Wesbanco Bank Inc. Sells 13,187 Shares of Urban Outfitters, Inc. $URBN

Key Points

• Wesbanco Bank Inc. reduced its position in Urban Outfitters by 39.7%, now holding 20,000 shares worth approximately $1.45 million.
• Institutional investors own 77.61% of Urban Outfitters stock, with significant increases in holdings reported by firms such as Deutsche Bank, which boosted its stake by 280.6%.
• Urban Outfitters reported $1.58 earnings per share for the last quarter, surpassing estimates, while its stock currently has a consensus rating of "Hold" at an average target price of $81.91.

Wesbanco Bank Inc. cut its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 39.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the apparel retailer's stock after selling 13,187 shares during the period. Wesbanco Bank Inc.'s holdings in Urban Outfitters were worth $1,451,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of URBN. Cetera Investment Advisers increased its position in Urban Outfitters by 15.0% during the 4th quarter. Cetera Investment Advisers now owns 15,435 shares of the apparel retailer's stock worth $847,000 after purchasing an additional 2,009 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Urban Outfitters in the fourth quarter valued at $240,000. Deutsche Bank AG increased its stake in shares of Urban Outfitters by 280.6% in 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. Focus Partners Wealth bought a new position in Urban Outfitters during the fourth quarter worth about $227,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Urban Outfitters by 2.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,075 shares of the apparel retailer's stock valued at $1,980,000 after buying an additional 1,011 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company's stock.

Insiders Place Their Bets

In related 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 owned 14,250 shares of the company's stock, valued at $999,210. This trade represents a 6.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 31.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on URBN. Bank of America increased their target price on Urban Outfitters from $90.00 to $93.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Morgan Stanley increased their price objective on Urban Outfitters from $82.00 to $84.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Wells Fargo & Company lifted their target price on Urban Outfitters from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Thursday, August 28th. Barclays reiterated an "overweight" rating and set a $89.00 target price on shares of Urban Outfitters in a research report on Friday, August 29th. Finally, Jefferies Financial Group upgraded Urban Outfitters from an "underperform" rating to a "hold" rating and upped their price objective for the company from $50.00 to $70.00 in a research report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $81.91.

Urban Outfitters Trading Down 0.9%

Shares of URBN traded down $0.66 during mid-day trading on Friday, reaching $70.92. The company had a trading volume of 368,153 shares, compared to its average volume of 2,132,504. The firm has a fifty day simple moving average of $73.86 and a 200-day simple moving average of $64.30. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 1.11 and a beta of 1.29. Urban Outfitters, Inc. has a fifty-two week low of $34.76 and a fifty-two week high of $80.71.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business posted $1.24 EPS. Urban Outfitters's quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities analysts predict that Urban Outfitters, Inc. will post 3.91 EPS for the current fiscal year.

About Urban Outfitters

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.