SummitTX Capital L.P. Invests $2.82 Million in Urban Outfitters, Inc. $URBN

Key Points

• SummitTX Capital acquired 44,548 Urban Outfitters shares worth approximately $2.82 million, representing about 0.05% of the company. Institutional investors collectively own 77.61% of Urban Outfitters.
• Analyst sentiment is broadly positive: the stock has a consensus “Moderate Buy” rating and an average price target of $87.91, with Goldman Sachs raising its target to $93.
• Urban Outfitters exceeded quarterly expectations, reporting $1.30 EPS versus the $1.12 estimate and $1.48 billion in revenue, up 11.4% year over year. Shares opened at $75.20, within a 12-month range of $59.53 to $84.35.

SummitTX Capital L.P. acquired a new stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 44,548 shares of the apparel retailer's stock, valued at approximately $2,822,000. SummitTX Capital L.P. owned approximately 0.05% of Urban Outfitters at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jupiter Asset Management Ltd. increased its stake in Urban Outfitters by 33.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,297,452 shares of the apparel retailer's stock worth $97,646,000 after purchasing an additional 327,453 shares during the period. HighTower Advisors LLC boosted its stake in shares of Urban Outfitters by 883.4% in the fourth quarter. HighTower Advisors LLC now owns 43,081 shares of the apparel retailer's stock valued at $3,242,000 after purchasing an additional 38,700 shares during the period. UBS Group AG boosted its stake in shares of Urban Outfitters by 339.3% in the fourth quarter. UBS Group AG now owns 641,454 shares of the apparel retailer's stock valued at $48,276,000 after purchasing an additional 495,441 shares during the period. Virtus Wealth Solutions LLC acquired a new position in shares of Urban Outfitters in the fourth quarter valued at approximately $1,310,000. Finally, PBU The Pension Fund of Early Childhood & Youth Educators acquired a new position in shares of Urban Outfitters in the fourth quarter valued at approximately $7,539,000. Hedge funds and other institutional investors own 77.61% of the company's stock.

Insiders Place Their Bets

In related news, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the sale, the chief financial officer directly owned 17,023 shares in the company, valued at $1,249,828.66. This trade represents a 22.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Azeez Hayne sold 8,733 shares of Urban Outfitters stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $73.18, for a total value of $639,080.94. The disclosure for this sale is available in the SEC filing. Company insiders own 32.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on URBN. Wall Street Zen upgraded shares of Urban Outfitters from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Jefferies Financial Group reaffirmed a "hold" rating and set a $72.00 price objective on shares of Urban Outfitters in a research report on Thursday, May 21st. The Goldman Sachs Group upgraded Urban Outfitters from a "neutral" rating to a "buy" rating and increased their price objective for the company from $76.00 to $93.00 in a research note on Monday, July 20th. Bank of America lifted their target price on Urban Outfitters from $85.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, May 21st. Finally, Zacks Research raised Urban Outfitters from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $87.91.

Urban Outfitters Price Performance

NASDAQ:URBN opened at $75.20 on Wednesday. The firm has a market capitalization of $6.44 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 1.34 and a beta of 1.22. The business's fifty day moving average price is $72.63 and its 200 day moving average price is $69.98. Urban Outfitters, Inc. has a 12 month low of $59.53 and a 12 month high of $84.35.

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

Urban Outfitters 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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