Form 4: Fund 1 Investments, LLC Increases Stake in Citi Trends Inc (CTRN)
SEC Form 4 Filing
Fund 1 Investments, LLC, along with related entities, has increased its holdings in Citi Trends Inc (CTRN) through a series of open market purchases.
Summary
- Fund 1 Investments, LLC, Pleasant Lake Onshore Feeder Fund LP, and Pleasant Lake Partners LLC have reported changes in their beneficial ownership of Citi Trends Inc (CTRN) common stock.
- The transactions involved the purchase of CTRN shares on April 24, 2024, April 25, 2024, and April 26, 2024.
- A total of 4,800 shares were purchased on April 24 at a price of $22.0654 per share.
- On April 25, 9,000 shares were purchased at $21.8059 per share.
- Finally, on April 26, 11,300 shares were acquired at $22.1995 per share.
- Following these transactions, the total number of shares beneficially owned by the reporting entities is 1,889,467.
- The shares are held for the benefit of private investment vehicles, including Pleasant Lake Onshore Feeder Fund, LP, for which Pleasant Lake Partners LLC serves as investment adviser.
- Fund 1 Investments, LLC serves as managing member of PLP, and Jonathan Lennon serves as managing member of Fund 1 Investments, LLC.
- Each reporting person disclaims beneficial ownership of the shares except to the extent of its or his pecuniary interest therein.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine disclosure of stock purchases. The increased investment could be seen as mildly positive, but without further context, it's difficult to gauge the overall impact.
Positives
- The increased investment by Fund 1 Investments, LLC and related entities could be interpreted as a positive signal regarding their confidence in Citi Trends Inc's future prospects.
Industry Context
This filing reflects investment activity in the retail sector, specifically in Citi Trends Inc, a company focused on value-priced merchandise.
Stakeholder Impact
- The increased stake by Fund 1 Investments, LLC could potentially increase shareholder confidence.
Key Dates
| Date | Description |
|---|---|
| 04/24/2024 | Purchase of 4,800 shares of CTRN at $22.0654 per share. |
| 04/25/2024 | Purchase of 9,000 shares of CTRN at $21.8059 per share. |
| 04/26/2024 | Purchase of 11,300 shares of CTRN at $22.1995 per share. |
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