Citi Trends (NASDAQ:CTRN) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Citi Trends (NASDAQ:CTRN) from a sell rating to a hold rating in a report issued on Thursday.

A number of other research analysts have also recently commented on the company. DA Davidson dropped their price target on Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Craig Hallum cut their price target on Citi Trends from $25.00 to $14.00 and set a “hold” rating on the stock in a research note on Wednesday, August 28th.

Citi Trends Price Performance

Shares of NASDAQ:CTRN opened at $19.95 on Thursday. Citi Trends has a one year low of $13.65 and a one year high of $32.90. The company has a market cap of $171.97 million, a price-to-earnings ratio of -7.44 and a beta of 2.40. The firm has a 50 day simple moving average of $18.97 and a 200 day simple moving average of $19.02.

Insider Transactions at Citi Trends

In related news, CFO Heather L. Plutino purchased 3,573 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $13.99 per share, with a total value of $49,986.27. Following the completion of the purchase, the chief financial officer now owns 21,316 shares in the company, valued at approximately $298,210.84. This represents a 20.14 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 3.80% of the stock is owned by company insiders.

Institutional Trading of Citi Trends

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in Citi Trends by 19.9% during the 3rd quarter. Barclays PLC now owns 25,953 shares of the company’s stock worth $478,000 after purchasing an additional 4,300 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Citi Trends during the third quarter worth $339,000. Jane Street Group LLC bought a new position in Citi Trends during the third quarter worth $193,000. Quantbot Technologies LP lifted its holdings in Citi Trends by 111.3% in the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after buying an additional 4,250 shares during the period. Finally, Quest Partners LLC bought a new stake in Citi Trends during the third quarter valued at $40,000.

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.