SG Americas Securities LLC Reduces Stake in Urban Outfitters, Inc. $URBN

Key Points

• SG Americas Securities LLC cut its Urban Outfitters stake by 61.1% in the first quarter, selling 15,700 shares and leaving it with 10,012 shares worth about $634,000.
• Several institutional investors increased their positions, and hedge funds and other institutions own 77.61% of Urban Outfitters’ stock overall.
• Urban Outfitters reported strong quarterly results, with EPS of $1.30 beating estimates and revenue rising 11.4% year over year; analysts currently rate the stock a Moderate Buy with a consensus target price of $87.

SG Americas Securities LLC cut its stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 61.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,012 shares of the apparel retailer's stock after selling 15,700 shares during the quarter. SG Americas Securities LLC's holdings in Urban Outfitters were worth $634,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of URBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Urban Outfitters by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,728 shares of the apparel retailer's stock worth $1,977,000 after purchasing an additional 1,653 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Urban Outfitters by 10.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,668 shares of the apparel retailer's stock valued at $7,476,000 after purchasing an additional 13,554 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Urban Outfitters by 343.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,435 shares of the apparel retailer's stock valued at $177,000 after purchasing an additional 1,886 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Urban Outfitters by 125.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer's stock valued at $36,000 after buying an additional 274 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Urban Outfitters by 14.0% during the 2nd quarter. First Trust Advisors LP now owns 182,547 shares of the apparel retailer's stock worth $13,242,000 after buying an additional 22,393 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company's stock.

Insiders Place Their Bets

In related news, insider Azeez Hayne sold 8,733 shares of the business's 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Melanie Marein-Efron sold 5,036 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $73.42, for a total value of $369,743.12. Following the sale, the chief financial officer owned 17,023 shares in the company, valued at approximately $1,249,828.66. This trade represents a 22.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 32.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

URBN has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target 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. Wall Street Zen upgraded Urban Outfitters from a "hold" rating to a "buy" rating in a research report on Saturday. Barclays cut their target price on Urban Outfitters from $102.00 to $100.00 and set an "overweight" rating for the company in a research note on Friday, May 22nd. Weiss Ratings raised Urban Outfitters from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, June 26th. Finally, Bank of America increased their price target on Urban Outfitters from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $87.00.

Urban Outfitters Stock Performance

NASDAQ URBN opened at $68.21 on Wednesday. The firm has a 50 day simple moving average of $71.94 and a 200-day simple moving average of $70.63. Urban Outfitters, Inc. has a one year low of $59.53 and a one year high of $84.35. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 1.29 and a beta of 1.22.

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, topping the consensus estimate of $1.12 by $0.18. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm earned $1.16 EPS. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts predict that Urban Outfitters, Inc. will post 6.08 EPS 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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