Maryland State Retirement & Pension System Sells 8,879 Shares of Urban Outfitters, Inc. $URBN

Maryland State Retirement & Pension System decreased its holdings in Urban Outfitters, Inc. (NASDAQ:URBN) by 53.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,732 shares of the apparel retailer’s stock after selling 8,879 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Urban Outfitters were worth $552,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in URBN. Broad Peak Investment Advisers Pte Ltd acquired a new stake in Urban Outfitters during the third quarter worth approximately $5,917,000. Oak Harvest Investment Services lifted its position in shares of Urban Outfitters by 203.1% during the 3rd quarter. Oak Harvest Investment Services now owns 30,313 shares of the apparel retailer’s stock valued at $2,165,000 after acquiring an additional 20,313 shares during the period. Bank of Montreal Can grew its holdings in shares of Urban Outfitters by 134.9% during the 2nd quarter. Bank of Montreal Can now owns 20,709 shares of the apparel retailer’s stock worth $1,502,000 after purchasing an additional 11,894 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Urban Outfitters in the second quarter worth $7,036,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Urban Outfitters by 137.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 221,655 shares of the apparel retailer’s stock worth $16,312,000 after purchasing an additional 128,249 shares during the period. Institutional investors and hedge funds own 77.61% of the company’s stock.

Insider Buying and Selling

In other news, CEO Richard A. Hayne sold 10,667 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $74.94, for a total transaction of $799,384.98. Following the sale, the chief executive officer directly owned 17,995,938 shares in the company, valued at approximately $1,348,615,593.72. The trade was a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 469,333 shares of company stock valued at $36,157,534 in the last ninety days. 31.60% of the stock is currently owned by company insiders.

Urban Outfitters Price Performance

Shares of Urban Outfitters stock opened at $69.55 on Friday. Urban Outfitters, Inc. has a fifty-two week low of $41.89 and a fifty-two week high of $84.35. The firm has a market capitalization of $6.24 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.09 and a beta of 1.23. The company’s 50 day moving average price is $74.49 and its two-hundred day moving average price is $72.39.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Wednesday, December 10th. The apparel retailer reported $1.28 earnings per share (EPS) for the quarter. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.33%. The company had revenue of $1.53 billion during the quarter. On average, analysts expect that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Robert W. Baird set a $93.00 price objective on shares of Urban Outfitters in a research note on Wednesday, December 17th. UBS Group reaffirmed a “neutral” rating on shares of Urban Outfitters in a report on Tuesday, January 13th. JPMorgan Chase & Co. decreased their price objective on shares of Urban Outfitters from $96.00 to $94.00 and set an “overweight” rating on the stock in a research note on Tuesday. Barclays boosted their price objective on shares of Urban Outfitters from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Finally, Wells Fargo & Company raised their target price on Urban Outfitters from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, November 26th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $86.67.

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.