Urban Outfitters, Inc. (URBN) Short Interest Update
Urban Outfitters, Inc. (NASDAQ:URBN) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 23,193,017 shares, an increase of 20.8% from the August 15th total of 19,205,088 shares. Approximately 31.2% of the company’s shares are short sold. Based on an average trading volume of 7,336,192 shares, the days-to-cover ratio is currently 3.2 days.
A number of hedge funds have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC boosted its stake in Urban Outfitters by 59.2% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,829,967 shares of the apparel retailer’s stock valued at $33,928,000 after purchasing an additional 680,511 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in Urban Outfitters by 0.5% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 930,015 shares of the apparel retailer’s stock valued at $17,242,000 after purchasing an additional 4,965 shares during the last quarter. Dean Capital Management acquired a new position in Urban Outfitters during the 2nd quarter valued at about $2,294,000. The Manufacturers Life Insurance Company boosted its stake in Urban Outfitters by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 134,529 shares of the apparel retailer’s stock valued at $2,494,000 after purchasing an additional 2,514 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Urban Outfitters during the 2nd quarter valued at about $492,000. Institutional investors and hedge funds own 87.58% of the company’s stock.
Urban Outfitters (NASDAQ URBN) opened at 22.68 on Tuesday. The company’s 50-day moving average price is $20.19 and its 200 day moving average price is $20.69. Urban Outfitters has a 12 month low of $16.19 and a 12 month high of $40.80. The firm has a market capitalization of $2.49 billion, a PE ratio of 15.18 and a beta of 0.59.
Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Tuesday, August 15th. The apparel retailer reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. The business had revenue of $873.00 million during the quarter, compared to the consensus estimate of $860.80 million. Urban Outfitters had a return on equity of 13.61% and a net margin of 4.92%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. On average, equities research analysts predict that Urban Outfitters will post $1.41 earnings per share for the current year.
Urban Outfitters declared that its board has initiated a share repurchase plan on Thursday, August 24th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the apparel retailer to buy up to 0.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
A number of research firms recently commented on URBN. Wells Fargo & Company reiterated a “market perform” rating and issued a $16.00 price objective (down previously from $18.00) on shares of Urban Outfitters in a report on Friday, June 9th. Royal Bank Of Canada set a $17.00 price objective on Urban Outfitters and gave the company a “hold” rating in a report on Monday, July 17th. Morgan Stanley reiterated an “equal weight” rating and issued a $17.00 price objective (down previously from $19.00) on shares of Urban Outfitters in a report on Monday, June 12th. BidaskClub upgraded Urban Outfitters from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, ValuEngine downgraded Urban Outfitters from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $22.20.
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About Urban Outfitters
Urban Outfitters, Inc is a lifestyle specialty retail company. The Company operates through two segments: Retail and Wholesale. The Company’s Retail segment consists of its Urban Outfitters, Anthropologie, Free People, Terrain and Bhldn brands, whose merchandise is sold to its customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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