Citi Trends, Inc. (NASDAQ:CTRN) Position Cut by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 15.4% in the 3rd quarter, Holdings Channel reports. The fund owned 163,472 shares of the company’s stock after selling 29,680 shares during the period. Geode Capital Management LLC’s holdings in Citi Trends were worth $3,003,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CTRN. Barclays PLC boosted its stake in Citi Trends by 19.9% during the 3rd quarter. Barclays PLC now owns 25,953 shares of the company’s stock valued at $478,000 after purchasing an additional 4,300 shares during the period. XTX Topco Ltd bought a new stake in shares of Citi Trends during the third quarter valued at approximately $339,000. Jane Street Group LLC acquired a new position in shares of Citi Trends during the third quarter worth approximately $193,000. Quantbot Technologies LP grew its holdings in Citi Trends by 111.3% in 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 in the last quarter. Finally, Quest Partners LLC acquired a new stake in Citi Trends in the 3rd quarter valued at approximately $40,000.

Analyst Ratings Changes

CTRN has been the subject of a number of analyst reports. StockNews.com lowered Citi Trends from a “hold” rating to a “sell” rating in a research report on Friday, December 6th. DA Davidson upped their price objective on shares of Citi Trends from $20.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Craig Hallum raised their target price on shares of Citi Trends from $14.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th.

Citi Trends Stock Performance

Shares of NASDAQ CTRN opened at $26.55 on Tuesday. Citi Trends, Inc. has a 1 year low of $13.65 and a 1 year high of $32.90. The stock has a fifty day moving average price of $22.23 and a two-hundred day moving average price of $19.48. The firm has a market cap of $231.25 million, a P/E ratio of -8.65 and a beta of 2.27.

Insider Activity at Citi Trends

In other Citi Trends news, Director Jonathan Duskin sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were 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 approximately $882,990.24. This represents a 26.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.80% of the company’s stock.

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.