State of Wyoming Takes Position in 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 purchased a new position in shares of Citi Trends, Inc. (NASDAQ:CTRN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,691 shares of the company's stock, valued at approximately $148,000. State of Wyoming owned about 0.08% of Citi Trends at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CTRN. GAMMA Investing LLC bought a new position in Citi Trends in the 1st quarter worth $63,000. Wells Fargo & Company MN boosted its holdings in Citi Trends by 22.8% in 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 period. MetLife Investment Management LLC bought a new position in Citi Trends in the 4th quarter worth $105,000. Occudo Quantitative Strategies LP bought a new position in Citi Trends in the 4th quarter worth $214,000. Finally, Bank of America Corp DE boosted its holdings in Citi Trends by 29.5% in 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 period.

Citi Trends Stock Down 2.2%

CTRN stock traded down $0.77 during mid-day trading on Thursday, hitting $33.77. The company had a trading volume of 93,211 shares, compared to its average volume of 99,827. The company has a market capitalization of $280.09 million, a price-to-earnings ratio of -16.89 and a beta of 2.07. Citi Trends, Inc. has a 12-month low of $14.90 and a 12-month high of $39.37. The company has a 50-day moving average price of $32.39 and a 200 day moving average price of $27.39.

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

Wall Street Analyst Weigh In

CTRN has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Citi Trends from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. DA Davidson upped their target price on shares of Citi Trends from $40.00 to $43.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $39.50.

Insider Activity

In other news, Director Margaret L. Jenkins sold 1,000 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $36.21, for a total transaction of $36,210.00. Following the sale, the director directly owned 16,163 shares in the company, valued at approximately $585,262.23. This represents a 5.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.70% of the company's stock.

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.