Insider Selling: Citi Trends, Inc. (CTRN) VP Sells $127,630.76 in Stock

Citi Trends, Inc. (NASDAQ:CTRN) VP Ivy D. Council sold 4,156 shares of the business’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $30.71, for a total value of $127,630.76. Following the completion of the sale, the vice president now owns 80,984 shares of the company’s stock, valued at $2,487,018.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of CTRN opened at $31.82 on Friday. Citi Trends, Inc. has a one year low of $15.54 and a one year high of $31.92. The company has a market cap of $431.43, a price-to-earnings ratio of 24.92 and a beta of 0.22.

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Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Friday, March 16th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. Citi Trends had a net margin of 1.93% and a return on equity of 8.39%. The business had revenue of $212.14 million during the quarter, compared to the consensus estimate of $211.00 million. During the same period in the previous year, the business earned $0.38 earnings per share. The company’s revenue was up 14.4% on a year-over-year basis. equities research analysts anticipate that Citi Trends, Inc. will post 1.63 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Shareholders of record on Tuesday, March 6th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 5th. This represents a $0.32 annualized dividend and a yield of 1.01%. Citi Trends’s dividend payout ratio is currently 25.40%.

Citi Trends declared that its Board of Directors has initiated a stock repurchase program on Friday, March 16th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Several equities research analysts recently issued reports on CTRN shares. BidaskClub cut Citi Trends from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. MKM Partners upgraded shares of Citi Trends from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $32.00 in a research report on Tuesday, March 20th.

Several large investors have recently made changes to their positions in CTRN. First Trust Advisors LP acquired a new position in shares of Citi Trends during the third quarter worth $216,000. Paloma Partners Management Co acquired a new position in shares of Citi Trends during the fourth quarter worth $216,000. MetLife Investment Advisors LLC acquired a new position in shares of Citi Trends during the fourth quarter worth $226,000. Macquarie Group Ltd. increased its holdings in shares of Citi Trends by 883.9% during the fourth quarter. Macquarie Group Ltd. now owns 9,839 shares of the company’s stock worth $260,000 after buying an additional 8,839 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Citi Trends by 8.0% during the second quarter. The Manufacturers Life Insurance Company now owns 13,014 shares of the company’s stock worth $276,000 after buying an additional 959 shares in the last quarter. Institutional investors own 88.82% of the company’s stock.

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About Citi Trends

Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.

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