Rhumbline Advisers Has $8.89 Million Stake in Urban Outfitters, Inc. $URBN

Key Points

• Rhumbline Advisers sold 5,943 shares of Urban Outfitters in the first quarter, reducing its stake by 3.4% to approximately 0.18% of the company.
• According to analysts, Urban Outfitters has a consensus target price of $81.91 with several upgrades, including a boost from $90.00 to $93.00 by Bank of America.
• Urban Outfitters reported a strong quarterly performance with an earnings per share of $1.58, exceeding expectations, and revenue of $1.50 billion, an increase of 11.3% year-over-year.

Rhumbline Advisers trimmed its stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 3.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 169,647 shares of the apparel retailer's stock after selling 5,943 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Urban Outfitters worth $8,889,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of URBN. BNP Paribas Financial Markets grew its holdings in shares of Urban Outfitters by 24.6% in the 4th quarter. BNP Paribas Financial Markets now owns 91,627 shares of the apparel retailer's stock worth $5,028,000 after acquiring an additional 18,074 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Urban Outfitters by 15.0% in the 4th quarter. Cetera Investment Advisers now owns 15,435 shares of the apparel retailer's stock worth $847,000 after acquiring an additional 2,009 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Urban Outfitters in the 4th quarter worth $240,000. Deutsche Bank AG grew its holdings in shares of Urban Outfitters by 280.6% during the fourth quarter. Deutsche Bank AG now owns 140,466 shares of the apparel retailer's stock valued at $7,709,000 after buying an additional 103,564 shares in the last quarter. Finally, Focus Partners Wealth purchased a new position in shares of Urban Outfitters during the fourth quarter valued at $227,000. 77.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mary Egan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $70.12, for a total value of $70,120.00. Following the completion of the transaction, the director directly owned 14,250 shares of the company's stock, valued at approximately $999,210. This represents a 6.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 31.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Barclays reiterated an "overweight" rating and set a $89.00 price target on shares of Urban Outfitters in a report on Friday, August 29th. UBS Group lifted their price target on Urban Outfitters from $78.00 to $79.00 and gave the company a "neutral" rating in a report on Tuesday, September 2nd. Robert W. Baird upgraded Urban Outfitters from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $75.00 to $90.00 in a report on Wednesday, June 11th. Citigroup reiterated a "neutral" rating and set a $76.00 price target (up previously from $75.00) on shares of Urban Outfitters in a report on Wednesday, August 20th. Finally, Morgan Stanley lifted their price target on Urban Outfitters from $82.00 to $84.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Urban Outfitters currently has a consensus rating of "Hold" and an average target price of $81.91.

Urban Outfitters Stock Down 3.5%

Shares of URBN stock traded down $2.49 during mid-day trading on Tuesday, reaching $69.49. The stock had a trading volume of 575,729 shares, compared to its average volume of 2,147,337. The firm's 50 day simple moving average is $73.92 and its 200 day simple moving average is $64.12. Urban Outfitters, Inc. has a one year low of $34.76 and a one year high of $80.71. The firm has a market cap of $6.23 billion, a PE ratio of 13.58, a P/E/G ratio of 1.09 and a beta of 1.29.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The apparel retailer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.14. Urban Outfitters had a return on equity of 18.43% and a net margin of 8.15%.The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company earned $1.24 EPS. The company's quarterly revenue was up 11.3% on a year-over-year basis. Sell-side analysts forecast that Urban Outfitters, Inc. will post 3.91 earnings per share 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.