Alliancebernstein L.P. decreased its stake in Urban Outfitters, Inc. (NASDAQ:URBN) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 104,738 shares of the apparel retailer’s stock after selling 5,637 shares during the period. Alliancebernstein L.P. owned 0.09% of Urban Outfitters worth $1,942,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in URBN. LS Investment Advisors LLC increased its stake in shares of Urban Outfitters by 12.5% in the second quarter. LS Investment Advisors LLC now owns 9,488 shares of the apparel retailer’s stock worth $176,000 after purchasing an additional 1,052 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of Urban Outfitters in the second quarter worth about $191,000. Oppenheimer Asset Management Inc. increased its stake in shares of Urban Outfitters by 0.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,691 shares of the apparel retailer’s stock worth $198,000 after purchasing an additional 43 shares in the last quarter. ING Groep NV purchased a new position in shares of Urban Outfitters in the second quarter worth about $206,000. Finally, Pacer Advisors Inc. increased its stake in shares of Urban Outfitters by 6.4% in the second quarter. Pacer Advisors Inc. now owns 13,090 shares of the apparel retailer’s stock worth $243,000 after purchasing an additional 789 shares in the last quarter. 87.56% of the stock is currently owned by institutional investors and hedge funds.
Shares of Urban Outfitters, Inc. (NASDAQ:URBN) opened at 23.77 on Thursday. Urban Outfitters, Inc. has a one year low of $16.19 and a one year high of $40.80. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 15.91 and a beta of 0.63. The stock has a 50 day moving average of $22.79 and a 200-day moving average of $20.60.
Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Tuesday, August 15th. The apparel retailer reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. Urban Outfitters had a net margin of 4.92% and a return on equity of 13.61%. The firm had revenue of $873.00 million during the quarter, compared to analyst estimates of $860.80 million. During the same period last year, the firm posted $0.66 earnings per share. Urban Outfitters’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts expect that Urban Outfitters, Inc. will post $1.41 earnings per share for the current year.
Urban Outfitters announced that its Board of Directors has initiated a share repurchase program on Thursday, August 24th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
Several research firms have recently weighed in on URBN. Deutsche Bank AG downgraded shares of Urban Outfitters from a “hold” rating to a “sell” rating and reduced their target price for the stock from $23.00 to $19.00 in a research note on Tuesday, October 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $25.00 target price on shares of Urban Outfitters in a research note on Thursday, September 28th. Zacks Investment Research upgraded shares of Urban Outfitters from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Tuesday. Royal Bank Of Canada reiterated a “hold” rating and issued a $21.00 target price on shares of Urban Outfitters in a research note on Monday, September 18th. Finally, BidaskClub upgraded shares of Urban Outfitters from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $22.39.
Urban Outfitters Company Profile
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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