Citi Trends (NASDAQ:CTRN) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $22.82 and traded as high as $23.64. Citi Trends shares last traded at $22.80, with a volume of 48,550 shares changing hands.

Wall Street Analyst Weigh In

CTRN has been the topic of a number of recent analyst reports. Craig Hallum raised shares of Citi Trends from a "hold" rating to a "buy" rating and set a $36.00 price target on the stock in a report on Monday, February 10th. StockNews.com raised Citi Trends from a "sell" rating to a "hold" rating in a research note on Friday, March 28th. Finally, DA Davidson restated a "buy" rating and set a $29.00 price target on shares of Citi Trends in a report on Wednesday, March 19th.

Citi Trends Stock Performance

The firm has a market capitalization of $188.74 million, a PE ratio of -7.43 and a beta of 2.02. The stock's 50-day simple moving average is $21.23 and its 200-day simple moving average is $22.82.

Citi Trends (NASDAQ:CTRN - Get Free Report) last announced its earnings results on Tuesday, March 18th. The company reported ($1.55) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($1.73). Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%. The company had revenue of $211.17 million for the quarter, compared to the consensus estimate of $211.54 million. During the same period in the previous year, the firm posted $0.53 EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new position in Citi Trends in the third quarter worth $193,000. Barclays PLC grew its position in shares of Citi Trends by 19.9% in the 3rd quarter. Barclays PLC now owns 25,953 shares of the company's stock worth $478,000 after buying an additional 4,300 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Citi Trends by 7.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 100,523 shares of the company's stock worth $2,639,000 after acquiring an additional 6,702 shares in the last quarter. R Squared Ltd purchased a new position in Citi Trends during the 4th quarter valued at about $85,000. Finally, Empowered Funds LLC lifted its position in Citi Trends by 5.0% during the 4th quarter. Empowered Funds LLC now owns 25,278 shares of the company's stock valued at $664,000 after acquiring an additional 1,195 shares during the period.

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.

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