17,952 Shares in Urban Outfitters, Inc. (NASDAQ:URBN) Acquired by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd has acquired a new stake in Urban Outfitters, buying 17,952 shares valued at approximately $941,000.
• Urban Outfitters reported a quarterly earnings per share of $1.16, significantly exceeding analysts' expectations of $0.81, with revenues hitting $1.33 billion.
• Despite positive earnings, insider activity has seen significant share sales, with CFO Melanie Marein-Efron selling 20,000 shares valued at over $1.46 million.

Y Intercept Hong Kong Ltd bought a new stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,952 shares of the apparel retailer's stock, valued at approximately $941,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC acquired a new position in Urban Outfitters during the 1st quarter valued at about $548,000. Victory Capital Management Inc. raised its stake in shares of Urban Outfitters by 12.4% in the first quarter. Victory Capital Management Inc. now owns 16,258 shares of the apparel retailer's stock worth $852,000 after purchasing an additional 1,796 shares during the last quarter. CWM LLC raised its stake in shares of Urban Outfitters by 19.6% in the first quarter. CWM LLC now owns 4,646 shares of the apparel retailer's stock worth $243,000 after purchasing an additional 760 shares during the last quarter. Xponance Inc. raised its stake in shares of Urban Outfitters by 4.9% in the first quarter. Xponance Inc. now owns 4,782 shares of the apparel retailer's stock worth $251,000 after purchasing an additional 222 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Urban Outfitters by 3.0% in the first quarter. Principal Financial Group Inc. now owns 353,495 shares of the apparel retailer's stock worth $18,523,000 after purchasing an additional 10,236 shares during the last quarter. 77.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Azeez Hayne sold 12,856 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $73.00, for a total value of $938,488.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kotzman Kelly Campbell sold 6,800 shares of Urban Outfitters stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $75.10, for a total value of $510,680.00. Following the transaction, the director owned 4,750 shares in the company, valued at approximately $356,725. The trade was a 58.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,156 shares of company stock valued at $11,636,158. 31.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

URBN has been the subject of several research analyst reports. Jefferies Financial Group upgraded Urban Outfitters from an "underperform" rating to a "hold" rating and raised their price objective for the stock from $50.00 to $70.00 in a research note on Friday, June 6th. JPMorgan Chase & Co. raised their target price on Urban Outfitters from $78.00 to $88.00 and gave the stock an "overweight" rating in a report on Monday. Bank of America raised their target price on Urban Outfitters from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Robert W. Baird raised Urban Outfitters from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $75.00 to $90.00 in a report on Wednesday, June 11th. Finally, Barclays raised their target price on Urban Outfitters from $59.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.00.

Urban Outfitters Stock Down 0.5%

Shares of NASDAQ URBN traded down $0.39 during midday trading on Tuesday, hitting $77.33. The stock had a trading volume of 357,486 shares, compared to its average volume of 2,162,003. The company has a market capitalization of $6.93 billion, a PE ratio of 16.17, a P/E/G ratio of 1.27 and a beta of 1.44. The stock has a 50 day simple moving average of $71.11 and a 200-day simple moving average of $59.61. Urban Outfitters, Inc. has a 1 year low of $33.86 and a 1 year high of $78.22.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.35. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.29 billion. Urban Outfitters had a return on equity of 17.98% and a net margin of 7.91%. The business's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. As a group, analysts expect that Urban Outfitters, Inc. will post 3.91 earnings per share for the current fiscal year.

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.