Rhumbline Advisers lifted its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 2.4% during the second quarter, HoldingsChannel reports. The firm owned 144,929 shares of the apparel retailer’s stock after acquiring an additional 3,350 shares during the period. Rhumbline Advisers’ holdings in Urban Outfitters were worth $6,457,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. First Mercantile Trust Co. acquired a new stake in shares of Urban Outfitters in the 1st quarter worth about $143,000. NewSquare Capital LLC acquired a new stake in shares of Urban Outfitters in the 2nd quarter worth about $180,000. Canandaigua National Bank & Trust Co. acquired a new stake in shares of Urban Outfitters in the 2nd quarter worth about $214,000. Sciencast Management LP acquired a new stake in shares of Urban Outfitters in the 1st quarter worth about $212,000. Finally, World Asset Management Inc acquired a new stake in shares of Urban Outfitters in the 2nd quarter worth about $257,000. 77.30% of the stock is currently owned by institutional investors.
In other news, General Counsel Azeez Hayne sold 7,777 shares of the stock in a transaction that occurred on Tuesday, July 3rd. The shares were sold at an average price of $46.28, for a total transaction of $359,919.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Trish Donnelly sold 19,332 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $46.10, for a total transaction of $891,205.20. The disclosure for this sale can be found here. Insiders have sold a total of 47,109 shares of company stock valued at $2,167,725 over the last three months. Insiders own 25.90% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Nomura upped their target price on shares of Urban Outfitters from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, August 22nd. Deutsche Bank upped their target price on shares of Urban Outfitters from $35.00 to $39.00 and gave the stock a “sell” rating in a report on Wednesday, August 22nd. Jefferies Financial Group set a $58.00 target price on shares of Urban Outfitters and gave the stock a “buy” rating in a report on Wednesday, August 22nd. BidaskClub upgraded shares of Urban Outfitters from a “hold” rating to a “buy” rating in a report on Saturday, August 11th. Finally, Loop Capital set a $55.00 target price on shares of Urban Outfitters and gave the stock a “buy” rating in a report on Monday, August 13th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.77.
NASDAQ:URBN opened at $45.38 on Thursday. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 1.43 and a beta of 0.46. Urban Outfitters, Inc. has a 52 week low of $20.18 and a 52 week high of $52.50.
Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings data on Tuesday, August 21st. The apparel retailer reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.07. The firm had revenue of $992.50 million during the quarter, compared to analyst estimates of $980.19 million. Urban Outfitters had a net margin of 4.71% and a return on equity of 18.92%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. equities research analysts forecast that Urban Outfitters, Inc. will post 2.66 earnings per share for the current year.
About Urban Outfitters
Urban Outfitters, Inc, a lifestyle products and services company, engages in the retail and wholesale of general consumer products. The company retails women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28 under the Urban Outfitters brand; and women's casual apparel and accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty products for women aged 28 to 45 under the Anthropologie brand.
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