Citi Trends (NASDAQ:CTRN) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Shares of Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.66 and traded as high as $31.99. Citi Trends shares last traded at $31.24, with a volume of 45,433 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Citi Trends from a "buy" rating to a "hold" rating in a report on Saturday, June 14th.

Citi Trends Trading Down 1.4%

The stock has a market capitalization of $248.62 million, a P/E ratio of -6.42 and a beta of 1.98. The firm's fifty day moving average is $30.34 and its 200-day moving average is $25.83.

Citi Trends (NASDAQ:CTRN - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.36. Citi Trends had a negative net margin of 5.06% and a negative return on equity of 27.90%. The company had revenue of $201.73 million during the quarter, compared to the consensus estimate of $195.76 million. During the same period in the previous year, the firm posted ($0.32) earnings per share.

Insider Buying and Selling at Citi Trends

In other Citi Trends news, VP Katrina George sold 750 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $33.94, for a total value of $25,455.00. Following the completion of the transaction, the vice president directly owned 6,150 shares of the company's stock, valued at approximately $208,731. The trade was a 10.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.70% of the company's stock.

Hedge Funds Weigh In On Citi Trends

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Citi Trends by 5,400.6% during the fourth quarter. JPMorgan Chase & Co. now owns 152,422 shares of the company's stock worth $4,001,000 after buying an additional 149,651 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Citi Trends by 130.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 59,991 shares of the company's stock worth $1,575,000 after buying an additional 33,946 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Citi Trends by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 166,558 shares of the company's stock worth $4,373,000 after buying an additional 3,086 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Citi Trends by 22.8% during the fourth quarter. Wells Fargo & Company MN now owns 3,745 shares of the company's stock worth $98,000 after buying an additional 695 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in Citi Trends during the fourth quarter valued at approximately $225,000.

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.