Picton Mahoney Asset Management Buys 7,251 Shares of Urban Outfitters, Inc. (NASDAQ:URBN)

Picton Mahoney Asset Management lifted its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 22,659.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,283 shares of the apparel retailer's stock after purchasing an additional 7,251 shares during the quarter. Picton Mahoney Asset Management's holdings in Urban Outfitters were worth $382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Whipplewood Advisors LLC lifted its position in Urban Outfitters by 2,893.8% in the first quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock valued at $25,000 after purchasing an additional 463 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Urban Outfitters in the 1st quarter worth $52,000. GAMMA Investing LLC grew its stake in shares of Urban Outfitters by 34.7% in the first quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer's stock worth $54,000 after acquiring an additional 263 shares during the period. Covestor Ltd lifted its holdings in shares of Urban Outfitters by 159.5% during the 4th quarter. Covestor Ltd now owns 2,753 shares of the apparel retailer's stock valued at $151,000 after buying an additional 1,692 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Urban Outfitters during the 4th quarter valued at about $173,000. Hedge funds and other institutional investors own 77.61% of the company's stock.

Insider Buying and Selling

In other news, CEO Tricia D. Smith sold 4,500 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $70.52, for a total value of $317,340.00. Following the completion of the sale, the chief executive officer directly owned 13,477 shares of the company's stock, valued at $950,398.04. This represents a 25.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Margaret Hayne sold 80,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $72.59, for a total transaction of $5,807,200.00. Following the sale, the insider owned 100 shares in the company, valued at $7,259. This trade represents a 99.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 159,156 shares of company stock valued at $11,636,158. 31.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on URBN. Wells Fargo & Company reiterated an "equal weight" rating on shares of Urban Outfitters in a research note on Thursday, May 22nd. Wall Street Zen lowered Urban Outfitters from a "strong-buy" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. boosted their price target on Urban Outfitters from $78.00 to $88.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Morgan Stanley lifted their price objective on shares of Urban Outfitters from $62.00 to $77.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Finally, Glj Research reaffirmed a "sell" rating on shares of Urban Outfitters in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $75.00.

Urban Outfitters Stock Up 2.4%

NASDAQ:URBN traded up $1.86 during trading hours on Monday, reaching $78.07. 605,553 shares of the stock were exchanged, compared to its average volume of 2,148,630. The firm has a 50 day simple moving average of $71.87 and a 200-day simple moving average of $60.20. Urban Outfitters, Inc. has a 52 week low of $33.86 and a 52 week high of $78.84. The stock has a market capitalization of $7.00 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.31 and a beta of 1.44.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, topping the consensus estimate of $0.81 by $0.35. The firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.29 billion. Urban Outfitters had a return on equity of 17.98% and a net margin of 7.91%. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 earnings per share. As a group, analysts expect that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.