Short Interest in Citi Trends, Inc. (NASDAQ:CTRN) Declines By 5.8%

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 1,620,000 shares, a drop of 5.8% from the September 15th total of 1,720,000 shares. Based on an average daily volume of 176,400 shares, the days-to-cover ratio is currently 9.2 days. Approximately 20.4% of the shares of the company are short sold.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CTRN shares. Craig Hallum cut their target price on shares of Citi Trends from $25.00 to $14.00 and set a "hold" rating for the company in a report on Wednesday, August 28th. StockNews.com lowered shares of Citi Trends from a "hold" rating to a "sell" rating in a report on Thursday, August 29th. Finally, DA Davidson cut their target price on shares of Citi Trends from $33.00 to $20.00 and set a "buy" rating for the company in a report on Wednesday, August 28th.

Citi Trends Stock Performance

Citi Trends stock traded up $0.47 during trading on Wednesday, reaching $20.12. The company had a trading volume of 98,628 shares, compared to its average volume of 128,532. The firm's 50-day simple moving average is $16.72 and its 200 day simple moving average is $20.01. Citi Trends has a 1-year low of $13.65 and a 1-year high of $32.90. The firm has a market capitalization of $172.93 million, a PE ratio of -18.19 and a beta of 2.40.

Citi Trends (NASDAQ:CTRN - Get Free Report) last released its quarterly earnings results on Tuesday, August 27th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.52) by ($1.42). Citi Trends had a negative net margin of 2.92% and a negative return on equity of 12.62%. The company had revenue of $176.55 million during the quarter.

Insider Activity at Citi Trends

In other Citi Trends news, CEO Kenneth Duane Seipel purchased 25,000 shares of Citi Trends stock in a transaction on Wednesday, August 28th. The stock was bought at an average cost of $14.39 per share, with a total value of $359,750.00. Following the transaction, the chief executive officer now owns 282,139 shares of the company's stock, valued at $4,059,980.21. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Citi Trends news, CEO Kenneth Duane Seipel purchased 25,000 shares of Citi Trends stock in a transaction on Wednesday, August 28th. The stock was bought at an average cost of $14.39 per share, with a total value of $359,750.00. Following the transaction, the chief executive officer now owns 282,139 shares of the company's stock, valued at $4,059,980.21. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Heather L. Plutino purchased 3,573 shares of Citi Trends stock in a transaction on Wednesday, September 4th. The shares were acquired at an average cost of $13.99 per share, with a total value of $49,986.27. Following the completion of the transaction, the chief financial officer now directly owns 21,316 shares in the company, valued at $298,210.84. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 31,573 shares of company stock valued at $455,336 in the last three months. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Citi Trends

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTRN. Exchange Traded Concepts LLC acquired a new stake in Citi Trends during the 3rd quarter worth $1,723,000. Long Focus Capital Management LLC boosted its stake in Citi Trends by 24.9% during the 2nd quarter. Long Focus Capital Management LLC now owns 250,673 shares of the company's stock worth $5,329,000 after purchasing an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Citi Trends by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company's stock worth $12,938,000 after purchasing an additional 37,107 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Citi Trends during the 2nd quarter worth $584,000. Finally, Rhumbline Advisers boosted its stake in Citi Trends by 41,964.0% during the 2nd quarter. Rhumbline Advisers now owns 10,516 shares of the company's stock worth $224,000 after purchasing an additional 10,491 shares during the last quarter.

About Citi Trends

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.