Informed Momentum Co LLC Sells 18,005 Shares of Urban Outfitters, Inc. (NASDAQ:URBN)

Key Points

• Informed Momentum Co LLC reduced its position in Urban Outfitters by 22.7%, selling 18,005 shares in the first quarter, leaving them with a total of 61,266 shares valued at $3.21 million.
• Various hedge funds have adjusted their holdings in Urban Outfitters, with some increasing their positions significantly, such as Sterling Capital Management LLC, which increased its holdings by 175.7%.
• Analysts have mixed ratings on Urban Outfitters, with one firm raising the price target from $78.00 to $88.00 while others continue to maintain a "hold" rating, resulting in an average price target of $75.00.

Informed Momentum Co LLC lessened its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 22.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,266 shares of the apparel retailer's stock after selling 18,005 shares during the quarter. Informed Momentum Co LLC owned approximately 0.07% of Urban Outfitters worth $3,210,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. HighTower Advisors LLC bought a new stake in shares of Urban Outfitters during the first quarter worth $241,000. Public Sector Pension Investment Board grew its stake in shares of Urban Outfitters by 27.4% during the first quarter. Public Sector Pension Investment Board now owns 178,507 shares of the apparel retailer's stock worth $9,354,000 after buying an additional 38,337 shares during the last quarter. Nuveen LLC bought a new stake in shares of Urban Outfitters during the first quarter worth $43,769,000. Rezny Wealth Management Inc. bought a new stake in shares of Urban Outfitters during the first quarter worth $1,484,000. Finally, Citigroup Inc. grew its stake in shares of Urban Outfitters by 53.8% during the first quarter. Citigroup Inc. now owns 154,225 shares of the apparel retailer's stock worth $8,081,000 after buying an additional 53,972 shares during the last quarter. Institutional investors own 77.61% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on URBN. BMO Capital Markets set a $76.00 price objective on shares of Urban Outfitters and gave the stock a "market perform" rating in a research note on Thursday, May 22nd. Wall Street Zen cut shares of Urban Outfitters from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Urban Outfitters from $78.00 to $88.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Glj Research reissued a "sell" rating on shares of Urban Outfitters in a research note on Thursday, May 22nd. Finally, Robert W. Baird raised shares of Urban Outfitters from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $75.00 to $90.00 in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $75.00.

Insiders Place Their Bets

In other news, Director Harry S. Cherken, Jr. sold 35,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $74.15, for a total transaction of $2,595,250.00. Following the completion of the transaction, the director directly owned 480,296 shares of the company's stock, valued at $35,613,948.40. This represents a 6.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Melanie Marein-Efron sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $73.36, for a total transaction of $1,467,200.00. Following the transaction, the chief financial officer directly owned 5,036 shares of the company's stock, valued at $369,440.96. This represents a 79.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,156 shares of company stock worth $11,636,158 in the last ninety days. 31.60% of the stock is owned by corporate insiders.

Urban Outfitters Trading Down 2.8%

Shares of URBN traded down $2.20 on Thursday, reaching $77.29. The company's stock had a trading volume of 1,208,036 shares, compared to its average volume of 2,124,997. Urban Outfitters, Inc. has a twelve month low of $33.86 and a twelve month high of $80.71. The stock has a market capitalization of $6.93 billion, a PE ratio of 16.17, a PEG ratio of 1.35 and a beta of 1.44. The firm has a fifty day moving average of $72.79 and a 200-day moving average of $61.30.

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