Citi Trends (NASDAQ:CTRN) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Citi Trends, Inc. (NASDAQ:CTRN)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $28.43 and traded as high as $32.67. Citi Trends shares last traded at $32.51, with a volume of 109,859 shares trading hands.

Analyst Ratings Changes

Several brokerages have weighed in on CTRN. Wall Street Zen lowered Citi Trends from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Citi Trends in a research report on Saturday, September 27th. Finally, DA Davidson upped their target price on Citi Trends from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Citi Trends currently has a consensus rating of “Hold” and a consensus target price of $39.50.

Citi Trends Trading Up 1.7%

The firm has a market cap of $270.16 million, a price-to-earnings ratio of -16.26 and a beta of 2.19. The stock has a fifty day moving average price of $32.82 and a 200 day moving average price of $28.43.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Tuesday, August 26th. The company reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.19. The business had revenue of $190.75 million for the quarter, compared to analyst estimates of $188.20 million. Citi Trends had a negative return on equity of 21.25% and a negative net margin of 2.13%.

Insiders Place Their Bets

In related news, Director Margaret L. Jenkins sold 1,000 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $36.21, for a total transaction of $36,210.00. Following the completion of the sale, the director owned 16,163 shares in the company, valued at $585,262.23. This represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.70% of the stock is currently owned by insiders.

Institutional Trading of Citi Trends

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new stake in Citi Trends during the 1st quarter valued at approximately $63,000. State of Wyoming bought a new stake in shares of Citi Trends in the 1st quarter worth approximately $148,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Citi Trends in the 1st quarter worth approximately $204,000. Bank of America Corp DE lifted its position in shares of Citi Trends by 5.8% in the 2nd quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock worth $208,000 after acquiring an additional 342 shares during the period. Finally, Hsbc Holdings PLC lifted its position in shares of Citi Trends by 5.0% in the 1st quarter. Hsbc Holdings PLC now owns 10,328 shares of the company’s stock worth $223,000 after acquiring an additional 488 shares during the period.

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.