Short Interest in Citi Trends, Inc. (NASDAQ:CTRN) Decreases By 19.0%

Citi Trends, Inc. (NASDAQ:CTRN) was the recipient of a significant decrease in short interest in 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. Based on an average daily trading volume, of 89,200 shares, the short-interest ratio is currently 6.4 days. Approximately 7.4% of the company’s stock are sold short.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTRN. StockNews.com upgraded shares of Citi Trends from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. DA Davidson restated a “buy” rating and set a $29.00 price objective on shares of Citi Trends in a research report on Wednesday. Finally, 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, February 10th.

Insider Transactions at Citi Trends

In other news, Director Jonathan Duskin sold 12,000 shares of the company’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 transaction, the director now owns 33,396 shares in the company, valued at approximately $882,990.24. This represents a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.80% of the company’s stock.

Institutional Trading of Citi Trends

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Advisers LP increased its holdings in Citi Trends by 10.6% during the fourth 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 increased its holdings in Citi Trends by 40.1% during the fourth quarter. Shay Capital LLC now owns 360,000 shares of the company’s stock valued at $9,450,000 after buying an additional 102,958 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in Citi Trends during the fourth quarter valued at approximately $214,000. Millennium Management LLC purchased a new stake in Citi Trends during the fourth quarter valued at approximately $235,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in Citi Trends by 10.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 82,419 shares of the company’s stock valued at $2,163,000 after buying an additional 7,931 shares during the last quarter.

Citi Trends Price Performance

Citi Trends stock traded down $0.82 during midday trading on Wednesday, reaching $21.34. 55,732 shares of the company traded hands, compared to its average volume of 123,754. The firm has a market capitalization of $185.87 million, a price-to-earnings ratio of -6.95 and a beta of 2.29. The business has a 50 day moving average of $25.29 and a two-hundred day moving average of $22.07. Citi Trends has a 12 month low of $13.66 and a 12 month high of $29.50.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($1.55) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($1.73). Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%. The company had revenue of $211.17 million for the quarter, compared to the consensus estimate of $211.54 million. During the same quarter last year, the company earned $0.53 EPS.

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.