Wedge Capital Management L L P NC Purchases Shares of 773,743 Urban Outfitters, Inc. (NASDAQ:URBN)

Wedge Capital Management L L P NC acquired a new stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 773,743 shares of the apparel retailer's stock, valued at approximately $40,544,000. Wedge Capital Management L L P NC owned approximately 0.84% of Urban Outfitters at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in URBN. Whipplewood Advisors LLC boosted its stake in shares of Urban Outfitters by 2,893.8% in the first quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock valued at $25,000 after buying an additional 463 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Urban Outfitters by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer's stock valued at $29,000 after acquiring an additional 200 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Urban Outfitters by 315.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,482 shares of the apparel retailer's stock worth $82,000 after purchasing an additional 1,125 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Urban Outfitters by 38.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,699 shares of the apparel retailer's stock worth $95,000 after purchasing an additional 470 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Urban Outfitters by 10.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,664 shares of the apparel retailer's stock worth $146,000 after purchasing an additional 250 shares during the period. 77.61% of the stock is owned by institutional investors and hedge funds.

Urban Outfitters Price Performance

URBN stock traded down $0.31 during midday trading on Monday, reaching $69.71. 1,160,666 shares of the stock were exchanged, compared to its average volume of 1,977,062. Urban Outfitters, Inc. has a 52 week low of $33.86 and a 52 week high of $75.80. The company has a fifty day moving average price of $56.92 and a 200 day moving average price of $54.84. The stock has a market capitalization of $6.46 billion, a PE ratio of 19.97, a P/E/G ratio of 1.02 and a beta of 1.45.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.35. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The company had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the previous year, the business posted $0.69 earnings per share. The business's quarterly revenue was up 10.7% compared to the same quarter last year. As a group, analysts anticipate that Urban Outfitters, Inc. will post 3.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Urban Outfitters

In other news, Director Harry S. Cherken, Jr. sold 35,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $74.15, for a total transaction of $2,595,250.00. Following the completion of the transaction, the director now directly owns 480,296 shares in the company, valued at $35,613,948.40. This trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Azeez Hayne sold 11,676 shares of Urban Outfitters stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $54.75, for a total value of $639,261.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 166,332 shares of company stock worth $11,958,079. 31.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on URBN shares. Telsey Advisory Group reiterated a "market perform" rating and set a $72.00 price objective (up from $59.00) on shares of Urban Outfitters in a research note on Thursday, May 22nd. Citigroup cut their price target on shares of Urban Outfitters from $65.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company restated an "equal weight" rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. Robert W. Baird upped their target price on Urban Outfitters from $60.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Finally, Bank of America raised their target price on Urban Outfitters from $70.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Urban Outfitters has an average rating of "Hold" and a consensus price target of $71.55.

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.