Engineers Gate Manager LP Buys 290,698 Shares of Urban Outfitters, Inc. $URBN

Key Points

• Engineers Gate Manager LP increased its Urban Outfitters stake by 211.4%, purchasing 290,698 shares to bring its holdings to 428,227 shares valued at approximately $30.3 million.
• Institutional ownership remains substantial at 77.61%, with BlackRock and California State Teachers Retirement System among investors making significant additions during the period.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and a consensus price target of $89.75; the company also reported 10.4% year-over-year revenue growth in its latest quarter.

Engineers Gate Manager LP grew its stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 211.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 428,227 shares of the apparel retailer's stock after buying an additional 290,698 shares during the quarter. Engineers Gate Manager LP owned approximately 0.50% of Urban Outfitters worth $30,344,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in URBN. BlackRock Inc. purchased a new stake in Urban Outfitters in the 2nd quarter worth approximately $615,160,000. California State Teachers Retirement System raised its stake in Urban Outfitters by 6,498.9% during the 2nd quarter. California State Teachers Retirement System now owns 4,540,851 shares of the apparel retailer's stock worth $321,765,000 after acquiring an additional 4,472,039 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Urban Outfitters by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,313,938 shares of the apparel retailer's stock valued at $273,274,000 after purchasing an additional 338,622 shares in the last quarter. Abrams Bison Investments LLC purchased a new position in Urban Outfitters during the fourth quarter valued at approximately $127,114,000. Finally, Geode Capital Management LLC boosted its position in shares of Urban Outfitters by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 1,507,027 shares of the apparel retailer's stock worth $113,434,000 after purchasing an additional 35,244 shares during the period. 77.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group raised their price objective on shares of Urban Outfitters from $80.00 to $82.00 and gave the company a "neutral" rating in a research report on Thursday, August 27th. Jefferies Financial Group upped their target price on shares of Urban Outfitters from $72.00 to $79.00 and gave the stock a "hold" rating in a report on Wednesday, August 12th. Morgan Stanley reiterated an "overweight" rating and issued a $90.00 price target on shares of Urban Outfitters in a research note on Thursday, August 27th. Wall Street Zen cut Urban Outfitters from a "buy" rating to a "hold" rating in a report on Monday, August 31st. Finally, The Goldman Sachs Group raised Urban Outfitters from a "neutral" rating to a "buy" rating and raised their price target for the company from $76.00 to $93.00 in a report on Monday, July 20th. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.75.

Insiders Place Their Bets

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 5,700 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $80.75, for a total transaction of $460,275.00. Following the completion of the transaction, the chief financial officer owned 11,323 shares in the company, valued at $914,332.25. This trade represents a 33.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 32.10% of the company's stock.

Urban Outfitters Trading Down 2.3%

NASDAQ:URBN opened at $77.58 on Thursday. The company has a market capitalization of $6.64 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.25 and a beta of 1.26. Urban Outfitters, Inc. has a 12 month low of $59.53 and a 12 month high of $85.43. The business's 50-day moving average is $75.33 and its 200 day moving average is $71.39.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings results on Thursday, August 27th. The apparel retailer reported $1.72 earnings per share for the quarter, meeting the consensus estimate of $1.72. Urban Outfitters had a return on equity of 18.64% and a net margin of 8.79%.The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter last year, the business posted $1.58 EPS. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, research analysts forecast that Urban Outfitters, Inc. will post 6.16 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.