Citi Trends (NASDAQ:CTRN) Raised to “Hold” at StockNews.com

Citi Trends (NASDAQ:CTRN) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

Several other research analysts have also recently weighed in on the stock. Craig Hallum upgraded shares of Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Monday. DA Davidson upped their price objective on shares of Citi Trends from $20.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th.

Citi Trends Stock Up 2.3 %

Shares of CTRN opened at $27.90 on Wednesday. The business’s 50-day moving average price is $25.92 and its 200-day moving average price is $20.68. Citi Trends has a twelve month low of $13.65 and a twelve month high of $32.90. The stock has a market cap of $243.01 million, a PE ratio of -9.09 and a beta of 2.27.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.78) earnings per share for the quarter. Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%.

Insider Buying and Selling at Citi Trends

In other Citi Trends news, Director Jonathan Duskin sold 12,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $26.44, for a total transaction of $317,280.00. Following the transaction, the director now directly owns 33,396 shares in the company, valued at $882,990.24. This trade represents a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CTRN. JPMorgan Chase & Co. grew its position in Citi Trends by 5,400.6% during the fourth quarter. JPMorgan Chase & Co. now owns 152,422 shares of the company’s stock valued at $4,001,000 after acquiring an additional 149,651 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Citi Trends during the third quarter valued at approximately $1,723,000. Arrowstreet Capital Limited Partnership grew its position in Citi Trends by 130.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 59,991 shares of the company’s stock valued at $1,575,000 after acquiring an additional 33,946 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Citi Trends by 157.3% during the fourth quarter. Rhumbline Advisers now owns 31,089 shares of the company’s stock valued at $816,000 after purchasing an additional 19,005 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Citi Trends during the third quarter valued at approximately $339,000.

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.