Urban Outfitters Inc. (URBN) Short Interest Up 11.7% in October
Urban Outfitters Inc. (NASDAQ:URBN) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 13,239,642 shares, an increase of 11.7% from the October 14th total of 11,856,326 shares. Based on an average daily trading volume, of 1,802,446 shares, the short-interest ratio is currently 7.3 days. Currently, 16.0% of the company’s stock are short sold.
A number of brokerages have recently issued reports on URBN. Vetr raised shares of Urban Outfitters from a “strong sell” rating to a “sell” rating and set a $35.51 target price on the stock in a report on Thursday. Morgan Stanley cut shares of Urban Outfitters from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $36.00 to $39.00 in a report on Thursday. Citigroup Inc. raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating in a report on Tuesday. Wunderlich raised shares of Urban Outfitters from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday, November 10th. Finally, Jefferies Group set a $45.00 target price on shares of Urban Outfitters and gave the company a “buy” rating in a report on Monday, October 24th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $36.18.
In other news, General Counsel Azeez Hayne sold 6,260 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $39.95, for a total transaction of $250,087.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 24.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in URBN. Tower Research Capital LLC TRC increased its stake in shares of Urban Outfitters by 70.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,758 shares of the apparel retailer’s stock valued at $104,000 after buying an additional 1,550 shares during the period. Robecosam AG purchased a new stake in shares of Urban Outfitters during the second quarter valued at approximately $108,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Urban Outfitters by 11.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,150 shares of the apparel retailer’s stock valued at $109,000 after buying an additional 327 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Urban Outfitters during the second quarter valued at approximately $121,000. Finally, LS Investment Advisors LLC increased its stake in shares of Urban Outfitters by 16.0% in the second quarter. LS Investment Advisors LLC now owns 4,708 shares of the apparel retailer’s stock valued at $129,000 after buying an additional 651 shares during the period. 73.56% of the stock is currently owned by institutional investors.
Urban Outfitters (NASDAQ:URBN) opened at 38.83 on Friday. The stock has a market capitalization of $4.55 billion, a PE ratio of 19.99 and a beta of 0.69. Urban Outfitters has a 12-month low of $20.06 and a 12-month high of $40.80. The company’s 50-day moving average is $34.99 and its 200 day moving average is $31.70.
Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Tuesday, August 16th. The apparel retailer reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.10. Urban Outfitters had a net margin of 6.63% and a return on equity of 19.57%. The company had revenue of $890.57 million for the quarter, compared to the consensus estimate of $886.39 million. During the same period in the prior year, the firm posted $0.52 EPS. Urban Outfitters’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts expect that Urban Outfitters will post $2.06 earnings per share for the current fiscal year.
About Urban Outfitters
Urban Outfitters, Inc (Urban Outfitters) is a lifestyle retail company. The Company operates through two business segments: Retail and Wholesale. The Retail segment consists of the Company’s Urban Outfitters, Anthropologie Group, Free People and Terrain brands, whose merchandise is sold directly to the Company’s customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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