Sterling Capital Management LLC Sells 19,369 Shares of Urban Outfitters, Inc. $URBN

Sterling Capital Management LLC trimmed its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 60.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,635 shares of the apparel retailer’s stock after selling 19,369 shares during the quarter. Sterling Capital Management LLC’s holdings in Urban Outfitters were worth $800,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Abrams Bison Investments LLC bought a new stake in Urban Outfitters during the 4th quarter valued at $127,114,000. Capital World Investors bought a new position in shares of Urban Outfitters in the third quarter valued at $60,795,000. Balyasny Asset Management L.P. lifted its stake in shares of Urban Outfitters by 5,360.2% in the third quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock valued at $44,155,000 after buying an additional 606,831 shares in the last quarter. Norges Bank acquired a new position in shares of Urban Outfitters during the fourth quarter valued at about $44,191,000. Finally, UBS Group AG increased its position in shares of Urban Outfitters by 339.3% during the fourth quarter. UBS Group AG now owns 641,454 shares of the apparel retailer’s stock worth $48,276,000 after acquiring an additional 495,441 shares in the last quarter. 77.61% of the stock is currently owned by institutional investors.

Insider Transactions at Urban Outfitters

In related news, CFO Melanie Marein-Efron sold 5,036 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the completion of the transaction, the chief financial officer owned 17,023 shares in the company, valued at approximately $1,249,828.66. This represents a 22.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Azeez Hayne sold 8,733 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $73.18, for a total transaction of $639,080.94. Additional details regarding this sale are available in the official SEC disclosure. 32.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on URBN. Bank of America lifted their price target on Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Jefferies Financial Group restated a “hold” rating and issued a $72.00 target price on shares of Urban Outfitters in a report on Thursday, May 21st. JPMorgan Chase & Co. lifted their target price on Urban Outfitters from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Wall Street Zen downgraded Urban Outfitters from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Barclays lowered their price target on Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, May 22nd. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.18.

Urban Outfitters Stock Down 0.4%

URBN stock opened at $70.57 on Thursday. The firm has a market cap of $6.04 billion, a PE ratio of 13.55, a P/E/G ratio of 1.32 and a beta of 1.22. The business has a 50 day moving average of $72.31 and a 200-day moving average of $70.97. Urban Outfitters, Inc. has a 12-month low of $59.53 and a 12-month high of $84.35.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.18. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the company posted $1.16 earnings per share. Urban Outfitters’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, research analysts expect that Urban Outfitters, Inc. will post 6.08 earnings per share for the current year.

About Urban Outfitters

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.