Form 4: Fund 1 Investments, LLC Increases Stake in Citi Trends Inc (CTRN)
SEC Form 4
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 29, 2024, April 30, 2024, and May 1, 2024.
- A total of 10,800 shares were purchased on April 29, 2024 at a price of $21.7876 per share.
- A total of 50,800 shares were purchased on April 30, 2024 at a price of $21.4122 per share.
- A total of 30,000 shares were purchased on May 1, 2024 at a price of $21.4719 per share.
- Following these transactions, the reporting persons collectively beneficially own 1,981,067 shares of CTRN common stock indirectly.
- 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, and Fund 1 Investments, LLC serves as managing member of PLP.
- Jonathan Lennon serves as managing member of Fund 1 Investments, LLC.
Sentiment
Score: 6
Explanation: The sentiment is neutral to slightly positive. The increased investment suggests confidence, 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 seen as a positive signal about 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. Monitoring such filings provides insights into investor sentiment and potential strategic moves within the industry.
Stakeholder Impact
- Shareholders may view the increased investment positively.
- The impact on employees, customers, suppliers, and creditors is likely neutral unless this investment signals a larger strategic shift.
Key Dates
| Date | Description |
|---|---|
| 04/29/2024 | Purchase of 10,800 shares of CTRN common stock at $21.7876 per share. |
| 04/30/2024 | Purchase of 50,800 shares of CTRN common stock at $21.4122 per share. |
| 05/01/2024 | Purchase of 30,000 shares of CTRN common stock at $21.4719 per share. |
| 05/01/2024 | Date of signature for the SEC Form 4 filings. |
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