Urban Outfitters, Inc. $URBN Stake Reduced by Renaissance Technologies LLC

Key Points

• Renaissance Technologies cut its Urban Outfitters stake by 45.9% in the first quarter, selling 227,900 shares and retaining 268,600 shares valued at approximately $17 million. Institutional investors collectively own 77.61% of the company.
• Urban Outfitters reported stronger-than-expected quarterly results, with EPS of $1.30 versus the $1.12 consensus estimate and revenue of $1.48 billion, up 11.4% year over year.
• Analyst sentiment remains positive: the stock has a consensus “Moderate Buy” rating and an average price target of $87.91, while Goldman Sachs upgraded it to “buy” with a $93 target.

Renaissance Technologies LLC trimmed its holdings in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 45.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 268,600 shares of the apparel retailer's stock after selling 227,900 shares during the quarter. Renaissance Technologies LLC owned 0.31% of Urban Outfitters worth $17,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in URBN. Jupiter Asset Management Ltd. increased its stake in Urban Outfitters by 33.8% in 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 buying an additional 327,453 shares during the period. HighTower Advisors LLC boosted its stake in shares of Urban Outfitters by 883.4% during the 4th quarter. HighTower Advisors LLC now owns 43,081 shares of the apparel retailer's stock worth $3,242,000 after acquiring an additional 38,700 shares in the last quarter. UBS Group AG boosted its position in 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. Virtus Wealth Solutions LLC acquired a new stake in Urban Outfitters in the 4th quarter valued at about $1,310,000. Finally, PBU The Pension Fund of Early Childhood & Youth Educators acquired a new stake in shares of Urban Outfitters in the fourth quarter valued at approximately $7,539,000. Institutional investors own 77.61% of the company's stock.

Insider Buying and Selling at Urban Outfitters

In related news, insider Azeez Hayne sold 8,733 shares of Urban Outfitters stock in a transaction on Friday, May 22nd. The shares were 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 accessible through this hyperlink. Also, CFO Melanie Marein-Efron sold 5,036 shares of the company's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.42, for a total transaction of $369,743.12. Following the sale, the chief financial officer directly owned 17,023 shares of the company's stock, valued at approximately $1,249,828.66. This trade represents a 22.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 32.10% of the stock is owned by corporate insiders.

Urban Outfitters Price Performance

Urban Outfitters stock opened at $75.74 on Friday. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. Urban Outfitters, Inc. has a 12 month low of $59.53 and a 12 month high of $84.35. The stock's 50-day moving average is $72.74 and its 200-day moving average is $69.90.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its 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. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company earned $1.16 EPS. The company's revenue was up 11.4% on a year-over-year basis. Research analysts anticipate that Urban Outfitters, Inc. will post 6.13 EPS for the current year.

Analyst Upgrades and Downgrades

URBN has been the subject of a number of recent research reports. The Goldman Sachs Group upgraded Urban Outfitters from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $76.00 to $93.00 in a research report on Monday, July 20th. JPMorgan Chase & Co. raised their price target on shares of Urban Outfitters from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Zacks Research raised shares of Urban Outfitters from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. Jefferies Financial Group restated a "hold" rating and set a $72.00 target price on shares of Urban Outfitters in a research report on Thursday, May 21st. Finally, Bank of America lifted their target price on shares of Urban Outfitters from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.

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