Citi Trends, Inc. (NASDAQ:CTRN) Short Interest Update

Citi Trends, Inc. (NASDAQ:CTRN) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,320,000 shares, an increase of 5.6% from the May 15th total of 1,250,000 shares. Based on an average daily trading volume, of 103,400 shares, the days-to-cover ratio is currently 12.8 days. Currently, 16.2% of the shares of the company are sold short.

Citi Trends Trading Down 0.8 %

Shares of NASDAQ CTRN traded down $0.17 during mid-day trading on Tuesday, hitting $21.82. 54,311 shares of the company traded hands, compared to its average volume of 87,608. The business has a 50 day moving average of $22.84 and a two-hundred day moving average of $26.04. Citi Trends has a 1 year low of $16.19 and a 1 year high of $32.90.

Citi Trends (NASDAQ:CTRN) last announced its earnings results on Tuesday, March 19th. The company reported $0.53 EPS for the quarter. The company had revenue of $215.18 million during the quarter. Citi Trends had a negative net margin of 1.16% and a negative return on equity of 4.99%.

Wall Street Analyst Weigh In

CTRN has been the topic of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $35.00 price target on shares of Citi Trends in a report on Wednesday, June 5th. Craig Hallum dropped their target price on Citi Trends from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Wednesday, June 5th.

Insider Transactions at Citi Trends

In other Citi Trends news, major shareholder Fund 1 Investments, Llc bought 49,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $21.58 per share, with a total value of $1,057,420.00. Following the completion of the acquisition, the insider now directly owns 2,309,296 shares of the company’s stock, valued at approximately $49,834,607.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have acquired 393,626 shares of company stock worth $9,007,447. 3.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Citi Trends

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Citi Trends during the 1st quarter valued at about $139,000. Jump Financial LLC acquired a new stake in shares of Citi Trends during the fourth quarter worth approximately $223,000. Hsbc Holdings PLC acquired a new position in Citi Trends in the 3rd quarter valued at approximately $229,000. Ancora Advisors LLC purchased a new stake in Citi Trends in the 3rd quarter worth approximately $280,000. Finally, Empowered Funds LLC boosted its stake in shares of Citi Trends by 8.0% during the 1st quarter. Empowered Funds LLC now owns 21,257 shares of the company’s stock valued at $577,000 after buying an additional 1,575 shares during the period.

About Citi Trends

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. It 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.