III Capital Management Invests $2.71 Million in Urban Outfitters, Inc. $URBN

Key Points

• III Capital Management purchased 38,294 Urban Outfitters shares worth approximately $2.71 million in the second quarter, making URBN its 21st-largest holding and 0.7% of its portfolio.
• Institutional investors own 77.61% of Urban Outfitters, with several smaller funds also initiating or expanding positions.
• URBN traded at $75.78, while analysts maintained a “Moderate Buy” consensus with an average price target of $89.73; Goldman Sachs recently upgraded the stock to “buy” and raised its target to $93.

III Capital Management purchased a new stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 38,294 shares of the apparel retailer's stock, valued at approximately $2,714,000. Urban Outfitters comprises 0.7% of III Capital Management's portfolio, making the stock its 21st biggest position.

A number of other large investors have also added to or reduced their stakes in the stock. Eurizon Capital SGR S.p.A. purchased a new position in Urban Outfitters in the fourth quarter valued at approximately $27,000. Brown Brothers Harriman & Co. raised its stake in shares of Urban Outfitters by 815.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer's stock valued at $28,000 after buying an additional 326 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Urban Outfitters during the 4th quarter worth $33,000. Allworth Financial LP purchased a new stake in Urban Outfitters in the 2nd quarter worth about $31,000. Finally, Transamerica Financial Advisors LLC increased its holdings in Urban Outfitters by 566.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 440 shares of the apparel retailer's stock worth $33,000 after acquiring an additional 374 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company's stock.

Urban Outfitters Stock Down 0.4%

NASDAQ:URBN opened at $75.78 on Wednesday. Urban Outfitters, Inc. has a twelve month low of $59.53 and a twelve month high of $84.35. The stock has a market cap of $6.49 billion, a P/E ratio of 14.55, a PEG ratio of 1.41 and a beta of 1.23. The business's 50-day moving average price is $73.69 and its two-hundred day moving average price is $70.64.

Wall Street Analyst Weigh In

URBN has been the subject of a number of research reports. Weiss Ratings upgraded shares of Urban Outfitters from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday. Morgan Stanley reiterated an "overweight" rating and issued a $89.00 price objective on shares of Urban Outfitters in a research note on Monday, July 6th. Wall Street Zen upgraded Urban Outfitters from a "hold" rating to a "buy" rating in a research report on Sunday. The Goldman Sachs Group upgraded Urban Outfitters from a "neutral" rating to a "buy" rating and lifted their price target for the company from $76.00 to $93.00 in a research report on Monday, July 20th. Finally, Jefferies Financial Group raised their target price on Urban Outfitters from $72.00 to $79.00 and gave the stock a "hold" rating in a research note on Wednesday, August 12th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $89.73.

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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