Urban Outfitters, Inc. $URBN Shares Sold by Hillsdale Investment Management Inc.

Key Points

• Hillsdale Investment Management cut its Urban Outfitters stake by 48% in the first quarter, selling 47,900 shares and leaving it with 51,800 shares worth about $3.28 million.
• Urban Outfitters reported strong fiscal Q1 results, with earnings of $1.30 per share and revenue of $1.48 billion, both ahead of analyst expectations. Revenue rose 11.4% year over year.
• Despite some insider and institutional selling, Wall Street remains cautiously positive: the stock has a Moderate Buy consensus rating with an average price target of $87, above its recent trading price near $72.95.

Hillsdale Investment Management Inc. reduced its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 48.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,800 shares of the apparel retailer's stock after selling 47,900 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.06% of Urban Outfitters worth $3,282,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Urban Outfitters in the fourth quarter valued at about $27,000. Brown Brothers Harriman & Co. grew its position in Urban Outfitters by 815.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer's stock worth $28,000 after buying an additional 326 shares during the period. Salomon & Ludwin LLC grew its position in Urban Outfitters by 58.4% during the fourth quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer's stock worth $31,000 after buying an additional 149 shares during the period. Spire Wealth Management increased its holdings 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 buying an additional 200 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its holdings in Urban Outfitters by 90.3% in the fourth quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer's stock valued at $33,000 after buying an additional 205 shares in the last quarter. 77.61% of the stock is owned by institutional investors and hedge funds.

Urban Outfitters Price Performance

Shares of Urban Outfitters stock opened at $72.95 on Thursday. Urban Outfitters, Inc. has a 1 year low of $59.53 and a 1 year high of $84.35. The company has a market capitalization of $6.25 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.30 and a beta of 1.22. The business has a 50 day moving average price of $71.86 and a 200 day moving average price of $70.22.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its earnings results on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.18. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.46 billion. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.Urban Outfitters's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS. As a group, research analysts expect that Urban Outfitters, Inc. will post 6.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on URBN shares. Wall Street Zen raised Urban Outfitters from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Morgan Stanley reaffirmed an "overweight" rating and set a $89.00 price objective on shares of Urban Outfitters in a report on Monday, July 6th. Barclays decreased their target price 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. JPMorgan Chase & Co. upped their target price on Urban Outfitters from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, May 21st. Finally, Jefferies Financial Group restated a "hold" rating and issued a $72.00 price target on shares of Urban Outfitters in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $87.00.

Insider Buying and Selling at Urban Outfitters

In related news, insider Azeez Hayne sold 8,733 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total transaction of $639,080.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters 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 sale, 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 SEC filing for this sale provides additional information. 32.10% of the stock is owned by corporate insiders.

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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