Assenagon Asset Management S.A. Has $5.84 Million Stake in Urban Outfitters, Inc. $URBN

Key Points

• Assenagon Asset Management boosted its Urban Outfitters stake by 59.5% in the first quarter, ending with 92,198 shares valued at about $5.84 million.
• Urban Outfitters reported better-than-expected Q1 results, with EPS of $1.30 versus the $1.12 estimate and revenue of $1.48 billion, up 11.4% from a year earlier.
• Analysts are mixed on the stock: the consensus rating remains Moderate Buy, but recent moves included a downgrade from Wall Street Zen while other firms maintained or raised targets; the shares were trading down 2.8% at $71.46.

Assenagon Asset Management S.A. increased its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 59.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 92,198 shares of the apparel retailer's stock after acquiring an additional 34,402 shares during the period. Assenagon Asset Management S.A. owned about 0.11% of Urban Outfitters worth $5,841,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. bought a new stake in shares of Urban Outfitters during the fourth quarter worth about $27,000. Brown Brothers Harriman & Co. raised its holdings in Urban Outfitters by 815.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer's stock valued at $28,000 after buying an additional 326 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in Urban Outfitters by 58.4% in the 4th quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer's stock valued at $31,000 after buying an additional 149 shares during the last quarter. Richardson Financial Services Inc. boosted its position in Urban Outfitters by 90.3% during the 4th quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer's stock worth $33,000 after buying an additional 205 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Urban Outfitters during the 4th quarter worth approximately $33,000. 77.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on URBN shares. Wall Street Zen cut shares of Urban Outfitters from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Weiss Ratings raised Urban Outfitters from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday. Jefferies Financial Group reaffirmed a "hold" rating and set a $72.00 target price on shares of Urban Outfitters in a report on Thursday, May 21st. Barclays reduced their price target on Urban Outfitters from $102.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. increased their price target on Urban Outfitters from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, May 21st. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $87.18.

Urban Outfitters Trading Down 2.8%

URBN stock opened at $71.46 on Tuesday. The firm has a market cap of $6.12 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The stock has a 50-day moving average price of $72.48 and a 200-day moving average price of $71.10. Urban Outfitters, Inc. has a 1-year low of $59.53 and a 1-year high of $84.35.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its earnings results on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, beating the consensus estimate of $1.12 by $0.18. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.16 EPS. On average, analysts forecast that Urban Outfitters, Inc. will post 6.01 earnings per share for the current year.

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, insider Azeez Hayne sold 8,733 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total value of $639,080.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the completion of the sale, the chief financial officer directly owned 17,023 shares of the company's stock, valued at approximately $1,249,828.66. This trade represents a 22.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 32.10% of the stock is owned by corporate insiders.

About Urban Outfitters

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.

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