Short Interest in Citi Trends, Inc. (NASDAQ:CTRN) Drops By 19.3%

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) saw a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 790,600 shares, a decline of 19.3% from the December 31st total of 979,100 shares. Based on an average daily volume of 88,000 shares, the days-to-cover ratio is currently 9.0 days. Currently, 10.4% of the shares of the company are short sold.

Insider Buying and Selling at Citi Trends

In related news, Director Jonathan Duskin sold 12,000 shares of the business's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $26.44, for a total transaction of $317,280.00. Following the sale, the director now owns 33,396 shares of the company's stock, valued at approximately $882,990.24. The trade was a 26.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of Citi Trends

A number of institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new stake in shares of Citi Trends in the third quarter worth $40,000. R Squared Ltd acquired a new stake in shares of Citi Trends in the fourth quarter worth $85,000. Quantbot Technologies LP lifted its stake 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 worth $148,000 after buying an additional 4,250 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Citi Trends in the third quarter worth $193,000. Finally, XTX Topco Ltd acquired a new position in Citi Trends during the 3rd quarter valued at $339,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CTRN. StockNews.com lowered shares of Citi Trends from a "hold" rating to a "sell" rating in a research report on Tuesday. DA Davidson upped their price target on shares of Citi Trends from $20.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Craig Hallum upped their price target on shares of Citi Trends from $14.00 to $20.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th.

Citi Trends Stock Performance

Shares of Citi Trends stock traded down $1.35 during trading hours on Wednesday, reaching $23.69. The company's stock had a trading volume of 27,919 shares, compared to its average volume of 69,338. Citi Trends has a one year low of $13.65 and a one year high of $32.90. The company's 50 day simple moving average is $25.43 and its 200 day simple moving average is $20.41. The stock has a market cap of $206.34 million, a P/E ratio of -7.75 and a beta of 2.27.

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

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.