Summit Global Investments Purchases Shares of 4,936 Urban Outfitters, Inc. $URBN

Summit Global Investments acquired a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) in the 2nd quarter, Holdings Channel reports. The fund acquired 4,936 shares of the apparel retailer’s stock, valued at approximately $358,000.

Several other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. lifted its position in Urban Outfitters by 12.4% during the first quarter. Victory Capital Management Inc. now owns 16,258 shares of the apparel retailer’s stock valued at $852,000 after purchasing an additional 1,796 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Urban Outfitters during the 1st quarter valued at $2,979,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Urban Outfitters by 21.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,912 shares of the apparel retailer’s stock worth $939,000 after acquiring an additional 3,191 shares during the last quarter. Picton Mahoney Asset Management grew its position in Urban Outfitters by 22,659.4% in the first quarter. Picton Mahoney Asset Management now owns 7,283 shares of the apparel retailer’s stock worth $382,000 after acquiring an additional 7,251 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Urban Outfitters by 17,175.0% in the first quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer’s stock valued at $36,000 after acquiring an additional 687 shares during the last quarter. 77.61% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Tricia D. Smith sold 3,400 shares of Urban Outfitters stock in a transaction that occurred on Tuesday, October 7th. The stock was 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. The trade was a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Egan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $70.12, for a total value of $70,120.00. Following the transaction, the director directly owned 14,250 shares of the company’s stock, valued at $999,210. This represents a 6.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 44,400 shares of company stock worth $3,118,738 in the last quarter. 31.60% of the stock is owned by company insiders.

Urban Outfitters Trading Up 9.8%

NASDAQ:URBN opened at $68.31 on Wednesday. The company has a 50-day moving average price of $67.23 and a 200-day moving average price of $70.07. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 1.04 and a beta of 1.28. Urban Outfitters, Inc. has a 12 month low of $39.22 and a 12 month high of $80.71.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Tuesday, November 25th. The apparel retailer reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.09. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm earned $1.10 earnings per share. Urban Outfitters’s revenue was up 12.3% on a year-over-year basis. Equities analysts forecast that Urban Outfitters, Inc. will post 3.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company set a $80.00 price objective on Urban Outfitters in a report on Wednesday. Telsey Advisory Group restated a “market perform” rating and issued a $80.00 price objective on shares of Urban Outfitters in a report on Wednesday, November 19th. Barclays reaffirmed an “overweight” rating and issued a $98.00 price objective on shares of Urban Outfitters in a research note on Wednesday. Bank of America lifted their target price on shares of Urban Outfitters from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, Zacks Research lowered shares of Urban Outfitters from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.27.

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.