Arrowstreet Capital Limited Partnership Raises Holdings in Urban Outfitters, Inc. $URBN

Arrowstreet Capital Limited Partnership increased its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 23.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 981,130 shares of the apparel retailer’s stock after purchasing an additional 189,454 shares during the period. Arrowstreet Capital Limited Partnership owned 1.15% of Urban Outfitters worth $62,155,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jupiter Asset Management Ltd. raised its stake in shares of Urban Outfitters by 33.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,297,452 shares of the apparel retailer’s stock worth $97,646,000 after purchasing an additional 327,453 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Urban Outfitters by 883.4% in the 4th quarter. HighTower Advisors LLC now owns 43,081 shares of the apparel retailer’s stock valued at $3,242,000 after purchasing an additional 38,700 shares during the period. UBS Group AG boosted its stake in shares of Urban Outfitters by 339.3% during the 4th quarter. UBS Group AG now owns 641,454 shares of the apparel retailer’s stock worth $48,276,000 after acquiring an additional 495,441 shares in the last quarter. Virtus Wealth Solutions LLC purchased a new position in Urban Outfitters during the fourth quarter worth approximately $1,310,000. Finally, PBU The Pension Fund of Early Childhood & Youth Educators acquired a new stake in Urban Outfitters in the 4th quarter valued at $7,539,000. 77.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Urban Outfitters

In other news, CFO Melanie Marein-Efron sold 5,036 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $73.42, for a total value of $369,743.12. Following the completion of the transaction, the chief financial officer owned 17,023 shares of the company’s stock, valued at $1,249,828.66. The trade was a 22.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Azeez Hayne sold 8,733 shares of Urban Outfitters stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total transaction of $639,080.94. The SEC filing for this sale provides additional information. Insiders own 32.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on URBN. JPMorgan Chase & Co. lifted their price objective on Urban Outfitters from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Wall Street Zen upgraded shares of Urban Outfitters from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Zacks Research raised shares of Urban Outfitters from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Morgan Stanley restated an “overweight” rating and issued a $89.00 price objective on shares of Urban Outfitters in a report on Monday, July 6th. Finally, The Goldman Sachs Group raised Urban Outfitters from a “neutral” rating to a “buy” rating and increased their price target for the company from $76.00 to $93.00 in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Urban Outfitters has a consensus rating of “Moderate Buy” and a consensus price target of $87.91.

Urban Outfitters Stock Up 3.8%

Shares of NASDAQ URBN opened at $72.61 on Tuesday. The firm has a 50-day moving average price of $72.50 and a 200 day moving average price of $70.01. Urban Outfitters, Inc. has a 52 week low of $59.53 and a 52 week high of $84.35. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.18. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that Urban Outfitters, Inc. will post 6.13 EPS for the current fiscal year.

Urban Outfitters Profile

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.