Citi Trends (NASDAQ:CTRN) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Citi Trends, Inc. (NASDAQ:CTRN) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $21.33 and traded as high as $25.27. Citi Trends shares last traded at $24.11, with a volume of 71,125 shares.

Analyst Ratings Changes

Several analysts have issued reports on CTRN shares. DA Davidson boosted their price target on Citi Trends from $20.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Craig Hallum raised Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Monday, February 10th. Finally, StockNews.com raised Citi Trends from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th.

Citi Trends Price Performance

The firm has a market capitalization of $210.00 million, a PE ratio of -7.85 and a beta of 2.27. The company has a 50-day moving average price of $26.26 and a 200 day moving average price of $21.33.

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

Insiders Place Their Bets

In related news, Director Jonathan Duskin sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $26.44, for a total value of $317,280.00. Following the sale, the director now directly owns 33,396 shares in the company, valued at $882,990.24. The trade was a 26.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Citi Trends

A number of hedge funds and other institutional investors have recently made changes to their positions in CTRN. Quest Partners LLC bought a new stake in shares of Citi Trends in the 3rd quarter worth approximately $40,000. R Squared Ltd acquired a new position in Citi Trends in the 4th quarter valued at approximately $85,000. Wells Fargo & Company MN increased its stake in Citi Trends by 22.8% in the 4th quarter. Wells Fargo & Company MN now owns 3,745 shares of the company’s stock valued at $98,000 after buying an additional 695 shares during the period. MetLife Investment Management LLC bought a new stake in shares of Citi Trends during the 4th quarter worth $105,000. Finally, Quantbot Technologies LP boosted its holdings in shares of Citi Trends by 111.3% during the 3rd quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock worth $148,000 after buying an additional 4,250 shares during the period.

Citi Trends Company Profile

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.