Key Points
- Citi Trends VP Katrina George sold 500 shares at an average price of $50.57, reducing her position by 8.75% to 5,213 shares.
- Citi Trends reported quarterly EPS of $0.05, beating the consensus estimate of a $0.32 loss, while revenue of $211.63 million was essentially in line with forecasts.
- Analyst sentiment remains moderately positive, with an average “Moderate Buy” rating and an $81 consensus price target, despite some recent rating changes to “Hold.”
Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) VP Katrina George sold 500 shares of Citi Trends stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $50.57, for a total transaction of $25,285.00. Following the completion of the transaction, the vice president owned 5,213 shares in the company, valued at approximately $263,621.41. This trade represents a 8.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Citi Trends Stock Up 1.5%
Shares of NASDAQ CTRN opened at $49.59 on Wednesday. The stock has a market capitalization of $413.58 million, a PE ratio of 44.41 and a beta of 1.81. The firm has a fifty day moving average of $62.40 and a 200-day moving average of $55.48. Citi Trends, Inc. has a 52-week low of $34.43 and a 52-week high of $77.91.
Citi Trends (NASDAQ:CTRN - Get Free Report) last issued its earnings results on Tuesday, August 25th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.37. The business had revenue of $211.63 million for the quarter, compared to analyst estimates of $211.60 million. Citi Trends had a return on equity of 8.11% and a net margin of 0.84%.
Institutional Investors Weigh In On Citi Trends
Several large investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new stake in shares of Citi Trends in the second quarter valued at about $62,000. Squarepoint Ops LLC lifted its position in Citi Trends by 72.8% during the 2nd quarter. Squarepoint Ops LLC now owns 10,815 shares of the company's stock worth $626,000 after acquiring an additional 4,556 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Citi Trends during the 2nd quarter worth approximately $316,000. Hsbc Holdings PLC boosted its holdings in Citi Trends by 2.4% in the 2nd quarter. Hsbc Holdings PLC now owns 14,521 shares of the company's stock worth $828,000 after acquiring an additional 336 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Citi Trends in the second quarter valued at approximately $635,000.
Analyst Ratings Changes
Several brokerages have commented on CTRN. Wall Street Zen lowered Citi Trends from a "buy" rating to a "hold" rating in a research note on Saturday, September 12th. Weiss Ratings raised Citi Trends from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday. Finally, DA Davidson set a $81.00 target price on Citi Trends in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Citi Trends has an average rating of "Moderate Buy" and a consensus price target of $81.00.
View Our Latest Analysis on CTRN
About Citi Trends
(
Get Free Report)
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.
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