Assenagon Asset Management S.A. Purchases 34,402 Shares of Urban Outfitters, Inc. $URBN

Assenagon Asset Management S.A. boosted its holdings in Urban Outfitters, Inc. (NASDAQ:URBN) by 59.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 92,198 shares of the apparel retailer’s stock after acquiring an additional 34,402 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Urban Outfitters were worth $5,841,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Urban Outfitters by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,728 shares of the apparel retailer’s stock valued at $1,977,000 after buying an additional 1,653 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Urban Outfitters by 10.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,668 shares of the apparel retailer’s stock worth $7,476,000 after acquiring an additional 13,554 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Urban Outfitters by 343.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,435 shares of the apparel retailer’s stock worth $177,000 after acquiring an additional 1,886 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Urban Outfitters by 125.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer’s stock valued at $36,000 after acquiring an additional 274 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Urban Outfitters by 14.0% during the 2nd quarter. First Trust Advisors LP now owns 182,547 shares of the apparel retailer’s stock valued at $13,242,000 after purchasing an additional 22,393 shares during the last quarter. Institutional investors own 77.61% of the company’s stock.

Insider Activity at Urban Outfitters

In related news, insider Azeez Hayne sold 8,733 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total value of $639,080.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction 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. This represents a 22.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 32.10% of the company’s stock.

Urban Outfitters Stock Performance

Shares of URBN opened at $71.46 on Tuesday. Urban Outfitters, Inc. has a fifty-two week low of $59.53 and a fifty-two week high of $84.35. The business has a 50-day moving average of $72.48 and a 200 day moving average of $71.10. The firm has a market cap of $6.12 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, beating the consensus estimate of $1.12 by $0.18. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. As a group, research analysts predict that Urban Outfitters, Inc. will post 6.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on URBN. Wall Street Zen downgraded Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Barclays cut their target price on Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, May 22nd. Bank of America increased their price target on Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Jefferies Financial Group restated a “hold” rating and set a $72.00 price objective on shares of Urban Outfitters in a research note on Thursday, May 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Urban Outfitters from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Urban Outfitters currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.18.

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.