Craig Hallum Cuts Citi Trends (NASDAQ:CTRN) Price Target to $14.00

Citi Trends (NASDAQ:CTRN) had its price target lowered by equities researchers at Craig Hallum from $25.00 to $14.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Craig Hallum’s price target would indicate a potential downside of 8.14% from the stock’s previous close.

Separately, Benchmark restated a “buy” rating and issued a $35.00 target price on shares of Citi Trends in a research note on Wednesday, June 5th.

Citi Trends Trading Down 7.2 %

Shares of CTRN stock opened at $15.24 on Wednesday. The firm has a fifty day simple moving average of $18.47 and a 200-day simple moving average of $23.05. The company has a market capitalization of $130.99 million, a PE ratio of -14.11 and a beta of 2.39. Citi Trends has a twelve month low of $14.90 and a twelve month high of $32.90.

Citi Trends (NASDAQ:CTRN) last released its earnings results on Tuesday, June 4th. The company reported ($0.32) EPS for the quarter. The business had revenue of $186.29 million for the quarter. Citi Trends had a negative net margin of 1.16% and a negative return on equity of 4.99%.

Insider Transactions at Citi Trends

In other Citi Trends news, major shareholder Fund 1 Investments, Llc acquired 3,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was acquired at an average price of $20.06 per share, with a total value of $60,180.00. Following the transaction, the insider now directly owns 2,571,986 shares in the company, valued at $51,594,039.16. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder Fund 1 Investments, Llc bought 3,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were bought at an average cost of $20.06 per share, for a total transaction of $60,180.00. Following the completion of the purchase, the insider now owns 2,571,986 shares of the company’s stock, valued at approximately $51,594,039.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kenneth Duane Seipel acquired 135,128 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was purchased at an average price of $19.06 per share, for a total transaction of $2,575,539.68. Following the completion of the transaction, the chief executive officer now owns 319,562 shares in the company, valued at $6,090,851.72. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 484,461 shares of company stock worth $9,890,483. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CTRN. Fund 1 Investments LLC increased its holdings in shares of Citi Trends by 55.6% during the fourth quarter. Fund 1 Investments LLC now owns 1,329,342 shares of the company’s stock valued at $37,594,000 after purchasing an additional 474,736 shares during the period. Dimensional Fund Advisors LP grew its position in 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 buying an additional 37,107 shares in the last quarter. Long Focus Capital Management LLC increased its stake in Citi Trends by 24.9% during the 2nd quarter. Long Focus Capital Management LLC now owns 250,673 shares of the company’s stock valued at $5,329,000 after buying an additional 50,000 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Citi Trends by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 197,815 shares of the company’s stock worth $5,594,000 after buying an additional 4,779 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Citi Trends by 89.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 118,772 shares of the company’s stock worth $3,222,000 after acquiring an additional 56,087 shares during the period.

Citi Trends Company Profile

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.