State of Wyoming Acquires Shares of 6,691 Citi Trends, Inc. $CTRN

Key Points

• The State of Wyoming recently acquired a stake in Citi Trends, purchasing 6,691 shares valued at approximately $148,000, representing 0.08% ownership in the company.
• Insider trading activity includes Director Margaret L. Jenkins selling 1,000 shares for about $36,210, reducing her stake by 5.83%.
• Analyst ratings show mixed sentiment; while DA Davidson raised the target price to $43.00, Wall Street Zen downgraded the stock from "buy" to "hold".

State of Wyoming bought a new stake in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,691 shares of the company's stock, valued at approximately $148,000. State of Wyoming owned 0.08% of Citi Trends at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC purchased a new position in Citi Trends in the fourth quarter valued at $235,000. Bank of America Corp DE lifted its holdings in Citi Trends by 29.5% during the 4th quarter. Bank of America Corp DE now owns 8,801 shares of the company's stock worth $231,000 after buying an additional 2,003 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Citi Trends by 0.7% during the 4th quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company's stock worth $5,221,000 after buying an additional 1,400 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Citi Trends during the 1st quarter worth about $63,000. Finally, Wells Fargo & Company MN lifted its holdings in Citi Trends by 22.8% during the 4th 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.

Citi Trends Trading Up 0.1%

Shares of Citi Trends stock traded up $0.05 on Wednesday, hitting $35.22. The stock had a trading volume of 34,926 shares, compared to its average volume of 88,786. Citi Trends, Inc. has a 52-week low of $14.01 and a 52-week high of $39.37. The stock has a market cap of $291.97 million, a price-to-earnings ratio of -17.60 and a beta of 2.07. The company's 50 day moving average price is $32.34 and its 200 day moving average price is $27.28.

Citi Trends (NASDAQ:CTRN - Get Free Report) last posted its earnings results on Tuesday, August 26th. The company reported ($0.82) earnings per share for the quarter, beating the consensus estimate of ($1.01) by $0.19. Citi Trends had a negative return on equity of 21.07% and a negative net margin of 2.13%.The business had revenue of $190.75 million during the quarter, compared to the consensus estimate of $188.20 million.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. DA Davidson lifted their price target on Citi Trends from $40.00 to $43.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Wall Street Zen downgraded Citi Trends from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $39.50.

Insider Buying and Selling

In other Citi Trends news, Director Margaret L. Jenkins sold 1,000 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $36.21, for a total transaction of $36,210.00. Following the completion of the sale, the director directly owned 16,163 shares of the company's stock, valued at $585,262.23. This represents a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is currently owned by corporate insiders.

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.