Arrowstreet Capital Limited Partnership Reduces Stake in Urban Outfitters, Inc. $URBN

Arrowstreet Capital Limited Partnership reduced its holdings in Urban Outfitters, Inc. (NASDAQ:URBN) by 13.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 848,922 shares of the apparel retailer’s stock after selling 131,438 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Urban Outfitters were worth $61,581,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in URBN. Cullen Frost Bankers Inc. boosted its holdings in Urban Outfitters by 180.2% in the second quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer’s stock valued at $34,000 after acquiring an additional 301 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Urban Outfitters by 17,175.0% in the 1st quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 687 shares during the period. Virtus Advisers LLC bought a new stake in shares of Urban Outfitters during the 1st quarter valued at about $46,000. Parkside Financial Bank & Trust increased its position in shares of Urban Outfitters by 32.6% during the second quarter. Parkside Financial Bank & Trust now owns 964 shares of the apparel retailer’s stock valued at $70,000 after buying an additional 237 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in shares of Urban Outfitters by 11.7% during the second quarter. Asset Management One Co. Ltd. now owns 1,340 shares of the apparel retailer’s stock valued at $97,000 after buying an additional 140 shares during the period. Institutional investors own 77.61% of the company’s stock.

Insider Activity at Urban Outfitters

In other Urban Outfitters news, insider Margaret Hayne sold 9,333 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $73.97, for a total value of $690,362.01. Following the completion of the transaction, the insider directly owned 2,402,723 shares in the company, valued at $177,729,420.31. This represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard A. Hayne sold 10,667 shares of Urban Outfitters stock in a transaction on Friday, October 10th. The shares were sold at an average price of $70.46, for a total transaction of $751,596.82. Following the transaction, the chief executive officer owned 18,027,939 shares in the company, valued at approximately $1,270,248,581.94. This trade represents a 0.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 104,400 shares of company stock worth $7,603,338 in the last ninety days. Insiders own 31.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on URBN shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Urban Outfitters in a research report on Monday. Morgan Stanley upped their price target on Urban Outfitters from $85.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Telsey Advisory Group raised their price objective on Urban Outfitters from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Wednesday, November 26th. Barclays boosted their target price on shares of Urban Outfitters from $89.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Finally, UBS Group upped their target price on shares of Urban Outfitters from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Urban Outfitters presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.36.

Urban Outfitters Stock Performance

NASDAQ:URBN opened at $75.72 on Friday. The stock has a 50-day simple moving average of $68.05 and a two-hundred day simple moving average of $70.76. The firm has a market capitalization of $6.79 billion, a PE ratio of 14.29, a P/E/G ratio of 1.19 and a beta of 1.20. Urban Outfitters, Inc. has a 52-week low of $41.89 and a 52-week high of $80.71.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings data on Tuesday, November 25th. The apparel retailer reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.09. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Urban Outfitters had a return on equity of 18.33% and a net margin of 8.15%.The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 EPS. Equities analysts forecast that Urban Outfitters, Inc. will post 3.91 earnings per share for the current fiscal year.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.