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

Shares of Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.29 and traded as high as $33.40. Citi Trends shares last traded at $32.96, with a volume of 27,345 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen cut Citi Trends from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. DA Davidson restated a "buy" rating and issued a $29.00 price target on shares of Citi Trends in a research report on Wednesday, March 19th.

Citi Trends Stock Performance

The company has a 50-day simple moving average of $28.36 and a 200-day simple moving average of $25.39. The company has a market cap of $266.61 million, a price-to-earnings ratio of -6.89 and a beta of 1.98.

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

Insiders Place Their Bets

In other Citi Trends news, VP Katrina George sold 750 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was 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 in the company, valued at approximately $208,731. The trade was a 10.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.80% of the company's stock.

Institutional Trading of Citi Trends

A number of institutional investors and hedge funds have recently made changes to their positions in CTRN. Dynamic Technology Lab Private Ltd purchased a new position in Citi Trends in the 1st quarter valued at about $204,000. AWM Investment Company Inc. lifted its position in shares of Citi Trends by 1.6% during the first quarter. AWM Investment Company Inc. now owns 232,477 shares of the company's stock worth $5,146,000 after purchasing an additional 3,694 shares during the last quarter. State of Wyoming bought a new position in shares of Citi Trends during the first quarter worth about $148,000. Hsbc Holdings PLC lifted its position in shares of Citi Trends by 5.0% during the first quarter. Hsbc Holdings PLC now owns 10,328 shares of the company's stock worth $223,000 after purchasing an additional 488 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Citi Trends by 10.5% during the first quarter. American Century Companies Inc. now owns 14,470 shares of the company's stock worth $320,000 after purchasing an additional 1,371 shares during the last quarter.

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.