Insider Selling: Citi Trends (NASDAQ:CTRN) VP Sells $25,285.00 in Stock

Key Points

• Citi Trends VP Katrina George sold 500 shares for $25,285 at an average price of $50.57, reducing her direct ownership by 8.75% to 5,213 shares.
• Citi Trends recently reported quarterly EPS of $0.05, beating analyst expectations of a $0.32 loss, while revenue of $211.63 million was broadly in line with forecasts.
• The stock traded around $49.59, below its 50-day moving average of $62.86; analysts maintain a “Moderate Buy” consensus with an average price target of $81.00.

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) VP Katrina George sold 500 shares of Citi Trends stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $50.57, for a total value of $25,285.00. Following the sale, the vice president directly owned 5,213 shares in the company, valued at $263,621.41. The trade was a 8.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Citi Trends Stock Performance

Shares of NASDAQ:CTRN traded up $0.74 during midday trading on Tuesday, hitting $49.59. 173,196 shares of the stock were exchanged, compared to its average volume of 138,648. The business's 50-day moving average price is $62.86 and its 200 day moving average price is $55.44. Citi Trends, Inc. has a 12 month low of $34.43 and a 12 month high of $77.91. The stock has a market capitalization of $413.53 million, a price-to-earnings ratio of 60.48 and a beta of 1.81.

Citi Trends (NASDAQ:CTRN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.32) by $0.37. Citi Trends had a net margin of 0.84% and a return on equity of 8.11%. The business had revenue of $211.63 million during the quarter, compared to analyst estimates of $211.60 million.

Hedge Funds Weigh In On Citi Trends

A number of hedge funds have recently made changes to their positions in CTRN. Hsbc Holdings PLC lifted its holdings in Citi Trends by 2.4% in the second quarter. Hsbc Holdings PLC now owns 14,521 shares of the company's stock valued at $828,000 after buying an additional 336 shares during the period. Strs Ohio boosted its position in Citi Trends by 7.1% during the first quarter. Strs Ohio now owns 7,500 shares of the company's stock valued at $325,000 after acquiring an additional 500 shares during the last quarter. Legal & General Group Plc bought a new stake in Citi Trends during the second quarter valued at $30,000. Allworth Financial LP bought a new stake in Citi Trends during the second quarter valued at $31,000. Finally, Meeder Asset Management Inc. grew its holdings in Citi Trends by 40.5% during the 1st quarter. Meeder Asset Management Inc. now owns 2,315 shares of the company's stock worth $100,000 after acquiring an additional 667 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of Citi Trends from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday. DA Davidson set a $81.00 price objective on shares of Citi Trends in a research note on Wednesday, August 26th. Finally, Wall Street Zen cut shares of Citi Trends from a "buy" rating to a "hold" rating in a research note on Saturday, September 12th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Citi Trends presently has a consensus rating of "Moderate Buy" and an average target price of $81.00.

About Citi Trends

Citi Trends, Inc is a value-oriented retailer specializing in fashionable apparel, accessories, footwear and home goods for primarily African American and Latinx families. The company offers merchandise for women, men and children, including casual clothing, seasonal items, jewelry, beauty products, toys and household goods.

Based in Savannah, Georgia, Citi Trends sells its products through a nationwide network of brick-and-mortar stores and its e-commerce platform. Its stores are generally located in urban and value-focused communities across the United States, with merchandise assortments designed to reflect local customer preferences and trends.

The company traces its roots to 1946, when it was established as Allied Department Stores, and adopted the Citi Trends name in 2001.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.