitalization of $191.04 million, a PE ratio of -15.22 and a beta of 2.37.

Citi Trends (NASDAQ:CTRN – Get Free Report) last released its earnings results on Tuesday, March 19th. The company reported $0.53 EPS for the quarter. Citi Trends had a negative net margin of 1.60% and a negative return on equity of 6.76%. The firm had revenue of $215.18 million for the quarter.

Hedge Funds Weigh In On Citi Trends

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Citi Trends by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 426,834 shares of the company’s stock worth $12,071,000 after buying an additional 1,500 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Citi Trends by 15.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 11,186 shares of the company’s stock worth $316,000 after buying an additional 1,518 shares in the last quarter. Barclays PLC lifted its holdings in shares of Citi Trends by 8.5% in the fourth quarter. Barclays PLC now owns 44,989 shares of the company’s stock worth $1,272,000 after buying an additional 3,508 shares in the last quarter. Fund 1 Investments LLC increased its position in Citi Trends by 55.6% in the fourth quarter. Fund 1 Investments LLC now owns 1,329,342 shares of the company’s stock worth $37,594,000 after purchasing an additional 474,736 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in Citi Trends in the fourth quarter worth $786,000.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTRN. Craig Hallum reaffirmed a “hold” rating and set a $27.00 price target (down previously from $28.00) on shares of Citi Trends in a report on Tuesday, March 19th. Benchmark reaffirmed a “buy” rating and set a $35.00 price target on shares of Citi Trends in a report on Wednesday, March 20th.

Check Out Our Latest Stock Analysis on CTRN

About Citi Trends

(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.