Maryland State Retirement & Pension System Grows Stock Holdings in Urban Outfitters, Inc. $URBN

Maryland State Retirement & Pension System raised its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,611 shares of the apparel retailer’s stock after buying an additional 198 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Urban Outfitters were worth $1,205,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Federated Hermes Inc. increased its holdings in shares of Urban Outfitters by 17,175.0% during the first quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer’s stock valued at $36,000 after acquiring an additional 687 shares in the last quarter. Virtus Advisers LLC acquired a new position in shares of Urban Outfitters during the first quarter valued at about $46,000. Exchange Traded Concepts LLC acquired a new position in shares of Urban Outfitters during the first quarter valued at about $52,000. GAMMA Investing LLC increased its holdings in shares of Urban Outfitters by 34.7% during the first quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer’s stock valued at $54,000 after acquiring an additional 263 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Urban Outfitters by 146.2% during the first quarter. Quarry LP now owns 1,418 shares of the apparel retailer’s stock valued at $74,000 after acquiring an additional 842 shares in the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

Urban Outfitters Trading Down 2.6%

Urban Outfitters stock opened at $68.34 on Monday. Urban Outfitters, Inc. has a 12 month low of $34.76 and a 12 month high of $80.71. The stock’s 50 day simple moving average is $73.10 and its two-hundred day simple moving average is $66.65. The firm has a market cap of $6.13 billion, a PE ratio of 13.35, a P/E/G ratio of 1.07 and a beta of 1.26.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.14. Urban Outfitters had a return on equity of 18.43% and a net margin of 8.15%.The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm posted $1.24 EPS. The business’s revenue was up 11.3% on a year-over-year basis. On average, equities research analysts forecast that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on URBN. Wall Street Zen downgraded shares of Urban Outfitters from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 28th. UBS Group upped their price objective on shares of Urban Outfitters from $78.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Urban Outfitters in a report on Wednesday, October 8th. Wells Fargo & Company increased their price target on shares of Urban Outfitters from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, August 28th. Finally, Barclays reiterated an “overweight” rating and issued a $89.00 price target on shares of Urban Outfitters in a report on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.91.

Insider Buying and Selling

In other news, CEO Tricia D. Smith sold 3,400 shares of the stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $69.77, for a total transaction of $237,218.00. Following the transaction, the chief executive officer owned 10,077 shares in the company, valued at $703,072.29. This trade represents a 25.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mary Egan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $70.12, for a total value of $70,120.00. Following the transaction, the director owned 14,250 shares in the company, valued at $999,210. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Company insiders own 31.80% of the company’s stock.

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.