Citi Trends (NASDAQ:CTRN) PT Lowered to $20.00 at DA Davidson

Citi Trends (NASDAQ:CTRN) had its price objective trimmed by DA Davidson from $33.00 to $20.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

CTRN has been the subject of several other research reports. Craig Hallum lowered their price objective on shares of Citi Trends from $25.00 to $14.00 and set a hold rating for the company in a research report on Wednesday. Benchmark reaffirmed a buy rating and issued a $35.00 price objective on shares of Citi Trends in a research report on Wednesday, June 5th.

Citi Trends Stock Down 1.2 %

NASDAQ:CTRN opened at $14.30 on Wednesday. The stock has a market cap of $122.91 million, a PE ratio of -13.24 and a beta of 2.39. Citi Trends has a fifty-two week low of $13.98 and a fifty-two week high of $32.90. The firm’s fifty day simple moving average is $18.03 and its 200-day simple moving average is $22.82.

Citi Trends (NASDAQ:CTRN) last released its earnings results on Tuesday, August 27th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($1.42). Citi Trends had a negative net margin of 1.16% and a negative return on equity of 4.99%. The firm had revenue of $176.55 million during the quarter.

Insider Buying and Selling at Citi Trends

In related news, major shareholder Fund 1 Investments, Llc acquired 46,500 shares of the business’s stock in a transaction on Friday, June 7th. The shares were purchased at an average price of $22.59 per share, for a total transaction of $1,050,435.00. Following the acquisition, the insider now owns 2,205,862 shares in the company, valued at $49,830,422.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Fund 1 Investments, Llc purchased 46,500 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average price of $22.59 per share, with a total value of $1,050,435.00. Following the purchase, the insider now owns 2,205,862 shares in the company, valued at approximately $49,830,422.58. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kenneth Duane Seipel bought 135,128 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were bought at an average cost of $19.06 per share, with a total value of $2,575,539.68. Following the transaction, the chief executive officer now directly owns 319,562 shares of the company’s stock, valued at $6,090,851.72. The disclosure for this purchase can be found here. In the last three months, insiders acquired 510,961 shares of company stock valued at $10,273,948. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Citi Trends in the first quarter valued at $139,000. Deerfield Management Company L.P. Series C bought a new position in Citi Trends during the second quarter worth about $208,000. Jump Financial LLC bought a new position in Citi Trends during the fourth quarter worth about $223,000. Rhumbline Advisers raised its position in shares of 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 purchasing an additional 10,491 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Citi Trends by 8.0% during the first quarter. Empowered Funds LLC now owns 21,257 shares of the company’s stock worth $577,000 after purchasing an additional 1,575 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.