Craig Hallum Reiterates “Hold” Rating for Citi Trends (NASDAQ:CTRN)

Craig Hallum reissued their hold rating on shares of Citi Trends (NASDAQ:CTRNFree Report) in a research report sent to investors on Tuesday morning, MarketBeat reports. Craig Hallum currently has a $27.00 price target on the stock, down from their previous price target of $28.00.

Citi Trends Stock Up 2.3 %

Shares of NASDAQ:CTRN opened at $28.64 on Tuesday. The firm has a fifty day moving average of $29.10 and a two-hundred day moving average of $25.87. The firm has a market capitalization of $244.59 million, a P/E ratio of -19.48 and a beta of 2.39. Citi Trends has a 12-month low of $14.20 and a 12-month high of $32.90.

Insider Activity at Citi Trends

In other Citi Trends news, major shareholder Fund 1 Investments, Llc acquired 70,804 shares of Citi Trends stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average price of $30.51 per share, with a total value of $2,160,230.04. Following the purchase, the insider now owns 1,400,146 shares in the company, valued at $42,718,454.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders acquired 142,938 shares of company stock valued at $4,342,982. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Citi Trends

Several institutional investors and hedge funds have recently modified their holdings of the business. Fund 1 Investments LLC raised its holdings in Citi Trends by 55.6% in the 4th quarter. Fund 1 Investments LLC now owns 1,329,342 shares of the company’s stock worth $37,594,000 after acquiring an additional 474,736 shares during the period. Alliancebernstein L.P. raised its holdings in Citi Trends by 23.9% in the 3rd quarter. Alliancebernstein L.P. now owns 996,785 shares of the company’s stock worth $15,460,000 after acquiring an additional 192,407 shares during the period. Paradigm Capital Management Inc. NY raised its holdings in Citi Trends by 13.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 827,048 shares of the company’s stock worth $14,606,000 after acquiring an additional 97,248 shares during the period. BlackRock Inc. raised its holdings in Citi Trends by 14.1% in the 1st quarter. BlackRock Inc. now owns 691,121 shares of the company’s stock worth $21,165,000 after acquiring an additional 85,495 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Citi Trends by 24.2% in the 1st quarter. Vanguard Group Inc. now owns 636,508 shares of the company’s stock worth $19,493,000 after acquiring an additional 124,010 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

About Citi Trends

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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.

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