Harvest Fund Management Co. Ltd Invests $718,000 in Urban Outfitters, Inc. (NASDAQ:URBN)

Harvest Fund Management Co. Ltd purchased a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) during the fourth quarter, Holdings Channel.com reports. The fund purchased 13,020 shares of the apparel retailer’s stock, valued at approximately $718,000.

A number of other large investors have also modified their holdings of URBN. Victory Capital Management Inc. grew its stake in shares of Urban Outfitters by 142.6% during the third quarter. Victory Capital Management Inc. now owns 36,091 shares of the apparel retailer’s stock worth $1,383,000 after acquiring an additional 21,213 shares during the last quarter. KBC Group NV boosted its position in Urban Outfitters by 39.8% in the third quarter. KBC Group NV now owns 2,087 shares of the apparel retailer’s stock valued at $80,000 after buying an additional 594 shares during the last quarter. Quest Partners LLC purchased a new stake in Urban Outfitters in the third quarter valued at approximately $346,000. Pathstone Holdings LLC boosted its position in Urban Outfitters by 1.1% in the third quarter. Pathstone Holdings LLC now owns 74,271 shares of the apparel retailer’s stock valued at $2,845,000 after buying an additional 780 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its position in Urban Outfitters by 7.7% in the third quarter. Prospera Financial Services Inc now owns 8,537 shares of the apparel retailer’s stock valued at $327,000 after buying an additional 607 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Insider Activity at Urban Outfitters

In related news, insider Azeez Hayne sold 11,676 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $54.75, for a total value of $639,261.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry S. Cherken, Jr. sold 15,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $50.50, for a total value of $757,500.00. Following the completion of the transaction, the director now directly owns 495,296 shares of the company’s stock, valued at approximately $25,012,448. This represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,976 shares of company stock valued at $5,573,263. 31.80% of the stock is owned by insiders.

Urban Outfitters Price Performance

Shares of URBN stock opened at $48.95 on Friday. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.02 and a beta of 1.56. The stock has a 50 day simple moving average of $54.98 and a 200-day simple moving average of $46.89. Urban Outfitters, Inc. has a 1-year low of $33.86 and a 1-year high of $61.16.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.15. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Analysts anticipate that Urban Outfitters, Inc. will post 3.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on URBN. Bank of America upped their target price on Urban Outfitters from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Robert W. Baird boosted their price target on Urban Outfitters from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Wells Fargo & Company boosted their price target on Urban Outfitters from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. StockNews.com raised Urban Outfitters from a “hold” rating to a “buy” rating in a report on Saturday, March 1st. Finally, Telsey Advisory Group boosted their price target on Urban Outfitters from $56.00 to $59.00 and gave the company a “market perform” rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Urban Outfitters currently has an average rating of “Hold” and an average price target of $56.00.

About Urban Outfitters

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.