Citi Trends, Inc. (NASDAQ:CTRN) Short Interest Down 19.0% in February

Citi Trends, Inc. (NASDAQ:CTRN) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 567,800 shares, a decrease of 19.0% from the February 13th total of 701,100 shares. Approximately 7.4% of the company’s shares are short sold. Based on an average daily volume of 89,200 shares, the days-to-cover ratio is currently 6.4 days.

Citi Trends Price Performance

NASDAQ:CTRN traded up $0.62 on Tuesday, hitting $22.16. 150,150 shares of the company’s stock were exchanged, compared to its average volume of 123,975. The firm has a 50-day moving average price of $25.29 and a 200-day moving average price of $22.07. Citi Trends has a 52 week low of $13.66 and a 52 week high of $29.50. The company has a market cap of $193.01 million, a P/E ratio of -7.22 and a beta of 2.29.

Insider Buying and Selling at Citi Trends

In other news, Director Jonathan Duskin sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $26.44, for a total value of $317,280.00. Following the completion of the sale, the director now directly owns 33,396 shares of the company’s stock, valued at $882,990.24. This represents a 26.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Two Sigma Advisers LP boosted its holdings in shares of Citi Trends by 10.6% in the 4th quarter. Two Sigma Advisers LP now owns 99,000 shares of the company’s stock valued at $2,599,000 after buying an additional 9,500 shares during the last quarter. Shay Capital LLC lifted its stake in Citi Trends by 40.1% in the fourth quarter. Shay Capital LLC now owns 360,000 shares of the company’s stock valued at $9,450,000 after acquiring an additional 102,958 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Citi Trends in the 4th quarter valued at about $214,000. Millennium Management LLC acquired a new position in shares of Citi Trends during the 4th quarter worth about $235,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Citi Trends by 10.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 82,419 shares of the company’s stock valued at $2,163,000 after purchasing an additional 7,931 shares during the period.

Wall Street Analysts Forecast Growth

CTRN has been the subject of a number of research reports. DA Davidson increased their target price on Citi Trends from $20.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Craig Hallum raised 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, February 10th. Finally, StockNews.com upgraded Citi Trends from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th.

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.