Russell Investments Group Ltd. Acquires 13,795 Shares of Urban Outfitters, Inc. (URBN)
Russell Investments Group Ltd. raised its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 11.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,911 shares of the apparel retailer’s stock after buying an additional 13,795 shares during the period. Russell Investments Group Ltd. owned about 0.12% of Urban Outfitters worth $2,577,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Urban Outfitters by 9,872.9% in the first quarter. BlackRock Inc. now owns 13,405,864 shares of the apparel retailer’s stock valued at $318,523,000 after buying an additional 13,271,441 shares in the last quarter. FMR LLC increased its position in shares of Urban Outfitters by 7.8% in the first quarter. FMR LLC now owns 5,847,098 shares of the apparel retailer’s stock valued at $138,927,000 after buying an additional 424,156 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Urban Outfitters by 45.2% in the first quarter. Bank of New York Mellon Corp now owns 3,916,563 shares of the apparel retailer’s stock valued at $93,056,000 after buying an additional 1,218,502 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Urban Outfitters by 17.6% in the first quarter. TIAA CREF Investment Management LLC now owns 2,084,087 shares of the apparel retailer’s stock valued at $49,518,000 after buying an additional 311,891 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Urban Outfitters during the first quarter valued at about $48,801,000. Institutional investors and hedge funds own 87.67% of the company’s stock.
Urban Outfitters, Inc. (URBN) traded up 2.520% on Friday, hitting $20.955. 1,202,231 shares of the stock traded hands. Urban Outfitters, Inc. has a 1-year low of $16.19 and a 1-year high of $40.80. The stock has a 50-day moving average price of $18.96 and a 200 day moving average price of $21.15. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 14.026 and a beta of 0.66.
Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Tuesday, August 15th. The apparel retailer reported $0.44 EPS for the quarter, topping the consensus estimate of $0.37 by $0.07. The company had revenue of $873 million during the quarter, compared to the consensus estimate of $860.80 million. Urban Outfitters had a net margin of 4.92% and a return on equity of 13.61%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. On average, analysts anticipate that Urban Outfitters, Inc. will post $1.41 EPS for the current fiscal year.
Urban Outfitters announced that its board has initiated a stock repurchase plan on Thursday, August 24th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the apparel retailer to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
URBN has been the subject of several analyst reports. Wolfe Research downgraded shares of Urban Outfitters from an “outperform” rating to a “peer perform” rating in a report on Tuesday, May 9th. Zacks Investment Research raised shares of Urban Outfitters from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Deutsche Bank AG reissued a “hold” rating and set a $25.00 price target (up from $24.00) on shares of Urban Outfitters in a report on Monday, May 15th. Royal Bank Of Canada set a $22.00 price target on shares of Urban Outfitters and gave the company a “hold” rating in a report on Monday, May 15th. Finally, FBR & Co reissued a “hold” rating and set a $24.00 price target (down from $28.00) on shares of Urban Outfitters in a report on Wednesday, May 17th. Three analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $23.03.
About Urban Outfitters
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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