Edgestream Partners L.P. bought a new stake in Urban Outfitters, Inc. (NASDAQ:URBN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 53,498 shares of the apparel retailer’s stock, valued at approximately $2,188,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in URBN. Chicago Equity Partners LLC raised its position in Urban Outfitters by 17.6% in the second quarter. Chicago Equity Partners LLC now owns 191,670 shares of the apparel retailer’s stock worth $8,539,000 after purchasing an additional 28,665 shares in the last quarter. Empowered Funds LLC acquired a new position in Urban Outfitters in the third quarter worth about $1,520,000. Waddell & Reed Financial Inc. acquired a new position in Urban Outfitters in the second quarter worth about $50,202,000. MERIAN GLOBAL INVESTORS UK Ltd raised its position in Urban Outfitters by 59.0% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,718,187 shares of the apparel retailer’s stock worth $111,173,000 after purchasing an additional 1,008,156 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. acquired a new position in Urban Outfitters in the third quarter worth about $965,000. Institutional investors and hedge funds own 79.61% of the company’s stock.
URBN has been the subject of several recent research reports. B. Riley increased their price target on shares of Urban Outfitters from $42.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 22nd. SunTrust Banks increased their price target on shares of Urban Outfitters to $55.00 and gave the stock a “positive” rating in a research report on Wednesday, August 22nd. DA Davidson initiated coverage on shares of Urban Outfitters in a research report on Tuesday, September 25th. They issued a “neutral” rating and a $40.00 price target for the company. Loop Capital increased their price target on shares of Urban Outfitters from $55.00 to $56.00 and gave the stock a “sell” rating in a research report on Tuesday, August 21st. Finally, BidaskClub lowered shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Urban Outfitters has a consensus rating of “Hold” and an average price target of $45.83.
Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings data on Tuesday, August 21st. The apparel retailer reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.07. The company 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 was up 13.7% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. Equities research analysts forecast that Urban Outfitters, Inc. will post 2.66 EPS for the current year.
In other news, CEO Trish Donnelly sold 19,332 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 25.90% of the company’s stock.
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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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