Assenagon Asset Management S.A. Has $5.47 Million Position in Urban Outfitters, Inc. $URBN

Key Points

• Assenagon Asset Management S.A. reduced its holdings in Urban Outfitters by 58.9%, ending up with $5.47 million worth of shares after selling over 108,000 shares in the second quarter.
• Wall Street analysts have upgraded Urban Outfitters' stock ratings, with targets climbing to as high as $90, indicating a positive outlook for the company.
• Urban Outfitters reported strong quarterly earnings, with $1.58 EPS, exceeding expectations and showcasing an 11.3% increase in revenue year-over-year.

Assenagon Asset Management S.A. reduced its holdings in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 58.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,397 shares of the apparel retailer's stock after selling 108,125 shares during the period. Assenagon Asset Management S.A. owned 0.08% of Urban Outfitters worth $5,469,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC grew its holdings in Urban Outfitters by 2,893.8% during the first quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock worth $25,000 after purchasing an additional 463 shares during the period. Federated Hermes Inc. grew its stake in Urban Outfitters by 17,175.0% in the 1st quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer's stock valued at $36,000 after buying an additional 687 shares during the last quarter. Virtus Advisers LLC acquired a new position in Urban Outfitters in the 1st quarter valued at about $46,000. Exchange Traded Concepts LLC acquired a new position in Urban Outfitters in the 1st quarter valued at about $52,000. Finally, GAMMA Investing LLC grew its stake in Urban Outfitters by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer's stock valued at $54,000 after buying an additional 263 shares during the last quarter. Institutional investors own 77.61% of the company's stock.

Wall Street Analysts Forecast Growth

URBN has been the topic of a number of research reports. Wall Street Zen upgraded shares of Urban Outfitters from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 20th. Citigroup reiterated a "neutral" rating and issued a $76.00 price target (up previously from $75.00) on shares of Urban Outfitters in a research note on Wednesday, August 20th. Telsey Advisory Group increased their target price on shares of Urban Outfitters from $72.00 to $80.00 and gave the stock a "market perform" rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. raised their target price on shares of Urban Outfitters from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Finally, Robert W. Baird upgraded Urban Outfitters from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $75.00 to $90.00 in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $81.91.

Urban Outfitters Stock Performance

Shares of NASDAQ URBN opened at $71.20 on Thursday. Urban Outfitters, Inc. has a 52-week low of $34.76 and a 52-week high of $80.71. The firm has a 50 day moving average price of $73.92 and a two-hundred day moving average price of $64.74. The stock has a market cap of $6.39 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.15 and a beta of 1.29.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The apparel retailer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.14. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the prior year, the company posted $1.24 earnings per share. Urban Outfitters's revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts predict that Urban Outfitters, Inc. will post 3.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Urban Outfitters

In related news, Director Mary Egan sold 1,000 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $70.12, for a total transaction of $70,120.00. Following the transaction, the director directly owned 14,250 shares of the company's stock, valued at $999,210. This trade represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.60% of the stock is owned by insiders.

Urban Outfitters Company 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.

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