Oliver Luxxe Assets LLC Sells 18,444 Shares of Urban Outfitters, Inc. $URBN

Oliver Luxxe Assets LLC lowered its stake in Urban Outfitters, Inc. (NASDAQ:URBN) by 42.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,354 shares of the apparel retailer’s stock after selling 18,444 shares during the period. Oliver Luxxe Assets LLC’s holdings in Urban Outfitters were worth $1,797,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Urban Outfitters by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,313,938 shares of the apparel retailer’s stock valued at $273,274,000 after purchasing an additional 338,622 shares during the period. Abrams Bison Investments LLC purchased a new position in shares of Urban Outfitters in the 4th quarter worth approximately $127,114,000. Geode Capital Management LLC boosted its holdings in shares of Urban Outfitters by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,507,027 shares of the apparel retailer’s stock worth $113,434,000 after purchasing an additional 35,244 shares during the period. Jupiter Asset Management Ltd. increased its position in shares of Urban Outfitters by 33.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 1,297,452 shares of the apparel retailer’s stock valued at $97,646,000 after purchasing an additional 327,453 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Urban Outfitters by 23.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 981,130 shares of the apparel retailer’s stock valued at $62,155,000 after purchasing an additional 189,454 shares during the last quarter. 77.61% of the stock is owned by institutional investors.

Urban Outfitters Stock Performance

Shares of URBN stock opened at $76.92 on Monday. Urban Outfitters, Inc. has a 52-week low of $59.53 and a 52-week high of $84.35. The firm has a market capitalization of $6.59 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.42 and a beta of 1.23. The stock has a 50 day moving average price of $73.12 and a 200 day moving average price of $70.17.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.18. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.Urban Outfitters’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 EPS. As a group, sell-side analysts forecast that Urban Outfitters, Inc. will post 6.13 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on URBN. Bank of America increased their price target on Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. lifted their price objective on shares of Urban Outfitters from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Weiss Ratings cut shares of Urban Outfitters from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday. Morgan Stanley reissued an “overweight” rating and issued a $89.00 target price on shares of Urban Outfitters in a research note on Monday, July 6th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $72.00 price target on shares of Urban Outfitters in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.91.

Insider Buying and Selling at Urban Outfitters

In related news, insider Azeez Hayne sold 8,733 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.18, for a total value of $639,080.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters 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 sale, the chief financial officer owned 17,023 shares of the company’s stock, valued at $1,249,828.66. The trade was a 22.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 32.10% of the stock is currently owned by company insiders.

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.