Virtus Wealth Solutions LLC Buys Shares of 17,400 Urban Outfitters, Inc. $URBN

Key Points

• Virtus Wealth Solutions purchased a new stake of 17,400 shares of Urban Outfitters (NASDAQ:URBN) in Q4, valued at about $1.31 million, while several other institutions also increased positions and institutional ownership stands at 77.61%.
• Company insiders have been net sellers: CEO Richard A. Hayne sold 10,667 shares (at $70.50) and Margaret Hayne sold 9,333 shares, with insiders selling a total of 133,517 shares worth roughly $9.48 million in the last quarter, and insiders now own 32.10% of the stock.
• Urban Outfitters beat Q4 estimates with EPS of $1.43 vs. $1.24 expected and revenue of $1.80 billion (up 10.1% year-over-year); analysts have a consensus Hold rating and an average price target of $86.25.

Virtus Wealth Solutions LLC purchased a new stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,400 shares of the apparel retailer's stock, valued at approximately $1,310,000.

Several other hedge funds have also recently modified their holdings of the business. Allianz Asset Management GmbH lifted its position in shares of Urban Outfitters by 316.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 187,660 shares of the apparel retailer's stock valued at $13,405,000 after buying an additional 142,600 shares in the last quarter. Broad Peak Investment Advisers Pte Ltd purchased a new stake in shares of Urban Outfitters during the 3rd quarter worth approximately $5,917,000. Oak Harvest Investment Services boosted its position in shares of Urban Outfitters by 203.1% during the 3rd quarter. Oak Harvest Investment Services now owns 30,313 shares of the apparel retailer's stock valued at $2,165,000 after acquiring an additional 20,313 shares during the last quarter. Cinctive Capital Management LP purchased a new position in shares of Urban Outfitters in the third quarter valued at $4,104,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in Urban Outfitters by 17.4% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 279,763 shares of the apparel retailer's stock valued at $19,983,000 after purchasing an additional 41,559 shares in the last quarter. Hedge funds and other institutional investors own 77.61% of the company's stock.

Insider Activity at Urban Outfitters

In other Urban Outfitters news, CEO Richard A. Hayne sold 10,667 shares of the business's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $70.50, for a total transaction of $752,023.50. Following the sale, the chief executive officer directly owned 17,449,385 shares in the company, valued at $1,230,181,642.50. This represents a 0.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Margaret Hayne sold 9,333 shares of the company's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $70.50, for a total transaction of $657,976.50. Following the sale, the insider directly owned 1,933,859 shares in the company, valued at approximately $136,337,059.50. The trade was a 0.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 133,517 shares of company stock valued at $9,482,730 in the last quarter. 32.10% of the stock is owned by insiders.

Urban Outfitters Price Performance

Shares of URBN stock opened at $73.64 on Friday. The stock has a 50 day simple moving average of $66.68 and a 200-day simple moving average of $69.74. Urban Outfitters, Inc. has a 1-year low of $50.19 and a 1-year high of $84.35. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.42 and a beta of 1.20.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The apparel retailer reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.19. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.79 billion. Urban Outfitters had a net margin of 7.54% and a return on equity of 18.96%. The company's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. Analysts anticipate that Urban Outfitters, Inc. will post 5.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on URBN shares. Wells Fargo & Company decreased their target price on shares of Urban Outfitters from $80.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 26th. JPMorgan Chase & Co. decreased their price objective on Urban Outfitters from $96.00 to $94.00 and set an "overweight" rating for the company in a report on Tuesday, January 20th. Wall Street Zen lowered Urban Outfitters from a "buy" rating to a "hold" rating in a research note on Saturday, April 4th. UBS Group reissued a "neutral" rating on shares of Urban Outfitters in a research report on Tuesday, January 13th. Finally, Barclays lifted their price target on shares of Urban Outfitters from $98.00 to $102.00 and gave the stock an "overweight" rating in a report on Friday, January 16th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $86.25.

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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