Citi Trends, Inc. (NASDAQ:CTRN) Short Interest Update

Citi Trends, Inc. (NASDAQ:CTRN) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 1,620,000 shares, a drop of 5.8% from the September 15th total of 1,720,000 shares. Based on an average daily trading volume, of 176,400 shares, the days-to-cover ratio is currently 9.2 days. Approximately 20.4% of the shares of the company are sold short.

Insider Activity

In other Citi Trends news, CEO Kenneth Duane Seipel purchased 25,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were acquired at an average cost of $14.39 per share, with a total value of $359,750.00. Following the completion of the transaction, the chief executive officer now owns 282,139 shares in the company, valued at $4,059,980.21. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Heather L. Plutino bought 3,573 shares of Citi Trends stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $13.99 per share, with a total value of $49,986.27. Following the acquisition, the chief financial officer now owns 21,316 shares in the company, valued at $298,210.84. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kenneth Duane Seipel purchased 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was bought at an average cost of $14.39 per share, with a total value of $359,750.00. Following the purchase, the chief executive officer now owns 282,139 shares of the company’s stock, valued at $4,059,980.21. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 31,573 shares of company stock valued at $455,336. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Citi Trends

Several large investors have recently modified their holdings of the business. Exchange Traded Concepts LLC bought a new stake in Citi Trends in the third quarter valued at approximately $1,723,000. Long Focus Capital Management LLC lifted its position in shares of Citi Trends by 24.9% in the 2nd quarter. Long Focus Capital Management LLC now owns 250,673 shares of the company’s stock worth $5,329,000 after purchasing an additional 50,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Citi Trends by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company’s stock valued at $12,938,000 after purchasing an additional 37,107 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Citi Trends during the second quarter worth $584,000. Finally, Rhumbline Advisers raised its stake in Citi Trends by 41,964.0% during the second quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock worth $224,000 after buying an additional 10,491 shares during the last quarter.

Citi Trends Stock Down 0.7 %

Shares of NASDAQ CTRN traded down $0.14 during midday trading on Thursday, reaching $19.98. 9,144 shares of the company were exchanged, compared to its average volume of 127,938. Citi Trends has a one year low of $13.65 and a one year high of $32.90. The stock has a market cap of $171.73 million, a P/E ratio of -18.63 and a beta of 2.40. The stock’s 50-day moving average price is $16.81 and its 200-day moving average price is $20.01.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Tuesday, August 27th. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($1.42). The firm had revenue of $176.55 million for the quarter. Citi Trends had a negative return on equity of 12.62% and a negative net margin of 2.92%.

Wall Street Analyst Weigh In

Several equities analysts have commented on CTRN shares. DA Davidson decreased their target price on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. StockNews.com cut Citi Trends from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Finally, Craig Hallum decreased their target price on Citi Trends from $25.00 to $14.00 and set a “hold” rating on the stock in a research report on Wednesday, August 28th.

Citi Trends Company Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company 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.