Versor Investments LP Makes New Investment in Urban Outfitters, Inc. $URBN

Key Points

• Versor Investments LP acquired 24,700 shares of Urban Outfitters for approximately $1.29 million, indicating a significant institutional interest in the apparel retailer.
• Urban Outfitters reported a 10.7% year-over-year revenue increase with $1.33 billion for the most recent quarter, and earnings per share exceeded expectations at $1.16.
• Insider transactions showed a notable decrease in ownership among executives, with insider Margaret Hayne selling 80,000 shares for over $5.8 million in May.

Versor Investments LP purchased a new stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 24,700 shares of the apparel retailer's stock, valued at approximately $1,294,000.

A number of other hedge funds also recently added to or reduced their stakes in URBN. SG Americas Securities LLC boosted its stake in Urban Outfitters by 313.4% during the 1st quarter. SG Americas Securities LLC now owns 23,342 shares of the apparel retailer's stock valued at $1,223,000 after purchasing an additional 17,696 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Urban Outfitters during the first quarter valued at $52,000. Public Employees Retirement System of Ohio boosted its position in shares of Urban Outfitters by 1,778.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 34,588 shares of the apparel retailer's stock valued at $1,898,000 after buying an additional 32,747 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Urban Outfitters in the 1st quarter worth about $1,094,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Urban Outfitters by 17.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 129,114 shares of the apparel retailer's stock worth $7,086,000 after buying an additional 19,551 shares during the last quarter. 77.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Urban Outfitters

In other news, Director Harry S. Cherken, Jr. sold 35,000 shares of Urban Outfitters stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $74.15, for a total transaction of $2,595,250.00. Following the sale, the director owned 480,296 shares in the company, valued at $35,613,948.40. This trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Azeez Hayne sold 12,856 shares of Urban Outfitters stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $73.00, for a total transaction of $938,488.00. The disclosure for this sale can be found here. Insiders have sold 159,156 shares of company stock worth $11,636,158 in the last three months. Corporate insiders own 31.60% of the company's stock.

Urban Outfitters Stock Performance

Shares of NASDAQ URBN traded down $1.96 during midday trading on Wednesday, reaching $73.37. The stock had a trading volume of 2,022,699 shares, compared to its average volume of 1,650,334. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.30 and a beta of 1.44. Urban Outfitters, Inc. has a 12-month low of $33.86 and a 12-month high of $80.71. The stock has a 50-day moving average of $73.44 and a 200-day moving average of $62.02.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last issued its earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.35. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.29 billion. Urban Outfitters had a net margin of 7.91% and a return on equity of 17.98%. Urban Outfitters's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. As a group, analysts forecast that Urban Outfitters, Inc. will post 3.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on URBN. Baird R W upgraded shares of Urban Outfitters from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 11th. Wall Street Zen downgraded Urban Outfitters from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. BMO Capital Markets set a $76.00 price objective on Urban Outfitters and gave the stock a "market perform" rating in a report on Thursday, May 22nd. Robert W. Baird raised Urban Outfitters from a "neutral" rating to an "outperform" rating and increased their target price for the company from $75.00 to $90.00 in a report on Wednesday, June 11th. Finally, Barclays raised their target price on Urban Outfitters from $59.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $77.27.

Urban Outfitters Profile

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.