8,431 Shares in Urban Outfitters, Inc. (NASDAQ:URBN) Purchased by Bayforest Capital Ltd

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 purchased a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,431 shares of the apparel retailer's stock, valued at approximately $442,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vestcor Inc acquired a new stake in shares of Urban Outfitters in the first quarter worth $343,000. GSA Capital Partners LLP increased its position in shares of Urban Outfitters by 2.0% in the first quarter. GSA Capital Partners LLP now owns 10,401 shares of the apparel retailer's stock worth $545,000 after acquiring an additional 203 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Urban Outfitters by 17,175.0% in the first quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer's stock worth $36,000 after acquiring an additional 687 shares in the last quarter. Picton Mahoney Asset Management increased its position in shares of Urban Outfitters by 22,659.4% in the first quarter. Picton Mahoney Asset Management now owns 7,283 shares of the apparel retailer's stock worth $382,000 after acquiring an additional 7,251 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Urban Outfitters by 21.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,912 shares of the apparel retailer's stock worth $939,000 after acquiring an additional 3,191 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company's stock.

Analyst Upgrades and Downgrades

URBN has been the subject of several analyst reports. Barclays upped their target price on shares of Urban Outfitters from $59.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Wall Street Zen upgraded shares of Urban Outfitters from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 14th. Glj Research restated a "sell" rating on shares of Urban Outfitters in a research note on Thursday, May 22nd. BMO Capital Markets set a $76.00 target price on shares of Urban Outfitters and gave the company a "market perform" rating in a research note on Thursday, May 22nd. Finally, Robert W. Baird upgraded shares of Urban Outfitters from a "neutral" rating to an "outperform" rating and upped their target price for the company from $75.00 to $90.00 in a research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.00.

Urban Outfitters Stock Performance

Shares of NASDAQ:URBN traded up $0.93 during trading hours on Friday, hitting $76.21. 2,036,002 shares of the company's stock traded hands, compared to its average volume of 1,623,481. Urban Outfitters, Inc. has a 52 week low of $33.86 and a 52 week high of $78.22. The company's fifty day simple moving average is $71.87 and its two-hundred day simple moving average is $60.12. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.30 and a beta of 1.44.

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

Insider Activity

In related news, CFO Melanie Marein-Efron sold 20,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry S. Cherken, Jr. sold 35,000 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $74.15, for a total transaction of $2,595,250.00. Following the transaction, the director directly owned 480,296 shares in the company, valued at $35,613,948.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,156 shares of company stock valued at $11,636,158. 31.60% of the stock is currently owned by company insiders.

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.