Bayforest Capital Ltd Makes New $442,000 Investment in Urban Outfitters, Inc. (NASDAQ:URBN)

Key Points

• Bayforest Capital Ltd has acquired a new stake in Urban Outfitters, Inc., purchasing 8,431 shares valued at approximately $442,000 in the first quarter.
• Institutional investors collectively hold 77.61% of Urban Outfitters' stock, with several funds making significant adjustments to their positions, such as Whipplewood Advisors raising their stake by 2,893.8%.
• Urban Outfitters reported earnings of $1.16 EPS for the last quarter, exceeding analysts' expectations, and indicated a revenue increase of 10.7% year-over-year.

Bayforest Capital Ltd bought a new stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,431 shares of the apparel retailer's stock, valued at approximately $442,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Whipplewood Advisors LLC lifted its stake in shares of Urban Outfitters by 2,893.8% in the 1st 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. lifted its stake in shares of Urban Outfitters by 17,175.0% in the 1st quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer's stock worth $36,000 after purchasing an additional 687 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Urban Outfitters in the 1st quarter worth approximately $52,000. GAMMA Investing LLC lifted its stake in shares of Urban Outfitters by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer's stock worth $54,000 after purchasing an additional 263 shares during the period. Finally, Covestor Ltd raised its stake in Urban Outfitters by 159.5% during the 4th quarter. Covestor Ltd now owns 2,753 shares of the apparel retailer's stock worth $151,000 after acquiring an additional 1,692 shares during the period. Institutional investors own 77.61% of the company's stock.

Urban Outfitters Stock Performance

URBN traded up $1.98 during trading on Monday, reaching $78.19. 672,757 shares of the company traded hands, compared to its average volume of 2,148,859. Urban Outfitters, Inc. has a 12-month low of $33.86 and a 12-month high of $78.84. The firm has a fifty day simple moving average of $71.87 and a 200 day simple moving average of $60.20. The company has a market cap of $7.01 billion, a P/E ratio of 16.36, a PEG ratio of 1.31 and a beta of 1.44.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on URBN shares. Citigroup decreased their target price on shares of Urban Outfitters from $65.00 to $54.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley raised their target price on shares of Urban Outfitters from $62.00 to $77.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Wall Street Zen cut shares of Urban Outfitters from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Glj Research restated a "sell" rating on shares of Urban Outfitters in a research note on Thursday, May 22nd. Finally, Bank of America raised their target price on shares of Urban Outfitters from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $75.00.

Insider Transactions at Urban Outfitters

In related news, insider Azeez Hayne sold 12,856 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $73.00, for a total value of $938,488.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Melanie Marein-Efron sold 20,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $73.36, for a total transaction of $1,467,200.00. Following the completion of the transaction, the chief financial officer directly owned 5,036 shares of the company's stock, valued at approximately $369,440.96. This trade represents a 79.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,156 shares of company stock valued at $11,636,158 in the last 90 days. Company insiders own 31.60% 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.