Cannell & Spears LLC Increases Stake in Urban Outfitters, Inc. $URBN

Cannell & Spears LLC raised its stake in Urban Outfitters, Inc. (NASDAQ:URBN) by 89.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 71,039 shares of the apparel retailer’s stock after purchasing an additional 33,549 shares during the quarter. Cannell & Spears LLC owned 0.08% of Urban Outfitters worth $4,411,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Abrams Bison Investments LLC purchased a new position in shares of Urban Outfitters in the fourth quarter worth $127,114,000. Balyasny Asset Management L.P. grew its holdings in Urban Outfitters by 5,360.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock worth $44,155,000 after acquiring an additional 606,831 shares during the last quarter. Norges Bank bought a new stake in Urban Outfitters in the 4th quarter worth $44,191,000. UBS Group AG increased its position in shares of Urban Outfitters by 339.3% in the fourth quarter. UBS Group AG now owns 641,454 shares of the apparel retailer’s stock valued at $48,276,000 after acquiring an additional 495,441 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Urban Outfitters by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,313,938 shares of the apparel retailer’s stock valued at $273,274,000 after acquiring an additional 338,622 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Insider Buying and Selling at Urban Outfitters

In related news, CFO Melanie Marein-Efron sold 5,036 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.42, for a total value of $369,743.12. Following the sale, the chief financial officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Azeez Hayne sold 8,733 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total value of $639,080.94. Additional details regarding this sale are available in the official SEC disclosure. 32.10% of the stock is owned by corporate insiders.

Urban Outfitters Price Performance

Shares of URBN opened at $69.97 on Friday. The company has a 50-day simple moving average of $72.44 and a two-hundred day simple moving average of $70.12. The firm has a market capitalization of $5.99 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. Urban Outfitters, Inc. has a one year low of $59.53 and a one year high of $84.35.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.18. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 EPS. Analysts expect that Urban Outfitters, Inc. will post 6.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on URBN shares. Bank of America raised their target price on Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Morgan Stanley reiterated an “overweight” rating and issued a $89.00 price objective on shares of Urban Outfitters in a report on Monday, July 6th. The Goldman Sachs Group upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $76.00 to $93.00 in a research report on Monday, July 20th. Jefferies Financial Group reissued a “hold” rating and set a $72.00 target price on shares of Urban Outfitters in a research note on Thursday, May 21st. Finally, Zacks Research raised Urban Outfitters from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.91.

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.