Wedge Capital Management L L P NC Sells 52,763 Shares of Urban Outfitters, Inc. $URBN

Wedge Capital Management L L P NC trimmed its position in Urban Outfitters, Inc. (NASDAQ:URBN) by 11.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 427,326 shares of the apparel retailer’s stock after selling 52,763 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Urban Outfitters were worth $32,161,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC bought a new stake in shares of Urban Outfitters in the third quarter valued at about $25,000. Hollencrest Capital Management purchased a new stake in Urban Outfitters in the second quarter worth about $26,000. Global Retirement Partners LLC grew its holdings in Urban Outfitters by 158.4% during the 3rd quarter. Global Retirement Partners LLC now owns 460 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 282 shares in the last quarter. Kilter Group LLC bought a new position in Urban Outfitters during the 2nd quarter worth about $36,000. Finally, EverSource Wealth Advisors LLC increased its position in Urban Outfitters by 125.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer’s stock valued at $36,000 after purchasing an additional 274 shares during the period. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Urban Outfitters Stock Performance

NASDAQ:URBN opened at $61.21 on Friday. The company’s 50-day simple moving average is $67.45 and its 200-day simple moving average is $70.16. Urban Outfitters, Inc. has a fifty-two week low of $41.89 and a fifty-two week high of $84.35. The stock has a market capitalization of $5.49 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.20 and a beta of 1.22.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings data on Wednesday, February 25th. The apparel retailer reported $1.43 EPS for the quarter, topping the consensus estimate of $1.24 by $0.19. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.79 billion. Urban Outfitters had a net margin of 7.54% and a return on equity of 18.96%. Urban Outfitters’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.04 EPS. On average, research analysts forecast that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

Insider Activity

In related news, CEO Richard A. Hayne sold 10,667 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $74.94, for a total value of $799,384.98. Following the completion of the transaction, the chief executive officer directly owned 17,750,597 shares of the company’s stock, valued at $1,330,229,739.18. This trade represents a 0.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 353,517 shares of company stock worth $25,933,130 in the last 90 days. Corporate insiders own 31.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Robert W. Baird set a $93.00 price target on shares of Urban Outfitters in a research report on Wednesday, December 17th. The Goldman Sachs Group initiated coverage on shares of Urban Outfitters in a report on Tuesday, December 9th. They set a “neutral” rating and a $83.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Urban Outfitters in a report on Monday, December 29th. JPMorgan Chase & Co. dropped their target price on Urban Outfitters from $96.00 to $94.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company cut their price target on Urban Outfitters from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $86.25.

Urban Outfitters Profile

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.