BI Asset Management Fondsmaeglerselskab A S Has $19.98 Million Stake in Urban Outfitters, Inc. $URBN

BI Asset Management Fondsmaeglerselskab A S grew its stake in Urban Outfitters, Inc. (NASDAQ:URBN) by 17.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,763 shares of the apparel retailer’s stock after acquiring an additional 41,559 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.31% of Urban Outfitters worth $19,983,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of URBN. Norges Bank bought a new stake in Urban Outfitters during the second quarter worth $55,429,000. Qube Research & Technologies Ltd raised its holdings in shares of Urban Outfitters by 59.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,287,096 shares of the apparel retailer’s stock valued at $93,366,000 after purchasing an additional 477,909 shares during the period. Marshall Wace LLP raised its holdings in shares of Urban Outfitters by 150.5% in the 2nd quarter. Marshall Wace LLP now owns 617,527 shares of the apparel retailer’s stock valued at $44,795,000 after purchasing an additional 371,058 shares during the period. Orion Porfolio Solutions LLC lifted its stake in Urban Outfitters by 1,248.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 242,656 shares of the apparel retailer’s stock valued at $18,767,000 after purchasing an additional 224,659 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Urban Outfitters by 53.3% during the second quarter. JPMorgan Chase & Co. now owns 581,214 shares of the apparel retailer’s stock worth $42,161,000 after purchasing an additional 202,106 shares during the period. Institutional investors and hedge funds own 77.61% of the company’s stock.

Insider Activity at Urban Outfitters

In other news, CEO Richard A. Hayne sold 10,667 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $74.94, for a total value of $799,384.98. Following the sale, the chief executive officer directly owned 17,995,938 shares in the company, valued at approximately $1,348,615,593.72. This trade represents a 0.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 558,168 shares of company stock valued at $42,434,256 over the last three months. 31.60% of the stock is currently owned by corporate insiders.

Urban Outfitters Stock Down 3.6%

Shares of Urban Outfitters stock opened at $71.16 on Friday. Urban Outfitters, Inc. has a 12-month low of $41.89 and a 12-month high of $84.35. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.02 and a beta of 1.24. The firm’s 50-day moving average price is $75.54 and its two-hundred day moving average price is $72.35.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Wednesday, December 10th. The apparel retailer reported $1.28 EPS for the quarter. The company had revenue of $1.53 billion during the quarter. Urban Outfitters had a return on equity of 18.33% and a net margin of 8.15%. On average, sell-side analysts expect that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Analyst Ratings Changes

URBN has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on Urban Outfitters from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Zacks Research downgraded shares of Urban Outfitters from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Urban Outfitters in a research report on Wednesday, November 26th. Citigroup lifted their target price on shares of Urban Outfitters from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Urban Outfitters in a report on Monday, December 29th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Urban Outfitters currently has a consensus rating of “Hold” and an average target price of $86.67.

Urban Outfitters Company 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.