Citi Trends (NASDAQ:CTRN) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Citi Trends, Inc.'s shares have surpassed their 200-day moving average, currently trading at $31.80, with a high of $32.09 on Tuesday.
• Analysts have recently downgraded the stock from a "buy" to a "hold" rating, reflecting concerns over its performance.
• Despite a negative P/E ratio of -6.81, Citi Trends reported positive earnings of $0.17 per share for its last quarter, exceeding expectations.

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.14 and traded as high as $32.09. Citi Trends shares last traded at $31.80, with a volume of 51,037 shares trading hands.

Analyst Upgrades and Downgrades

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

Citi Trends Trading Down 1.9%

The company's 50-day simple moving average is $31.14 and its 200-day simple moving average is $26.24. The stock has a market capitalization of $271.00 million, a price-to-earnings ratio of -7.00 and a beta of 2.05.

Citi Trends (NASDAQ:CTRN - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $195.76 million. During the same period in the prior year, the company posted ($0.32) earnings per share.

Insider Buying and Selling

In other Citi Trends news, VP Katrina George sold 750 shares of the firm's stock in a transaction on 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 sale, the vice president directly owned 6,150 shares in the company, valued at approximately $208,731. This trade represents a 10.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 10.70% of the company's stock.

Institutional Investors Weigh In On Citi Trends

A number of large investors have recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in Citi Trends in the first quarter worth $121,992,000. Shay Capital LLC grew its holdings in Citi Trends by 40.1% in the fourth quarter. Shay Capital LLC now owns 360,000 shares of the company's stock worth $9,450,000 after purchasing an additional 102,958 shares during the period. Royce & Associates LP grew its holdings in Citi Trends by 34.8% in the first quarter. Royce & Associates LP now owns 248,356 shares of the company's stock worth $5,497,000 after purchasing an additional 64,178 shares during the period. AWM Investment Company Inc. grew its holdings in Citi Trends by 1.6% in 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 period. Finally, Ameriprise Financial Inc. grew its holdings in Citi Trends by 0.7% in the fourth quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company's stock worth $5,221,000 after purchasing an additional 1,400 shares during the period.

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.