Urban Outfitters, Inc. $URBN Stock Position Cut by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management reduced its stake in Urban Outfitters, Inc. by 31.9% during Q2, now owning 526,711 shares valued at approximately $38.21 million.
• Institutional investors currently hold 77.61% of Urban Outfitters’ stock, with several firms like Diversified Trust Co and Wealth Enhancement Advisory Services LLC also adjusting their stakes during the same quarter.
• Urban Outfitters reported earnings of $1.58 EPS for the last quarter, exceeding estimates and showing an 11.3% revenue growth year-over-year, with a market cap of $6.41 billion.

Wedge Capital Management L L P NC decreased its position in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 31.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 526,711 shares of the apparel retailer's stock after selling 247,032 shares during the period. Wedge Capital Management L L P NC owned about 0.59% of Urban Outfitters worth $38,208,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of URBN. Diversified Trust Co boosted its holdings in Urban Outfitters by 0.9% in the 2nd quarter. Diversified Trust Co now owns 19,702 shares of the apparel retailer's stock valued at $1,429,000 after purchasing an additional 185 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Urban Outfitters by 2.0% in the 1st quarter. GSA Capital Partners LLP now owns 10,401 shares of the apparel retailer's stock valued at $545,000 after purchasing an additional 203 shares during the last quarter. Xponance Inc. boosted its holdings in Urban Outfitters by 4.9% in the 1st quarter. Xponance Inc. now owns 4,782 shares of the apparel retailer's stock valued at $251,000 after purchasing an additional 222 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Urban Outfitters by 1.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 19,288 shares of the apparel retailer's stock valued at $1,011,000 after purchasing an additional 228 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Urban Outfitters by 16.4% in the 1st quarter. US Bancorp DE now owns 1,855 shares of the apparel retailer's stock valued at $97,000 after purchasing an additional 262 shares during the last quarter. Institutional investors and hedge funds own 77.61% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on URBN shares. Barclays reissued an "overweight" rating and issued a $89.00 price target on shares of Urban Outfitters in a research note on Friday, August 29th. Wall Street Zen raised shares of Urban Outfitters from a "buy" rating to a "strong-buy" rating in a research note on Saturday. UBS Group upped their target price on shares of Urban Outfitters from $78.00 to $79.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 2nd. Robert W. Baird raised shares of Urban Outfitters from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $75.00 to $90.00 in a research report on Wednesday, June 11th. Finally, Citigroup reissued a "neutral" rating and issued a $76.00 price objective (up from $75.00) on shares of Urban Outfitters in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $81.91.

Urban Outfitters Trading Down 0.2%

Shares of Urban Outfitters stock traded down $0.17 during mid-day trading on Friday, hitting $71.41. 2,448,865 shares of the stock were exchanged, compared to its average volume of 2,321,656. Urban Outfitters, Inc. has a twelve month low of $34.76 and a twelve month high of $80.71. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 1.14 and a beta of 1.29. The company has a 50-day simple moving average of $73.85 and a 200 day simple moving average of $64.52.

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

Insiders Place Their Bets

In other Urban Outfitters news, Director Mary Egan sold 1,000 shares of Urban Outfitters stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $70.12, for a total transaction of $70,120.00. Following the transaction, the director directly owned 14,250 shares of the company's stock, valued at $999,210. The trade was a 6.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 31.80% of the stock is currently owned by company insiders.

Urban Outfitters 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.