Key Points
- Director Margaret Jenkins sold 2,000 shares of Citi Trends at an average price of $45.91 on April 6 for $91,820, reducing her stake by 12.37% to 14,163 shares (about $650,223).
- Citi Trends beat estimates in the latest quarter with $0.85 EPS versus $0.78 expected and $230.39M revenue versus $227.42M, but profitability remains weak with a 0.64% net margin and −4.85% ROE.
- Analysts are mixed: the stock carries an average "Hold" rating with an average target price of $68, based on two Buy ratings and one Sell.
Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) Director Margaret Jenkins sold 2,000 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $45.91, for a total transaction of $91,820.00. Following the transaction, the director owned 14,163 shares in the company, valued at approximately $650,223.33. The trade was a 12.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Citi Trends Stock Performance
NASDAQ CTRN opened at $42.43 on Wednesday. Citi Trends, Inc. has a one year low of $17.98 and a one year high of $56.78. The company has a market capitalization of $354.29 million, a price-to-earnings ratio of 71.92 and a beta of 2.04. The company's 50-day simple moving average is $45.48 and its two-hundred day simple moving average is $42.00.
Citi Trends (NASDAQ:CTRN - Get Free Report) last announced its quarterly earnings results on Tuesday, March 17th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.07. Citi Trends had a net margin of 0.64% and a negative return on equity of 4.85%. The firm had revenue of $230.39 million during the quarter, compared to analysts' expectations of $227.42 million.
Institutional Trading of Citi Trends
Several large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its stake in shares of Citi Trends by 4.5% in the fourth quarter. Hsbc Holdings PLC now owns 13,589 shares of the company's stock worth $559,000 after purchasing an additional 586 shares during the last quarter. Occudo Quantitative Strategies LP increased its holdings in Citi Trends by 68.7% in the 4th quarter. Occudo Quantitative Strategies LP now owns 17,422 shares of the company's stock worth $724,000 after buying an additional 7,092 shares during the period. Man Group plc increased its holdings in Citi Trends by 68.4% in the 4th quarter. Man Group plc now owns 23,567 shares of the company's stock worth $979,000 after buying an additional 9,571 shares during the period. EVR Research LP purchased a new position in Citi Trends during the 4th quarter worth approximately $1,247,000. Finally, Bridgeway Capital Management LLC raised its position in Citi Trends by 2.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 36,692 shares of the company's stock worth $1,525,000 after buying an additional 800 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. DA Davidson set a $68.00 target price on Citi Trends in a research report on Tuesday, March 17th. Craig Hallum reissued a "buy" rating on shares of Citi Trends in a research report on Wednesday, March 18th. Weiss Ratings restated a "sell (d-)" rating on shares of Citi Trends in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered Citi Trends from a "buy" rating to a "hold" rating in a research note on Monday, December 15th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Citi Trends has an average rating of "Hold" and an average target price of $68.00.
Read Our Latest Analysis on Citi Trends
About Citi Trends
(
Get Free Report)
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.
Further Reading
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