Nationwide Fund Advisors Boosts Position in Urban Outfitters Inc. (URBN)
Nationwide Fund Advisors boosted its position in shares of Urban Outfitters Inc. (NASDAQ:URBN) by 129.8% during the second quarter, Holdings Channel reports. The firm owned 321,099 shares of the apparel retailer’s stock after buying an additional 181,369 shares during the period. Nationwide Fund Advisors owned 0.27% of Urban Outfitters worth $8,830,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp purchased a new stake in Urban Outfitters during the first quarter worth approximately $950,000. Credit Agricole S A boosted its stake in Urban Outfitters by 44.4% in the first quarter. Credit Agricole S A now owns 16,264 shares of the apparel retailer’s stock worth $538,000 after buying an additional 5,000 shares during the period. BlackRock Japan Co. Ltd boosted its stake in Urban Outfitters by 0.7% in the first quarter. BlackRock Japan Co. Ltd now owns 41,319 shares of the apparel retailer’s stock worth $1,367,000 after buying an additional 306 shares during the period. Prudential Financial Inc. boosted its stake in Urban Outfitters by 0.6% in the first quarter. Prudential Financial Inc. now owns 119,304 shares of the apparel retailer’s stock worth $3,948,000 after buying an additional 750 shares during the period. Finally, Teachers Advisors Inc. boosted its stake in Urban Outfitters by 1.1% in the first quarter. Teachers Advisors Inc. now owns 144,214 shares of the apparel retailer’s stock worth $4,772,000 after buying an additional 1,560 shares during the period. Institutional investors own 72.56% of the company’s stock.
Shares of Urban Outfitters Inc. (NASDAQ:URBN) traded down 0.711% during mid-day trading on Tuesday, reaching $35.625. The company’s stock had a trading volume of 559,262 shares. The stock has a market cap of $4.18 billion, a P/E ratio of 18.344 and a beta of 1.00. Urban Outfitters Inc. has a one year low of $19.26 and a one year high of $37.82. The stock has a 50 day moving average of $34.17 and a 200-day moving average of $30.66.
Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Tuesday, August 16th. The apparel retailer reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.10. The business had revenue of $890.57 million for the quarter, compared to analysts’ expectations of $886.39 million. Urban Outfitters had a return on equity of 19.57% and a net margin of 6.63%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. On average, equities research analysts expect that Urban Outfitters Inc. will post $2.06 EPS for the current fiscal year.
A number of research firms recently commented on URBN. Goldman Sachs Group Inc. cut Urban Outfitters from a “buy” rating to a “neutral” rating and upped their price objective for the company from $33.00 to $35.00 in a research report on Monday, August 22nd. Zacks Investment Research upgraded Urban Outfitters from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, August 23rd. Vetr cut Urban Outfitters from a “buy” rating to a “hold” rating and set a $37.50 price objective for the company. in a research report on Tuesday, September 6th. Robert W. Baird reiterated an “outperform” rating and set a $38.00 price objective on shares of Urban Outfitters in a research report on Saturday, September 10th. Finally, Cowen and Company reiterated a “market perform” rating and set a $37.00 price objective (up previously from $28.00) on shares of Urban Outfitters in a research report on Wednesday, August 17th. Twenty-two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $35.40.
In other news, CFO Frank Conforti sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $37.42, for a total transaction of $149,680.00. Following the transaction, the chief financial officer now directly owns 4,000 shares in the company, valued at approximately $149,680. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 24.30% of the company’s stock.
About Urban Outfitters
Urban Outfitters, Inc (Urban Outfitters) is a lifestyle retail company. The Company operates through two business segments: Retail and Wholesale. The Retail segment consists of the Company’s Urban Outfitters, Anthropologie Group, Free People and Terrain brands, whose merchandise is sold directly to the Company’s customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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