Citi Trends (NASDAQ:CTRN) Stock Rating Lowered by StockNews.com

Citi Trends (NASDAQ:CTRN) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Other equities research analysts have also issued research reports about the company. Craig Hallum lifted their price objective on Citi Trends from $14.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. DA Davidson lifted their target price on shares of Citi Trends from $20.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th.

Citi Trends Stock Down 5.1 %

CTRN opened at $23.77 on Tuesday. Citi Trends has a twelve month low of $13.65 and a twelve month high of $32.90. The company’s 50-day moving average price is $25.51 and its two-hundred day moving average price is $20.43. The stock has a market cap of $207.04 million, a price-to-earnings ratio of -7.74 and a beta of 2.27.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported ($0.78) EPS for the quarter. Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%.

Insider Activity 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 transaction of $317,280.00. Following the sale, the director now directly owns 33,396 shares in the company, valued at $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 available at this link. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Citi Trends

Hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its stake in Citi Trends by 7.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 100,523 shares of the company’s stock worth $2,639,000 after purchasing an additional 6,702 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Citi Trends in the 3rd quarter valued at about $193,000. Barclays PLC boosted its position in shares of 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 acquiring an additional 4,300 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Citi Trends during the second quarter worth about $584,000. Finally, Empowered Funds LLC increased its position in shares of Citi Trends by 5.3% in the third quarter. Empowered Funds LLC now owns 24,083 shares of the company’s stock worth $442,000 after purchasing an additional 1,206 shares during the last quarter.

Citi Trends Company 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.