Citi Trends, Inc. (NASDAQ:CTRN) Sees Significant Decrease in Short Interest

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) was the recipient of a large drop in short interest in February. As of February 28th, there was short interest totalling 567,800 shares, a drop of 19.0% from the February 13th total of 701,100 shares. Currently, 7.4% of the company's shares are short sold. Based on an average daily volume of 89,200 shares, the days-to-cover ratio is currently 6.4 days.

Insider Buying and Selling

In related news, Director Jonathan Duskin sold 12,000 shares of Citi Trends stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $26.44, for a total value of $317,280.00. Following the transaction, the director now owns 33,396 shares of the company's stock, valued at approximately $882,990.24. This trade represents a 26.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Citi Trends

Several large investors have recently made changes to their positions in the company. Two Sigma Advisers LP grew its stake in shares of Citi Trends by 10.6% in the 4th quarter. Two Sigma Advisers LP now owns 99,000 shares of the company's stock valued at $2,599,000 after buying an additional 9,500 shares in the last quarter. Shay Capital LLC grew its stake in shares of Citi Trends by 40.1% in the 4th quarter. Shay Capital LLC now owns 360,000 shares of the company's stock valued at $9,450,000 after buying an additional 102,958 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of Citi Trends in the 4th quarter valued at approximately $214,000. Millennium Management LLC bought a new stake in shares of Citi Trends in the 4th quarter valued at approximately $235,000. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of Citi Trends by 10.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 82,419 shares of the company's stock valued at $2,163,000 after buying an additional 7,931 shares in the last quarter.

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Analysts Set New Price Targets

A number of equities analysts recently weighed in on CTRN shares. Craig Hallum raised Citi Trends from a "hold" rating to a "buy" rating and set a $36.00 price target on the stock in a research note on Monday, February 10th. DA Davidson reissued a "buy" rating and issued a $29.00 price target on shares of Citi Trends in a research note on Wednesday. Finally, StockNews.com cut Citi Trends from a "hold" rating to a "sell" rating in a research note on Thursday.

Citi Trends Trading Up 4.7 %

NASDAQ:CTRN traded up $0.94 on Friday, hitting $21.05. 291,411 shares of the company's stock traded hands, compared to its average volume of 122,943. Citi Trends has a 1 year low of $13.66 and a 1 year high of $29.41. The firm has a 50-day moving average price of $24.96 and a 200-day moving average price of $22.09. The company has a market cap of $183.35 million, a PE ratio of -6.86 and a beta of 2.29.

Citi Trends (NASDAQ:CTRN - Get Free Report) last released its earnings results on Tuesday, March 18th. The company reported ($1.55) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($1.73). Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%. The business had revenue of $211.17 million for the quarter, compared to analysts' expectations of $211.54 million. During the same period last year, the firm earned $0.53 EPS.

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.