Great Lakes Advisors LLC Invests $1.68 Million in Urban Outfitters, Inc. $URBN

Key Points

• Great Lakes Advisors purchased 23,746 Urban Outfitters shares worth approximately $1.68 million during the second quarter. Institutional investors collectively own 77.61% of the company.
• Analyst sentiment is favorable, with a consensus “Moderate Buy” rating and an average price target of $89.73; JPMorgan recently raised its target to $110.
• Urban Outfitters reported quarterly earnings of $1.30 per share, exceeding estimates by $0.18, while revenue rose 11.4% year over year to $1.48 billion.

Great Lakes Advisors LLC purchased a new position in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 23,746 shares of the apparel retailer's stock, valued at approximately $1,683,000.

A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Urban Outfitters in the second quarter valued at approximately $615,160,000. Abrams Bison Investments LLC acquired a new position in shares of Urban Outfitters in the fourth quarter valued at approximately $127,114,000. Balyasny Asset Management L.P. lifted its holdings in shares of Urban Outfitters by 5,360.2% during the third quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer's stock worth $44,155,000 after purchasing an additional 606,831 shares during the period. Norges Bank purchased a new stake in Urban Outfitters during the fourth quarter worth about $44,191,000. Finally, UBS Group AG increased its stake in Urban Outfitters by 339.3% in the 4th quarter. UBS Group AG now owns 641,454 shares of the apparel retailer's stock valued at $48,276,000 after purchasing an additional 495,441 shares in the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on URBN shares. The Goldman Sachs Group upgraded shares of Urban Outfitters from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $76.00 to $93.00 in a research report on Monday, July 20th. Weiss Ratings cut Urban Outfitters from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, August 7th. Barclays reduced their target price on shares of Urban Outfitters from $102.00 to $100.00 and set an "overweight" rating on the stock in a report on Friday, May 22nd. JPMorgan Chase & Co. lifted their price target on shares of Urban Outfitters from $97.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Jefferies Financial Group upped their price objective on shares of Urban Outfitters from $72.00 to $79.00 and gave the company a "hold" rating in a research note on Wednesday, August 12th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $89.73.

Urban Outfitters Stock Performance

Shares of NASDAQ URBN opened at $74.24 on Friday. Urban Outfitters, Inc. has a 1 year low of $59.53 and a 1 year high of $84.35. The stock has a fifty day moving average price of $73.72 and a two-hundred day moving average price of $70.62. The firm has a market cap of $6.36 billion, a P/E ratio of 14.25, a PEG ratio of 1.34 and a beta of 1.23.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.18. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter last year, the business posted $1.16 earnings per share. The company's quarterly revenue was up 11.4% on a year-over-year basis. On average, research analysts predict that Urban Outfitters, Inc. will post 6.13 earnings per share for the current fiscal year.

About Urban Outfitters

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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