Urban Outfitters, Inc. $URBN Shares Bought by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd boosted its Urban Outfitters stake by 110.1% in the first quarter, ending with 100,480 shares valued at about $6.37 million.
• Urban Outfitters reported strong fiscal Q1 results, with EPS of $1.30 topping estimates and revenue of $1.48 billion, up 11.4% year over year.
• Analysts remain cautiously upbeat: several firms raised targets or ratings, and the stock now has a Moderate Buy consensus with an average price target of $87.18.

Y Intercept Hong Kong Ltd raised its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 110.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,480 shares of the apparel retailer's stock after purchasing an additional 52,645 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.12% of Urban Outfitters worth $6,365,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Cinctive Capital Management LP acquired a new position in Urban Outfitters in the 3rd quarter worth approximately $4,104,000. HighTower Advisors LLC lifted its stake in Urban Outfitters by 883.4% during the 4th quarter. HighTower Advisors LLC now owns 43,081 shares of the apparel retailer's stock valued at $3,242,000 after acquiring an additional 38,700 shares during the period. Jupiter Asset Management Ltd. lifted its stake in Urban Outfitters by 33.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 1,297,452 shares of the apparel retailer's stock valued at $97,646,000 after acquiring an additional 327,453 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Urban Outfitters by 4.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,675,936 shares of the apparel retailer's stock valued at $262,578,000 after acquiring an additional 142,909 shares during the last quarter. Finally, Braun Stacey Associates Inc. purchased a new stake in shares of Urban Outfitters in the 4th quarter valued at $19,366,000. 77.61% of the stock is owned by institutional investors and hedge funds.

Urban Outfitters Price Performance

NASDAQ:URBN opened at $70.72 on Friday. The company has a 50 day moving average price of $72.14 and a 200-day moving average price of $70.89. Urban Outfitters, Inc. has a 1-year low of $59.53 and a 1-year high of $84.35. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22.

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 firm had revenue of $1.48 billion for 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%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 earnings per share. On average, sell-side analysts anticipate that Urban Outfitters, Inc. will post 6.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on URBN shares. Bank of America raised their target price on shares of Urban Outfitters from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. Weiss Ratings raised shares of Urban Outfitters from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, June 26th. JPMorgan Chase & Co. increased their price target on Urban Outfitters from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, May 21st. Wall Street Zen upgraded Urban Outfitters from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $72.00 price objective on shares of Urban Outfitters in a report on Thursday, May 21st. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $87.18.

Insider Transactions at Urban Outfitters

In related news, CFO Melanie Marein-Efron sold 5,036 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $73.42, for a total value of $369,743.12. Following the completion of the transaction, the chief financial officer owned 17,023 shares of the company's stock, valued at approximately $1,249,828.66. This represents a 22.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $639,080.94. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 32.10% of the company's stock.

About Urban Outfitters

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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