Insider Selling: Citi Trends (NASDAQ:CTRN) EVP Sells $701,000.00 in Stock

Key Points

• Citi Trends EVP Lisa Powell sold 10,000 shares at an average price of $70.10, generating $701,000 and reducing her position by 41.72% to 13,970 shares.
• Citi Trends shares were trading at $70.50, near their 52-week high of $77.91, while the company reported quarterly earnings of $0.05 per share—beating estimates by $0.37—and revenue of $211.63 million.
• Analyst sentiment remains moderately bullish, with two Buy ratings and one Hold rating and a consensus price target of $81.00; several institutional investors also increased their holdings.

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) EVP Lisa Powell sold 10,000 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $70.10, for a total transaction of $701,000.00. Following the transaction, the executive vice president owned 13,970 shares of the company's stock, valued at approximately $979,297. The trade was a 41.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Citi Trends Trading Down 0.9%

Shares of NASDAQ:CTRN traded down $0.66 during mid-day trading on Tuesday, reaching $70.50. The company had a trading volume of 130,076 shares, compared to its average volume of 132,062. The firm has a market cap of $587.26 million, a price-to-earnings ratio of 85.98 and a beta of 1.82. The company's 50-day moving average price is $66.64 and its 200-day moving average price is $54.09. Citi Trends, Inc. has a one year low of $29.60 and a one year high of $77.91.

Citi Trends (NASDAQ:CTRN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 25th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.37. The company had revenue of $211.63 million during the quarter, compared to the consensus estimate of $211.60 million. Citi Trends had a return on equity of 8.25% and a net margin of 0.84%.

Hedge Funds Weigh In On Citi Trends

A number of large investors have recently modified their holdings of the company. Hsbc Holdings PLC increased its holdings in shares of Citi Trends by 2.4% in the second quarter. Hsbc Holdings PLC now owns 14,521 shares of the company's stock worth $828,000 after purchasing an additional 336 shares during the period. Bank of America Corp DE grew its position in Citi Trends by 5.8% during the second quarter. Bank of America Corp DE now owns 6,221 shares of the company's stock worth $208,000 after buying an additional 342 shares in the last quarter. State of Wyoming grew its position in Citi Trends by 7.0% during the second quarter. State of Wyoming now owns 7,160 shares of the company's stock worth $239,000 after buying an additional 469 shares in the last quarter. Strs Ohio increased its stake in Citi Trends by 7.1% in the 1st quarter. Strs Ohio now owns 7,500 shares of the company's stock worth $325,000 after acquiring an additional 500 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in Citi Trends in the 2nd quarter worth about $30,000.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CTRN shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Citi Trends in a research note on Wednesday, August 26th. Wall Street Zen raised Citi Trends from a "hold" rating to a "buy" rating in a report on Monday, June 29th. Finally, DA Davidson set a $81.00 price target on Citi Trends in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.00.

About Citi Trends

Citi Trends, Inc NASDAQ: CTRN is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.

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