Long Focus Capital Management LLC Has $5.33 Million Stock Position in Citi Trends, Inc. (NASDAQ:CTRN)

Long Focus Capital Management LLC grew its holdings in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 24.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 250,673 shares of the company's stock after purchasing an additional 50,000 shares during the quarter. Long Focus Capital Management LLC owned approximately 2.92% of Citi Trends worth $5,329,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CTRN. Deerfield Management Company L.P. Series C bought a new position in Citi Trends in the second quarter valued at approximately $208,000. Renaissance Technologies LLC bought a new position in shares of Citi Trends in the 2nd quarter worth $584,000. Dimensional Fund Advisors LP grew its stake in shares of Citi Trends by 6.5% during the second 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 period. Anchor Capital Advisors LLC grew its stake in shares of Citi Trends by 11.3% during the second quarter. Anchor Capital Advisors LLC now owns 52,247 shares of the company's stock worth $1,111,000 after purchasing an additional 5,307 shares during the period. Finally, Rhumbline Advisers increased its holdings in Citi Trends by 41,964.0% in the second quarter. Rhumbline Advisers now owns 10,516 shares of the company's stock valued at $224,000 after purchasing an additional 10,491 shares during the last quarter.

Citi Trends Stock Up 0.2 %

Shares of NASDAQ:CTRN traded up $0.03 during mid-day trading on Friday, reaching $18.50. 150,533 shares of the stock were exchanged, compared to its average volume of 131,427. The company has a market cap of $159.01 million, a P/E ratio of -17.13 and a beta of 2.39. The stock's 50 day simple moving average is $16.59 and its 200-day simple moving average is $20.94. Citi Trends, Inc. has a one year low of $13.65 and a one year high of $32.90.

Citi Trends (NASDAQ:CTRN - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $176.55 million during the quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CTRN shares. DA Davidson reduced their target price on Citi Trends from $33.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, August 28th. Benchmark restated a "buy" rating and issued a $35.00 price target on shares of Citi Trends in a report on Wednesday, June 5th. Craig Hallum reduced their price target 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. Finally, StockNews.com downgraded shares of Citi Trends from a "hold" rating to a "sell" rating in a research report on Thursday, August 29th.

Insiders Place Their Bets

In related news, major shareholder Fund 1 Investments, Llc purchased 4,000 shares of Citi Trends stock in a transaction that occurred on Wednesday, July 3rd. The stock was purchased at an average cost of $19.27 per share, with a total value of $77,080.00. Following the completion of the transaction, the insider now owns 2,565,986 shares of the company's stock, valued at approximately $49,446,550.22. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Heather L. Plutino acquired 3,573 shares of the stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $13.99 per share, for a total transaction of $49,986.27. Following the purchase, the chief financial officer now directly owns 21,316 shares of the company's stock, valued at $298,210.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Fund 1 Investments, Llc bought 4,000 shares of the company's stock in a transaction dated Wednesday, July 3rd. The stock was purchased at an average cost of $19.27 per share, for a total transaction of $77,080.00. Following the completion of the acquisition, the insider now owns 2,565,986 shares in the company, valued at approximately $49,446,550.22. The disclosure for this purchase can be found here. Insiders have acquired 278,699 shares of company stock valued at $5,181,338 in the last three months. 3.80% of the stock is currently owned by corporate insiders.

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.