HBK Sorce Advisory LLC Purchases Shares of 2,820 Urban Outfitters, Inc. $URBN

HBK Sorce Advisory LLC bought a new stake in Urban Outfitters, Inc. (NASDAQ:URBN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,820 shares of the apparel retailer’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. increased its position in shares of Urban Outfitters by 180.2% in the second quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer’s stock valued at $34,000 after acquiring an additional 301 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Urban Outfitters by 17,175.0% during the 1st quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 687 shares during the last quarter. Virtus Advisers LLC acquired a new position in shares of Urban Outfitters during the 1st quarter worth approximately $46,000. GAMMA Investing LLC increased its position in shares of Urban Outfitters by 34.7% during the 1st quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer’s stock worth $54,000 after purchasing an additional 263 shares during the last quarter. Finally, Quarry LP increased its position in shares of Urban Outfitters by 146.2% during the 1st quarter. Quarry LP now owns 1,418 shares of the apparel retailer’s stock worth $74,000 after purchasing an additional 842 shares during the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

Urban Outfitters Stock Down 1.9%

Shares of NASDAQ:URBN opened at $64.61 on Friday. The company’s 50 day moving average price is $70.11 and its two-hundred day moving average price is $68.60. Urban Outfitters, Inc. has a 12-month low of $35.66 and a 12-month high of $80.71. The firm has a market cap of $5.80 billion, a PE ratio of 12.62, a PEG ratio of 1.04 and a beta of 1.26.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.14. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. Urban Outfitters had a return on equity of 18.43% and a net margin of 8.15%.The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 earnings per share. On average, research analysts expect that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on URBN shares. Morgan Stanley boosted their target price on shares of Urban Outfitters from $82.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Barclays restated an “overweight” rating and set a $89.00 price objective on shares of Urban Outfitters in a research note on Friday, August 29th. Wells Fargo & Company boosted 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. JPMorgan Chase & Co. boosted their target price on Urban Outfitters from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Finally, Telsey Advisory Group upped their price objective on shares of Urban Outfitters from $72.00 to $80.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Urban Outfitters currently has an average rating of “Moderate Buy” and an average price target of $81.91.

Insider Transactions at Urban Outfitters

In other Urban Outfitters news, CEO Tricia D. Smith sold 3,400 shares of the stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $69.77, for a total transaction of $237,218.00. Following the sale, the chief executive officer directly owned 10,077 shares in the company, valued at $703,072.29. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard A. Hayne sold 9,333 shares of the stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $70.11, for a total transaction of $654,336.63. Following the sale, the chief executive officer owned 2,430,722 shares in the company, valued at $170,417,919.42. The trade was a 0.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 44,400 shares of company stock valued at $3,118,738. 31.60% of the stock is owned by corporate insiders.

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.