Urban Outfitters, Inc. $URBN Position Lessened by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its stake in Urban Outfitters by 44.7% in the first quarter, selling 30,413 shares and leaving it with 37,652 shares worth about $2.36 million.
• Urban Outfitters reported strong quarterly results, beating earnings and revenue expectations with EPS of $1.30 versus $1.12 expected and revenue of $1.48 billion, up 11.4% year over year.
• Insiders sold shares recently, including Azeez Hayne and CFO Melanie Marein-Efron, even as analysts turned more positive; Goldman Sachs upgraded the stock to buy and lifted its price target to $93.

Hsbc Holdings PLC decreased its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 44.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,652 shares of the apparel retailer's stock after selling 30,413 shares during the period. Hsbc Holdings PLC's holdings in Urban Outfitters were worth $2,356,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of URBN. Maryland State Retirement & Pension System raised its stake in shares of Urban Outfitters by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 7,880 shares of the apparel retailer's stock worth $593,000 after purchasing an additional 148 shares in the last quarter. Salomon & Ludwin LLC grew its stake in shares of Urban Outfitters by 58.4% in the 4th quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer's stock valued at $31,000 after buying an additional 149 shares in the last quarter. GAMMA Investing LLC raised its position in Urban Outfitters by 8.0% during the fourth quarter. GAMMA Investing LLC now owns 2,088 shares of the apparel retailer's stock valued at $157,000 after acquiring an additional 154 shares in the last quarter. Lido Advisors LLC raised its position in Urban Outfitters by 2.7% during the fourth quarter. Lido Advisors LLC now owns 7,367 shares of the apparel retailer's stock valued at $533,000 after acquiring an additional 193 shares in the last quarter. Finally, Spire Wealth Management lifted its stake in Urban Outfitters by 83.3% in the fourth quarter. Spire Wealth Management now owns 440 shares of the apparel retailer's stock valued at $33,000 after acquiring an additional 200 shares during the last quarter. 77.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Urban Outfitters

In related news, insider Azeez Hayne sold 8,733 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total transaction of $639,080.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Melanie Marein-Efron sold 5,036 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $73.42, for a total value of $369,743.12. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 32.10% of the company's stock.

Urban Outfitters Stock Up 0.5%

NASDAQ:URBN opened at $69.97 on Friday. The company's 50 day moving average is $72.44 and its 200-day moving average is $70.12. Urban Outfitters, Inc. has a 12 month low of $59.53 and a 12 month high of $84.35. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 1.29 and a beta of 1.22.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on URBN. Jefferies Financial Group restated a "hold" rating and set a $72.00 price target on shares of Urban Outfitters in a research note on Thursday, May 21st. Morgan Stanley reaffirmed an "overweight" rating and issued a $89.00 price objective on shares of Urban Outfitters in a research note on Monday, July 6th. Weiss Ratings raised shares of Urban Outfitters from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, June 26th. The Goldman Sachs Group upgraded Urban Outfitters from a "neutral" rating to a "buy" rating and raised their target price for the company from $76.00 to $93.00 in a report on Monday, July 20th. Finally, Bank of America boosted their price target on Urban Outfitters from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $87.91.

Urban Outfitters Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.