HighTower Advisors LLC Purchases 38,700 Shares of Urban Outfitters, Inc. $URBN

Key Points

• HighTower Advisors LLC increased its stake in Urban Outfitters by 883.4% in the fourth quarter, buying 38,700 additional shares and bringing its total holding to 43,081 shares worth about $3.24 million.
• Urban Outfitters reported better-than-expected quarterly results, posting EPS of $1.30 versus the $1.12 estimate and revenue of $1.48 billion versus $1.46 billion expected. Revenue rose 11.4% year over year.
• Wall Street remains broadly constructive on URBN, with analysts assigning an average Moderate Buy rating and a consensus price target of $87.18, though some firms adjusted targets after earnings.

HighTower Advisors LLC boosted its stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 883.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,081 shares of the apparel retailer's stock after purchasing an additional 38,700 shares during the period. HighTower Advisors LLC's holdings in Urban Outfitters were worth $3,242,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Abacus Wealth Partners LLC acquired a new stake in Urban Outfitters in the fourth quarter valued at approximately $240,000. Leuthold Group LLC acquired a new stake in Urban Outfitters in the fourth quarter valued at approximately $2,967,000. Oregon Public Employees Retirement Fund boosted its position in Urban Outfitters by 1.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,319 shares of the apparel retailer's stock valued at $927,000 after buying an additional 231 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Urban Outfitters in the fourth quarter valued at approximately $346,000. Finally, Swiss Life Asset Management Ltd acquired a new stake in Urban Outfitters in the fourth quarter valued at approximately $411,000. Institutional investors and hedge funds own 77.61% of the company's stock.

Insider Buying and Selling at Urban Outfitters

In other news, CFO Melanie Marein-Efron sold 5,036 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the completion of the sale, the chief financial officer directly owned 17,023 shares in the company, valued at $1,249,828.66. This represents a 22.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Azeez Hayne sold 8,733 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total transaction of $639,080.94. Additional details regarding this sale are available in the official SEC disclosure. 32.10% of the stock is currently owned by company insiders.

Urban Outfitters Stock Performance

URBN stock opened at $72.65 on Friday. The company has a fifty day moving average price of $68.83 and a 200-day moving average price of $70.42. The company has a market capitalization of $6.22 billion, a P/E ratio of 13.94, a PEG ratio of 1.38 and a beta of 1.23. Urban Outfitters, Inc. has a 52-week low of $59.53 and a 52-week high of $84.35.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.18. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 earnings per share. As a group, sell-side analysts forecast that Urban Outfitters, Inc. will post 5.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wells Fargo & Company cut their target price on shares of Urban Outfitters from $80.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 26th. Bank of America raised their target price on shares of Urban Outfitters from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. raised their target price on shares of Urban Outfitters from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, May 21st. Telsey Advisory Group restated an "outperform" rating and issued a $98.00 target price on shares of Urban Outfitters in a research report on Thursday, February 26th. Finally, Barclays cut their target price on shares of Urban Outfitters from $102.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, May 22nd. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Urban Outfitters currently has an average rating of "Moderate Buy" and an average price target of $87.18.

Urban Outfitters Company 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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