Paloma Partners Management Co raised its stake in Urban Outfitters, Inc. (NASDAQ:URBN) by 306.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,007 shares of the apparel retailer’s stock after buying an additional 28,658 shares during the quarter. Paloma Partners Management Co’s holdings in Urban Outfitters were worth $1,555,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in URBN. Mount Yale Investment Advisors LLC acquired a new position in Urban Outfitters in the 2nd quarter valued at approximately $109,000. Point72 Hong Kong Ltd increased its stake in Urban Outfitters by 145.5% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,600 shares of the apparel retailer’s stock valued at $116,000 after buying an additional 1,541 shares during the period. Stratos Wealth Partners LTD. acquired a new position in Urban Outfitters in the 3rd quarter valued at approximately $149,000. Envestnet Asset Management Inc. increased its stake in Urban Outfitters by 679.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,710 shares of the apparel retailer’s stock valued at $166,000 after buying an additional 3,234 shares during the period. Finally, Kovack Advisors Inc. acquired a new position in Urban Outfitters in the 3rd quarter valued at approximately $202,000. Hedge funds and other institutional investors own 80.44% of the company’s stock.
NASDAQ URBN opened at $33.22 on Friday. The firm has a market cap of $3.62 billion, a P/E ratio of 19.89, a PEG ratio of 1.10 and a beta of 0.52. Urban Outfitters, Inc. has a 1 year low of $31.20 and a 1 year high of $52.50.
Several research firms have weighed in on URBN. ValuEngine lowered shares of Urban Outfitters from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research raised shares of Urban Outfitters from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Thursday, December 6th. Jefferies Financial Group set a $58.00 target price on shares of Urban Outfitters and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Bank of America set a $50.00 target price on shares of Urban Outfitters and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Finally, MKM Partners decreased their target price on shares of Urban Outfitters from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Tuesday, November 20th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. Urban Outfitters has an average rating of “Hold” and a consensus target price of $45.86.
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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.
Further Reading: Outstanding Shares
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