Easterly Investment Partners LLC Sells 13,112 Shares of Urban Outfitters, Inc. $URBN

Key Points

• Easterly Investment Partners LLC sold 13,112 shares of Urban Outfitters, Inc., reducing its holdings by 10% and retaining 118,190 shares valued at approximately $8.57 million.
• Urban Outfitters reported a Q2 earnings surprise with an EPS of $1.58, exceeding analysts' expectations of $1.44, alongside a revenue increase of 11.3% year-over-year.
• Several analysts have upgraded their price targets for Urban Outfitters, with JPMorgan increasing theirs from $88 to $89, indicating positive market sentiment towards the stock.

Easterly Investment Partners LLC cut its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 10.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,190 shares of the apparel retailer's stock after selling 13,112 shares during the quarter. Easterly Investment Partners LLC owned approximately 0.13% of Urban Outfitters worth $8,574,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of URBN. American Century Companies Inc. lifted its stake in shares of Urban Outfitters by 11.2% during the 1st quarter. American Century Companies Inc. now owns 2,322,526 shares of the apparel retailer's stock valued at $121,700,000 after buying an additional 233,371 shares in the last quarter. Junto Capital Management LP grew its stake in Urban Outfitters by 16.5% in the 1st quarter. Junto Capital Management LP now owns 1,728,447 shares of the apparel retailer's stock valued at $90,571,000 after buying an additional 244,801 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Urban Outfitters by 27.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,397,175 shares of the apparel retailer's stock valued at $73,212,000 after acquiring an additional 302,444 shares during the period. Nuveen LLC bought a new stake in Urban Outfitters during the 1st quarter valued at $43,769,000. Finally, Panagora Asset Management Inc. lifted its position in shares of Urban Outfitters by 5.7% during the first quarter. Panagora Asset Management Inc. now owns 367,013 shares of the apparel retailer's stock worth $19,231,000 after acquiring an additional 19,934 shares in the last quarter. Hedge funds and other institutional investors own 77.61% of the company's stock.

Urban Outfitters Price Performance

Shares of NASDAQ:URBN opened at $66.60 on Friday. The company's fifty day moving average price is $72.24 and its 200-day moving average price is $66.89. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.07 and a beta of 1.26. Urban Outfitters, Inc. has a one year low of $34.76 and a one year high of $80.71.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its earnings results 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 business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The firm's revenue was up 11.3% on a year-over-year basis. As a group, equities research analysts expect that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

Analyst Upgrades and Downgrades

URBN has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Urban Outfitters from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Wells Fargo & Company boosted their price objective on shares of Urban Outfitters from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Thursday, August 28th. Citigroup reiterated a "neutral" rating and issued a $76.00 target price (up from $75.00) on shares of Urban Outfitters in a research note on Wednesday, August 20th. Zacks Research upgraded shares of Urban Outfitters from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Finally, Telsey Advisory Group upped their price target on shares of Urban Outfitters from $72.00 to $80.00 and gave the stock a "market perform" rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $81.91.

Insider Activity at Urban Outfitters

In other Urban Outfitters news, CEO Richard A. Hayne sold 10,667 shares of Urban Outfitters stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $70.46, for a total transaction of $751,596.82. Following the transaction, the chief executive officer directly owned 18,027,939 shares of the company's stock, valued at approximately $1,270,248,581.94. This trade represents a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tricia D. Smith sold 3,400 shares of the company's stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $69.77, for a total transaction of $237,218.00. Following the completion of the sale, the chief executive officer directly owned 10,077 shares of the company's stock, valued at $703,072.29. This trade represents a 25.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,400 shares of company stock valued at $3,118,738. Corporate insiders own 31.60% of the company's stock.

Urban Outfitters 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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