Citi Trends (NASDAQ:CTRN) Stock Price Passes Above 200 Day Moving Average - What's Next?

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.33 and traded as high as $25.27. Citi Trends shares last traded at $24.11, with a volume of 71,125 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTRN. Craig Hallum upgraded shares of Citi Trends from a "hold" rating to a "buy" rating and set a $36.00 target price on the stock in a report on Monday, February 10th. DA Davidson raised their target price 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, StockNews.com upgraded shares of Citi Trends from a "sell" rating to a "hold" rating in a report on Wednesday, February 12th.

Citi Trends Stock Up 3.2 %

The stock has a market cap of $214.53 million, a P/E ratio of -8.02 and a beta of 2.27. The firm's fifty day moving average price is $26.23 and its 200-day moving average price is $21.44.

Citi Trends (NASDAQ:CTRN - Get Free Report) last announced 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%.

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Insider Buying and Selling

In related news, Director Jonathan Duskin sold 12,000 shares of the firm's stock in a transaction on 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 sale, the director now owns 33,396 shares of the company's stock, valued at $882,990.24. This trade represents a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Citi Trends

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Shay Capital LLC lifted its position in Citi Trends by 40.1% during the fourth 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 during the period. Ameriprise Financial Inc. lifted its position in Citi Trends by 0.7% during the fourth quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company's stock valued at $5,221,000 after buying an additional 1,400 shares during the period. Royce & Associates LP lifted its position in Citi Trends by 5.4% during the third quarter. Royce & Associates LP now owns 196,110 shares of the company's stock valued at $3,603,000 after buying an additional 10,000 shares during the period. Geode Capital Management LLC lifted its position in Citi Trends by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 166,558 shares of the company's stock valued at $4,373,000 after buying an additional 3,086 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Citi Trends by 5,400.6% during the fourth quarter. JPMorgan Chase & Co. now owns 152,422 shares of the company's stock valued at $4,001,000 after buying an additional 149,651 shares during the period.

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.