Truvestments Capital LLC Takes $943,000 Position in Urban Outfitters, Inc. $URBN

Key Points

• Truvestments Capital LLC has acquired a new stake in Urban Outfitters, buying 17,993 shares valued at approximately $943,000.
• Significant increases in stakes were also reported by other institutional investors, including Whipplewood Advisors and Federated Hermes, which raised their positions by 2,893.8% and 17,175.0% respectively.
• Urban Outfitters' stock is currently trading at $76.26, with analysts providing a mixed outlook, including a buy rating from Bank of America and a revised price target range up to $80.00.

Truvestments Capital LLC purchased a new stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 17,993 shares of the apparel retailer's stock, valued at approximately $943,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC raised its stake in shares of 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 acquiring an additional 463 shares during the period. Federated Hermes Inc. raised its stake in shares of 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 acquiring an additional 687 shares during the period. Virtus Advisers LLC purchased a new stake in shares of Urban Outfitters in the 1st quarter valued at approximately $46,000. Exchange Traded Concepts LLC purchased a new stake in shares of Urban Outfitters in the 1st quarter valued at approximately $52,000. Finally, GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 263 shares during the period. 77.61% of the stock is owned by hedge funds and other institutional investors.

Urban Outfitters Stock Down 0.3%

Shares of Urban Outfitters stock opened at $76.26 on Wednesday. Urban Outfitters, Inc. has a 52-week low of $33.86 and a 52-week high of $80.71. The company has a 50 day moving average of $73.96 and a 200 day moving average of $62.61. The company has a market capitalization of $6.84 billion, a P/E ratio of 15.95, a P/E/G ratio of 1.32 and a beta of 1.44.

Insider Buying and Selling

In related news, insider Margaret Hayne sold 80,000 shares of Urban Outfitters stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $72.59, for a total value of $5,807,200.00. Following the completion of the transaction, the insider owned 100 shares in the company, valued at $7,259. The trade was a 99.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tricia D. Smith sold 4,500 shares of Urban Outfitters stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $70.52, for a total transaction of $317,340.00. Following the completion of the transaction, the chief executive officer owned 13,477 shares of the company's stock, valued at $950,398.04. This represents a 25.03% decrease in their position. The disclosure for this sale can be found here. 31.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

URBN has been the topic of a number of research analyst reports. Bank of America boosted their price target on shares of Urban Outfitters from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Baird R W upgraded shares of Urban Outfitters from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 11th. UBS Group lifted their price objective on shares of Urban Outfitters from $75.00 to $78.00 and gave the company a "neutral" rating in a report on Tuesday, August 19th. 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 report on Thursday, May 22nd. Finally, Barclays lifted their price objective on shares of Urban Outfitters from $59.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $77.27.

About Urban Outfitters

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.