Shellback Capital LP Sells 14,000 Shares of Urban Outfitters, Inc. $URBN

Key Points

• Shellback Capital LP has reduced its stake in Urban Outfitters by 18.7%, now holding 61,000 shares valued at approximately $3.2 million.
• Other institutional investors like Whipplewood Advisors LLC and Federated Hermes Inc. significantly increased their positions in Urban Outfitters during the first quarter, with Whipplewood boosting its stake by nearly 2,900%.
• Urban Outfitters recently reported a quarterly earnings of $1.58 EPS, surpassing estimates and showing an 11.3% year-over-year revenue increase to $1.50 billion.

Shellback Capital LP cut its position in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 18.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,000 shares of the apparel retailer's stock after selling 14,000 shares during the quarter. Shellback Capital LP owned approximately 0.07% of Urban Outfitters worth $3,196,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC grew its stake in Urban Outfitters by 2,893.8% in the 1st quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock valued at $25,000 after buying an additional 463 shares during the last quarter. Federated Hermes Inc. grew its stake in Urban Outfitters by 17,175.0% in the 1st quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer's stock valued at $36,000 after buying an additional 687 shares during the last quarter. Virtus Advisers LLC acquired a new position in Urban Outfitters in the 1st quarter valued at $46,000. Exchange Traded Concepts LLC acquired a new position in Urban Outfitters in the 1st quarter valued at $52,000. Finally, GAMMA Investing LLC grew its stake in Urban Outfitters by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer's stock valued at $54,000 after buying an additional 263 shares during the last quarter. 77.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Urban Outfitters news, Director Mary Egan sold 1,000 shares of Urban Outfitters stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $70.12, for a total transaction of $70,120.00. Following the completion of the transaction, the director directly owned 14,250 shares of the company's stock, valued at approximately $999,210. This trade represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 31.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on URBN. Barclays restated an "overweight" rating and issued a $89.00 price objective on shares of Urban Outfitters in a research note on Friday, August 29th. UBS Group raised their price objective on shares of Urban Outfitters from $78.00 to $79.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 2nd. Glj Research restated a "sell" rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. Citigroup restated a "neutral" rating and issued a $76.00 price target (up from $75.00) on shares of Urban Outfitters in a research report on Wednesday, August 20th. Finally, Bank of America raised their price target on shares of Urban Outfitters from $90.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $81.91.

Urban Outfitters Stock Performance

Shares of NASDAQ:URBN traded down $2.99 during midday trading on Friday, reaching $68.71. 692,860 shares of the company's stock were exchanged, compared to its average volume of 2,152,438. The company's 50 day simple moving average is $74.01 and its two-hundred day simple moving average is $63.80. The firm has a market capitalization of $6.16 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 1.13 and a beta of 1.29. Urban Outfitters, Inc. has a 12 month low of $34.76 and a 12 month high of $80.71.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The apparel retailer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.14. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the firm earned $1.24 EPS. On average, research analysts anticipate that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Urban Outfitters 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.