Bayforest Capital Ltd Reduces Holdings in Urban Outfitters, Inc. $URBN

Key Points

• Bayforest Capital Ltd decreased its holdings in Urban Outfitters by 56.5% during the second quarter, reducing its shares to 3,670.
• Several large investors, including Natixis Advisors LLC and GAMMA Investing LLC, made significant increases in their stakes in Urban Outfitters during the first quarter.
• Analysts have raised their price targets for Urban Outfitters, with Morgan Stanley now projecting a target of $84.00 and Zacks Research upgrading the stock to a strong-buy rating.

Bayforest Capital Ltd trimmed its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 56.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,670 shares of the apparel retailer's stock after selling 4,761 shares during the quarter. Bayforest Capital Ltd's holdings in Urban Outfitters were worth $266,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. HighTower Advisors LLC purchased a new stake in shares of Urban Outfitters during the first quarter worth approximately $241,000. Exchange Traded Concepts LLC purchased a new stake in shares of Urban Outfitters during the first quarter worth approximately $52,000. Janney Montgomery Scott LLC acquired a new position in shares of Urban Outfitters during the 1st quarter worth approximately $1,094,000. GAMMA Investing LLC boosted its holdings in shares of Urban Outfitters by 34.7% during 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 last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Urban Outfitters by 55.3% during the 1st quarter. Natixis Advisors LLC now owns 23,976 shares of the apparel retailer's stock worth $1,256,000 after purchasing an additional 8,542 shares during the last quarter. 77.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Urban Outfitters from $82.00 to $84.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Zacks Research upgraded Urban Outfitters from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. UBS Group boosted their target price on Urban Outfitters from $78.00 to $79.00 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. Weiss Ratings restated a "buy (b)" rating on shares of Urban Outfitters in a report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their target price on Urban Outfitters from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $81.91.

Urban Outfitters Stock Performance

URBN opened at $66.60 on Friday. Urban Outfitters, Inc. has a one year low of $34.76 and a one year high of $80.71. The stock has a market capitalization of $5.97 billion, a PE ratio of 13.01, a P/E/G ratio of 1.07 and a beta of 1.26. The business's 50 day moving average price is $72.24 and its 200 day moving average price is $66.89.

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

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, CEO Tricia D. Smith sold 3,400 shares of the business's stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $69.77, for a total value of $237,218.00. Following the sale, the chief executive officer owned 10,077 shares of the company's stock, valued at $703,072.29. The trade was a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard A. Hayne sold 9,333 shares of the business's stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $70.11, for a total value of $654,336.63. Following the completion of the sale, the chief executive officer directly owned 2,430,722 shares in the company, valued at approximately $170,417,919.42. The trade was a 0.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,400 shares of company stock valued at $3,118,738 over the last quarter. 31.60% of the stock is owned by company 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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