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

Citi Trends, Inc. (NASDAQ:CTRN) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 746,900 shares, a drop of 5.5% from the January 15th total of 790,600 shares. Currently, 9.8% of the company’s stock are sold short. Based on an average daily volume of 97,200 shares, the short-interest ratio is presently 7.7 days.

Citi Trends Stock Performance

CTRN opened at $27.87 on Thursday. Citi Trends has a 52-week low of $13.65 and a 52-week high of $32.90. The stock has a market capitalization of $242.75 million, a PE ratio of -9.08 and a beta of 2.27. The stock’s 50 day moving average price is $26.25 and its 200-day moving average price is $21.02.

Citi Trends (NASDAQ:CTRN) last issued its quarterly 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. DA Davidson raised their target price on Citi Trends from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Craig Hallum raised Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price objective 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.

Insider Buying and Selling

In other Citi Trends news, Director Jonathan Duskin sold 12,000 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $26.44, for a total transaction of $317,280.00. Following the transaction, the director now directly owns 33,396 shares in the company, valued at approximately $882,990.24. This trade represents a 26.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CTRN. Barclays PLC increased its position in Citi Trends by 2.5% in the fourth quarter. Barclays PLC now owns 26,595 shares of the company’s stock worth $699,000 after buying an additional 642 shares in the last quarter. Wells Fargo & Company MN increased its position in Citi Trends by 22.8% in the fourth quarter. Wells Fargo & Company MN now owns 3,745 shares of the company’s stock worth $98,000 after buying an additional 695 shares in the last quarter. Empowered Funds LLC increased its position in Citi Trends by 5.0% in the fourth quarter. Empowered Funds LLC now owns 25,278 shares of the company’s stock worth $664,000 after buying an additional 1,195 shares in the last quarter. Ameriprise Financial Inc. increased its position in Citi Trends by 0.7% in the fourth quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company’s stock worth $5,221,000 after buying an additional 1,400 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Citi Trends by 29.5% in the fourth quarter. Bank of America Corp DE now owns 8,801 shares of the company’s stock worth $231,000 after buying an additional 2,003 shares in the last quarter.

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.