Oliver Luxxe Assets LLC Trims Position in Urban Outfitters, Inc. $URBN

Key Points

• Oliver Luxxe Assets LLC cut its Urban Outfitters stake by 42.1% in the second quarter, selling 18,444 shares and retaining 25,354 shares valued at approximately $1.8 million. Institutional investors collectively own 77.61% of the company.
• Urban Outfitters reported a quarterly earnings beat, with EPS of $1.30 versus estimates of $1.12, while revenue rose 11.4% year over year to $1.48 billion.
• Analyst sentiment remains positive overall: the stock has a “Moderate Buy” consensus rating and an average price target of $87.91, above its reported opening price of $76.92.

Oliver Luxxe Assets LLC trimmed its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 42.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,354 shares of the apparel retailer's stock after selling 18,444 shares during the period. Oliver Luxxe Assets LLC's holdings in Urban Outfitters were worth $1,797,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. purchased a new stake in Urban Outfitters in the 4th quarter worth $27,000. Brown Brothers Harriman & Co. lifted its position 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 acquiring an additional 326 shares in the last quarter. Salomon & Ludwin LLC lifted its position in shares of Urban Outfitters by 58.4% in the fourth quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer's stock valued at $31,000 after acquiring an additional 149 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in shares of Urban Outfitters by 90.3% in the fourth quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer's stock worth $33,000 after acquiring an additional 205 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Urban Outfitters in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 77.61% of the company's stock.

Insider Activity at Urban Outfitters

In other news, CFO Melanie Marein-Efron sold 5,036 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.42, for a total transaction of $369,743.12. Following the completion of the transaction, the chief financial officer directly owned 17,023 shares in the company, valued at approximately $1,249,828.66. This represents a 22.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Azeez Hayne sold 8,733 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total transaction of $639,080.94. The SEC filing for this sale provides additional information. 32.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on URBN. JPMorgan Chase & Co. lifted their target price on Urban Outfitters from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, May 21st. Jefferies Financial Group reaffirmed a "hold" rating and set a $72.00 price objective on shares of Urban Outfitters in a report on Thursday, May 21st. Weiss Ratings cut shares of Urban Outfitters from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday. Morgan Stanley reissued an "overweight" rating and issued a $89.00 target price on shares of Urban Outfitters in a report on Monday, July 6th. Finally, Wall Street Zen upgraded shares of Urban Outfitters from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $87.91.

Urban Outfitters Stock Performance

NASDAQ:URBN opened at $76.92 on Monday. The company has a market capitalization of $6.59 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.42 and a beta of 1.23. Urban Outfitters, Inc. has a 12 month low of $59.53 and a 12 month high of $84.35. The business's 50-day moving average is $73.12 and its 200 day moving average is $70.17.

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

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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