Fund 1 Investments, Llc Acquires 30,000 Shares of Citi Trends, Inc. (NASDAQ:CTRN) Stock

Citi Trends, Inc. (NASDAQ:CTRN) major shareholder Fund 1 Investments, Llc purchased 30,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $21.47 per share, for a total transaction of $644,100.00. Following the acquisition, the insider now directly owns 1,981,067 shares of the company’s stock, valued at $42,533,508.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 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 Monday, April 29th, Fund 1 Investments, Llc purchased 10,800 shares of Citi Trends stock. The shares were purchased at an average cost of $21.79 per share, for a total transaction of $235,332.00.
• On Friday, April 26th, Fund 1 Investments, Llc purchased 11,300 shares of Citi Trends stock. The shares were purchased at an average cost of $22.20 per share, for a total transaction of $250,860.00.
• On Wednesday, April 24th, Fund 1 Investments, Llc bought 4,800 shares of Citi Trends stock. The stock was bought at an average cost of $22.07 per share, for a total transaction of $105,936.00.
• On Monday, April 22nd, Fund 1 Investments, Llc bought 23,495 shares of Citi Trends stock. The stock was bought at an average cost of $21.74 per share, for a total transaction of $510,781.30.
• On Friday, April 19th, Fund 1 Investments, Llc bought 13,000 shares of Citi Trends stock. The stock was bought at an average cost of $22.15 per share, for a total transaction of $287,950.00.
• On Wednesday, April 17th, Fund 1 Investments, Llc bought 18,090 shares of Citi Trends stock. The stock was bought at an average cost of $22.41 per share, for a total transaction of $405,396.90.
• On Monday, April 15th, Fund 1 Investments, Llc bought 5,136 shares of Citi Trends stock. The stock was bought at an average cost of $22.41 per share, for a total transaction of $115,097.76.
• On Friday, April 12th, Fund 1 Investments, Llc bought 17,000 shares of Citi Trends stock. The stock was bought 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 bought 20,282 shares of Citi Trends stock. The stock was bought 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 purchased 6,000 shares of Citi Trends stock. The shares were acquired at an average cost of $24.35 per share, for a total transaction of $146,100.00.

Citi Trends Price Performance

Shares of Citi Trends stock opened at $22.10 on Friday. Citi Trends, Inc. has a 1 year low of $14.20 and a 1 year high of $32.90. The firm’s 50-day moving average is $26.48 and its two-hundred day moving average is $26.28. The stock has a market cap of $188.73 million, a price-to-earnings ratio of -15.03 and a beta of 2.43.

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

Analysts Set New Price Targets

A number of research firms have weighed in on CTRN. Craig Hallum reiterated a “hold” rating and set a $27.00 price objective (down previously from $28.00) on shares of Citi Trends in a research report on Tuesday, March 19th. Benchmark restated a “buy” rating and issued a $35.00 price target on shares of Citi Trends in a report on Wednesday, March 20th.

Institutional Trading of Citi Trends

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Citi Trends during the third quarter valued at about $1,089,000. Citigroup Inc. raised its position in shares of Citi Trends by 60,229.1% in the 3rd quarter. Citigroup Inc. now owns 33,181 shares of the company’s stock valued at $737,000 after purchasing an additional 33,126 shares during the last quarter. Jennison Associates LLC raised its position in shares of Citi Trends by 47.5% in the 3rd quarter. Jennison Associates LLC now owns 376,278 shares of the company’s stock valued at $8,361,000 after purchasing an additional 121,134 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Citi Trends in the 3rd quarter valued at approximately $1,617,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Citi Trends in the 3rd quarter valued at approximately $229,000.

About Citi Trends

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.