Long Focus Capital Management LLC Raises Holdings in Citi Trends, Inc. (NASDAQ:CTRN)

Long Focus Capital Management LLC raised its stake in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 24.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 250,673 shares of the company’s stock after buying an additional 50,000 shares during the quarter. Long Focus Capital Management LLC owned about 2.92% of Citi Trends worth $5,329,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fund 1 Investments LLC increased its position in Citi Trends by 55.6% during the 4th quarter. Fund 1 Investments LLC now owns 1,329,342 shares of the company’s stock worth $37,594,000 after purchasing an additional 474,736 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Citi Trends by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company’s stock valued at $12,938,000 after purchasing an additional 37,107 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Citi Trends during the second quarter worth about $584,000. Rhumbline Advisers lifted its position in Citi Trends by 41,964.0% during the second quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock worth $224,000 after buying an additional 10,491 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new stake in Citi Trends in the 2nd quarter worth about $208,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. DA Davidson cut their price objective on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. StockNews.com lowered shares of Citi Trends from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Benchmark reaffirmed a “buy” rating and issued a $35.00 target price on shares of Citi Trends in a research report on Wednesday, June 5th. Finally, Craig Hallum lowered their price target on Citi Trends from $25.00 to $14.00 and set a “hold” rating for the company in a research report on Wednesday, August 28th.

Citi Trends Price Performance

Shares of NASDAQ CTRN opened at $18.47 on Friday. Citi Trends, Inc. has a 1-year low of $13.65 and a 1-year high of $32.90. The company has a market capitalization of $158.75 million, a price-to-earnings ratio of -17.10 and a beta of 2.39. The business has a 50-day moving average of $16.60 and a 200-day moving average of $21.02.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Tuesday, August 27th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($1.42). The firm had revenue of $176.55 million for the quarter. Citi Trends had a negative net margin of 2.92% and a negative return on equity of 12.62%.

Insider Buying and Selling

In other Citi Trends news, CEO Kenneth Duane Seipel acquired 86,998 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were bought at an average cost of $18.96 per share, for a total transaction of $1,649,482.08. Following the acquisition, the chief executive officer now directly owns 123,916 shares of the company’s stock, valued at $2,349,447.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Fund 1 Investments, Llc bought 15,000 shares of the stock in a transaction dated Monday, July 1st. The stock was bought at an average cost of $20.38 per share, with a total value of $305,700.00. Following the completion of the acquisition, the insider now owns 2,556,986 shares of the company’s stock, valued at $52,111,374.68. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kenneth Duane Seipel purchased 86,998 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were bought at an average price of $18.96 per share, for a total transaction of $1,649,482.08. Following the completion of the transaction, the chief executive officer now directly owns 123,916 shares in the company, valued at approximately $2,349,447.36. The disclosure for this purchase can be found here. Insiders have bought 278,699 shares of company stock valued at $5,181,338 in the last quarter. Company insiders own 3.80% of the company’s stock.

Citi Trends 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.