Clark Capital Management Group Inc. Invests $7.74 Million in Urban Outfitters, Inc. $URBN

Key Points

• Clark Capital Management Group Inc. bought a new stake of 108,383 shares of Urban Outfitters (NASDAQ:URBN) in Q3, valued at about $7.74 million and representing roughly 0.12% ownership.
• Urban Outfitters beat expectations last quarter with $1.43 EPS versus a $1.24 consensus and $1.80 billion in revenue (up 10.1% year-over-year), with a market cap of about $5.69 billion and a P/E of 12.51.
• Significant insider selling has occurred recently — insiders sold a total of 453,517 shares worth $33.9 million over the last 90 days (including sales by CEO Richard Hayne) — while institutional ownership stands at about 77.61% and insiders own 31.80%.

Clark Capital Management Group Inc. bought a new stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 108,383 shares of the apparel retailer's stock, valued at approximately $7,742,000. Clark Capital Management Group Inc. owned about 0.12% of Urban Outfitters at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Urban Outfitters in the 3rd quarter worth about $25,000. Hollencrest Capital Management bought a new position in shares of Urban Outfitters during the 2nd quarter worth approximately $26,000. Global Retirement Partners LLC boosted its stake in shares of Urban Outfitters by 158.4% in the 3rd quarter. Global Retirement Partners LLC now owns 460 shares of the apparel retailer's stock worth $33,000 after buying an additional 282 shares during the last quarter. Kilter Group LLC purchased a new position in shares of Urban Outfitters in the 2nd quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC grew its holdings 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 acquiring an additional 274 shares in the last quarter. 77.61% of the stock is currently owned by hedge funds and other institutional investors.

Urban Outfitters Stock Performance

Shares of URBN opened at $63.41 on Monday. Urban Outfitters, Inc. has a fifty-two week low of $41.89 and a fifty-two week high of $84.35. The business has a 50-day moving average of $69.95 and a 200 day moving average of $70.60. The firm has a market cap of $5.69 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.22 and a beta of 1.23.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The apparel retailer reported $1.43 EPS for the quarter, beating the consensus estimate of $1.24 by $0.19. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.79 billion. Urban Outfitters had a net margin of 7.54% and a return on equity of 18.96%. The company's revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 earnings per share. As a group, research analysts predict that Urban Outfitters, Inc. will post 3.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Urban Outfitters news, insider Margaret Hayne sold 9,333 shares of the business's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $70.50, for a total transaction of $657,976.50. Following the sale, the insider owned 1,933,859 shares of the company's stock, valued at $136,337,059.50. The trade was a 0.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard A. Hayne sold 10,667 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $70.50, for a total value of $752,023.50. Following the sale, the chief executive officer owned 17,449,385 shares in the company, valued at approximately $1,230,181,642.50. This represents a 0.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 453,517 shares of company stock worth $33,899,130 over the last 90 days. 31.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley lifted their price target on Urban Outfitters from $85.00 to $91.00 and gave the stock an "overweight" rating in a report on Wednesday, November 26th. Wells Fargo & Company decreased their target price on Urban Outfitters from $80.00 to $75.00 and set an "equal weight" rating for the company in a research report on Thursday, February 26th. The Goldman Sachs Group began coverage on Urban Outfitters in a research note on Tuesday, December 9th. They set a "neutral" rating and a $83.00 target price on the stock. UBS Group reissued a "neutral" rating on shares of Urban Outfitters in a report on Tuesday, January 13th. Finally, Citigroup raised their price objective on shares of Urban Outfitters from $76.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, November 26th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $86.25.

Urban Outfitters 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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