Citi Trends (NASDAQ:CTRN) Upgraded to Hold at StockNews.com

Citi Trends (NASDAQ:CTRN) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

A number of other research firms have also commented on CTRN. DA Davidson increased their price target on Citi Trends from $20.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Craig Hallum increased their target price on Citi Trends from $14.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th.

Citi Trends Stock Performance

Shares of NASDAQ:CTRN traded down $0.85 on Monday, hitting $26.06. The stock had a trading volume of 73,836 shares, compared to its average volume of 69,715. The firm’s 50 day moving average price is $24.57 and its 200-day moving average price is $20.15. Citi Trends has a twelve month low of $13.65 and a twelve month high of $32.90. The company has a market capitalization of $226.98 million, a price-to-earnings ratio of -8.49 and a beta of 2.27.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.78) earnings per share (EPS) for the quarter. Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%.

Insider Activity

In other Citi Trends news, Director Jonathan Duskin sold 12,000 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $26.44, for a total transaction of $317,280.00. Following the completion of the sale, the director now directly owns 33,396 shares of the company’s stock, valued at approximately $882,990.24. The trade was a 26.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CTRN. Exchange Traded Concepts LLC acquired a new position in Citi Trends in the third quarter valued at approximately $1,723,000. Dimensional Fund Advisors LP raised its position in shares of Citi Trends by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company’s stock valued at $12,938,000 after acquiring an additional 37,107 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Citi Trends in the 2nd quarter valued at $584,000. XTX Topco Ltd bought a new position in shares of Citi Trends in the 3rd quarter worth $339,000. Finally, Jane Street Group LLC bought a new position in shares of Citi Trends in the 3rd quarter worth $193,000.

About Citi Trends

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.