Point72 Asset Management L.P. purchased a new position in Urban Outfitters (NASDAQ:URBN) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 51,800 shares of the apparel retailer’s stock, valued at approximately $1,915,000.
Other large investors have also added to or reduced their stakes in the company. First Mercantile Trust Co. acquired a new position in shares of Urban Outfitters in the first quarter worth about $143,000. BRYN MAWR TRUST Co acquired a new position in shares of Urban Outfitters in the fourth quarter worth about $207,000. Element Capital Management LLC acquired a new position in shares of Urban Outfitters in the first quarter worth about $238,000. Allianz Asset Management GmbH acquired a new position in shares of Urban Outfitters in the first quarter worth about $265,000. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of Urban Outfitters in the fourth quarter worth about $272,000. Institutional investors and hedge funds own 70.82% of the company’s stock.
In related news, insider David W. Mccreight sold 147,319 shares of the stock in a transaction that occurred on Thursday, April 12th. The stock was sold at an average price of $38.54, for a total value of $5,677,674.26. Following the completion of the transaction, the insider now directly owns 108,900 shares of the company’s stock, valued at approximately $4,197,006. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Azeez Hayne sold 800 shares of the stock in a transaction that occurred on Monday, April 9th. The stock was sold at an average price of $39.01, for a total value of $31,208.00. The disclosure for this sale can be found here. Insiders have sold a total of 328,430 shares of company stock worth $12,995,693 over the last quarter. Insiders own 25.90% of the company’s stock.
URBN has been the topic of several recent analyst reports. Royal Bank of Canada set a $40.00 price target on Urban Outfitters and gave the stock a “hold” rating in a research note on Tuesday, March 6th. Zacks Investment Research upgraded Urban Outfitters from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Friday, April 6th. Wells Fargo & Co restated a “hold” rating and set a $39.00 price objective (up previously from $32.00) on shares of Urban Outfitters in a research note on Wednesday, March 7th. Robert W. Baird restated a “buy” rating and set a $42.00 price objective (up previously from $39.00) on shares of Urban Outfitters in a research note on Wednesday, March 7th. Finally, SunTrust Banks set a $42.00 price objective on Urban Outfitters and gave the company a “buy” rating in a research note on Tuesday, April 3rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $40.83.
Shares of Urban Outfitters opened at $46.05 on Monday, MarketBeat.com reports. The company has a market cap of $5.08 billion, a PE ratio of 27.57, a P/E/G ratio of 1.56 and a beta of 0.52. Urban Outfitters has a twelve month low of $16.68 and a twelve month high of $48.24.
Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Tuesday, May 22nd. The apparel retailer reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.08. The business had revenue of $855.70 million for the quarter, compared to analysts’ expectations of $837.79 million. Urban Outfitters had a return on equity of 16.13% and a net margin of 3.71%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. research analysts predict that Urban Outfitters will post 2.49 earnings per share for the current fiscal year.
Urban Outfitters Company Profile
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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