Urban Outfitters, Inc. $URBN Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC cut its Urban Outfitters stake by 28.6% in the second quarter, selling 92,588 shares and retaining 230,970 shares valued at approximately $16.4 million. Institutional investors collectively own 77.61% of the company.
• Urban Outfitters shares opened at $76.05, with a market capitalization of $6.51 billion and a one-year trading range of $59.53 to $84.35.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $89.73; Goldman Sachs upgraded the stock to “buy” with a $93 target, while other firms issued mostly hold or overweight ratings.

Algert Global LLC decreased its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 28.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 230,970 shares of the apparel retailer's stock after selling 92,588 shares during the quarter. Algert Global LLC owned approximately 0.27% of Urban Outfitters worth $16,367,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in URBN. BlackRock Inc. acquired a new stake in Urban Outfitters during the 2nd quarter worth $615,160,000. Abrams Bison Investments LLC acquired a new position in Urban Outfitters in the fourth quarter valued at $127,114,000. Balyasny Asset Management L.P. boosted its stake in Urban Outfitters by 5,360.2% in the third quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer's stock valued at $44,155,000 after acquiring an additional 606,831 shares in the last quarter. Norges Bank purchased a new position in shares of Urban Outfitters during the fourth quarter worth about $44,191,000. Finally, UBS Group AG increased its position in shares of Urban Outfitters by 339.3% during the fourth quarter. UBS Group AG now owns 641,454 shares of the apparel retailer's stock worth $48,276,000 after purchasing an additional 495,441 shares in the last quarter. 77.61% of the stock is currently owned by hedge funds and other institutional investors.

Urban Outfitters Stock Performance

Urban Outfitters stock opened at $76.05 on Tuesday. The company has a market cap of $6.51 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 1.37 and a beta of 1.23. Urban Outfitters, Inc. has a one year low of $59.53 and a one year high of $84.35. The business has a fifty day moving average of $73.70 and a two-hundred day moving average of $70.63.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on URBN shares. The Goldman Sachs Group raised Urban Outfitters from a "neutral" rating to a "buy" rating and boosted their target price for the company from $76.00 to $93.00 in a report on Monday, July 20th. Zacks Research downgraded Urban Outfitters from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 14th. Barclays cut their price target on Urban Outfitters from $102.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, May 22nd. Jefferies Financial Group increased their price objective on Urban Outfitters from $72.00 to $79.00 and gave the company a "hold" rating in a report on Wednesday, August 12th. Finally, Morgan Stanley restated an "overweight" rating and set a $89.00 target price on shares of Urban Outfitters in a research report on Monday, July 6th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.73.

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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