Citi Trends, Inc. (NASDAQ:CTRN) Short Interest Down 5.5% in January

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 746,900 shares, a decline of 5.5% from the January 15th total of 790,600 shares. Currently, 9.8% of the shares of the company are sold short. Based on an average daily volume of 97,200 shares, the short-interest ratio is presently 7.7 days.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CTRN. DA Davidson boosted their price objective on Citi Trends from $20.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Craig Hallum raised shares of 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. Finally, StockNews.com upgraded shares of Citi Trends from a "sell" rating to a "hold" rating in a research report on Wednesday, February 12th.

Insider Activity at Citi Trends

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 completion of the transaction, the director now owns 33,396 shares in the company, valued at $882,990.24. The trade was a 26.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Citi Trends

A number of hedge funds have recently modified their holdings of the business. Quest Partners LLC acquired a new position in Citi Trends during the third quarter worth about $40,000. R Squared Ltd purchased a new position in Citi Trends in the 4th quarter worth approximately $85,000. Wells Fargo & Company MN boosted its holdings in shares of Citi Trends by 22.8% during the 4th quarter. Wells Fargo & Company MN now owns 3,745 shares of the company's stock worth $98,000 after purchasing an additional 695 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Citi Trends in the fourth quarter valued at approximately $105,000. Finally, Quantbot Technologies LP increased its holdings in shares of Citi Trends by 111.3% in the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company's stock valued at $148,000 after purchasing an additional 4,250 shares during the last quarter.

Citi Trends Trading Down 4.8 %

NASDAQ:CTRN traded down $1.28 during trading hours on Friday, hitting $25.43. 76,257 shares of the stock were exchanged, compared to its average volume of 80,090. The company has a market cap of $221.49 million, a P/E ratio of -8.28 and a beta of 2.27. The firm's fifty day moving average price is $26.31 and its 200 day moving average price is $21.12. Citi Trends has a 52-week low of $13.65 and a 52-week high of $32.90.

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

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.