Assenagon Asset Management S.A. Has $947,000 Holdings in Urban Outfitters, Inc. $URBN

Key Points

• Assenagon Asset Management cut its Urban Outfitters stake by 85.5% in the second quarter, selling 78,827 shares and retaining 13,371 shares valued at approximately $947,000.
• Urban Outfitters reported quarterly earnings of $1.30 per share, beating estimates of $1.12, while revenue rose 11.4% year over year to $1.48 billion.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $88.55, compared with the stock’s reported opening price of $77.81.

Assenagon Asset Management S.A. trimmed its holdings in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 85.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,371 shares of the apparel retailer's stock after selling 78,827 shares during the period. Assenagon Asset Management S.A.'s holdings in Urban Outfitters were worth $947,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in URBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Urban Outfitters by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,728 shares of the apparel retailer's stock worth $1,977,000 after purchasing an additional 1,653 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Urban Outfitters by 10.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,668 shares of the apparel retailer's stock worth $7,476,000 after purchasing an additional 13,554 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Urban Outfitters by 343.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,435 shares of the apparel retailer's stock valued at $177,000 after buying an additional 1,886 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Urban Outfitters by 125.1% in the second quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer's stock valued at $36,000 after buying an additional 274 shares during the period. Finally, First Trust Advisors LP grew its position in Urban Outfitters by 14.0% during the second quarter. First Trust Advisors LP now owns 182,547 shares of the apparel retailer's stock worth $13,242,000 after buying an additional 22,393 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company's stock.

Insider Activity at Urban Outfitters

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 5,036 shares of the stock in a transaction that occurred 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 owned 17,023 shares of the company's stock, valued at approximately $1,249,828.66. This represents a 22.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Azeez Hayne sold 8,733 shares of the company's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total transaction of $639,080.94. The SEC filing for this sale provides additional information. Corporate insiders own 32.10% of the company's stock.

Urban Outfitters Trading Up 2.1%

Urban Outfitters stock opened at $77.81 on Friday. The stock has a 50-day moving average price of $73.72 and a two-hundred day moving average price of $70.46. Urban Outfitters, Inc. has a 12 month low of $59.53 and a 12 month high of $84.35. The company has a market capitalization of $6.66 billion, a PE ratio of 14.93, a P/E/G ratio of 1.44 and a beta of 1.23.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.18. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.46 billion. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.16 earnings per share. As a group, analysts predict that Urban Outfitters, Inc. will post 6.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Barclays lowered their price objective on Urban Outfitters from $102.00 to $100.00 and set an "overweight" rating on the stock in a research note on Friday, May 22nd. JPMorgan Chase & Co. upped their price objective on shares of Urban Outfitters from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, May 21st. Jefferies Financial Group increased their price objective on shares of Urban Outfitters from $72.00 to $79.00 and gave the stock a "hold" rating in a research note on Wednesday. The Goldman Sachs Group raised shares of Urban Outfitters from a "neutral" rating to a "buy" rating and upped their price target for the stock from $76.00 to $93.00 in a report on Monday, July 20th. Finally, Weiss Ratings lowered shares of Urban Outfitters from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.55.

Urban Outfitters Company Profile

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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