Citi Trends (NASDAQ:CTRN) Hits New 1-Year High at $77.50

Citi Trends, Inc. (NASDAQ:CTRN)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $77.50 and last traded at $77.50, with a volume of 3084 shares changing hands. The stock had previously closed at $75.21.

Separately, Craig Hallum started coverage on Citi Trends in a report on Tuesday. They issued a “buy” rating and a $93.00 target price on the stock.

The business has a 50 day simple moving average of $61.53 and a 200-day simple moving average of $37.69. The stock has a market capitalization of $790.54 million, a price-to-earnings ratio of 53.34 and a beta of 1.64.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data on Tuesday, December 1st. The company reported $0.67 EPS for the quarter. The company had revenue of $199.10 million for the quarter. Citi Trends had a return on equity of 10.32% and a net margin of 2.07%. As a group, equities analysts expect that Citi Trends, Inc. will post 1.91 EPS for the current fiscal year.

In related news, CEO David N. Makuen bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 16th. The shares were acquired at an average cost of $43.85 per share, for a total transaction of $43,850.00. Following the acquisition, the chief executive officer now owns 15,645 shares in the company, valued at approximately $686,033.25. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Charles J. Hynes sold 1,419 shares of the firm’s stock in a transaction dated Wednesday, December 9th. The shares were sold at an average price of $43.51, for a total value of $61,740.69. Following the sale, the vice president now owns 9,844 shares in the company, valued at $428,312.44. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. New York State Teachers Retirement System purchased a new stake in Citi Trends during the 4th quarter worth approximately $40,000. Citigroup Inc. increased its holdings in Citi Trends by 282.8% during the 4th quarter. Citigroup Inc. now owns 1,918 shares of the company’s stock worth $95,000 after purchasing an additional 1,417 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Citi Trends by 498.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,270 shares of the company’s stock worth $57,000 after purchasing an additional 1,891 shares during the last quarter. Garnet Equity Capital Holdings Inc. purchased a new stake in Citi Trends during the 4th quarter worth approximately $235,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Citi Trends during the 4th quarter worth approximately $272,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Citi Trends Company Profile (NASDAQ:CTRN)

Citi Trends, Inc operates as a value-priced retailer of fashion apparel, accessories, and home goods. The company offers apparel, such as fashion sportswear for men and women, as well as children, including newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional bedroom, bathroom, and kitchen products, as well as beauty products and toys.

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