Urban Outfitters, Inc. (URBN) Shares Bought by Peregrine Capital Management LLC
Peregrine Capital Management LLC raised its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,643 shares of the apparel retailer’s stock after purchasing an additional 5,871 shares during the period. Peregrine Capital Management LLC owned approximately 0.26% of Urban Outfitters worth $6,922,000 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. Sun Life Financial INC acquired a new position in Urban Outfitters during the second quarter valued at approximately $151,000. LS Investment Advisors LLC raised its position in Urban Outfitters by 12.5% during the second quarter. LS Investment Advisors LLC now owns 9,488 shares of the apparel retailer’s stock valued at $176,000 after purchasing an additional 1,052 shares in the last quarter. Pacad Investment Ltd. acquired a new position in Urban Outfitters during the second quarter valued at approximately $191,000. BT Investment Management Ltd acquired a new position in Urban Outfitters during the second quarter valued at approximately $196,000. Finally, Oppenheimer Asset Management Inc. raised its position in Urban Outfitters by 0.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,691 shares of the apparel retailer’s stock valued at $198,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 87.73% of the company’s stock.
Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Tuesday, August 15th. The apparel retailer reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. The company had revenue of $873.00 million for the quarter, compared to analysts’ expectations of $860.80 million. Urban Outfitters had a net margin of 4.92% and a return on equity of 13.61%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS.
Urban Outfitters declared that its Board of Directors has approved a share repurchase program on Thursday, August 24th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
Several research analysts have commented on the stock. Royal Bank Of Canada boosted their price objective on shares of Urban Outfitters from $17.00 to $21.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 16th. SunTrust Banks, Inc. restated a “buy” rating on shares of Urban Outfitters in a research report on Wednesday, August 16th. KeyCorp set a $26.00 price objective on shares of Urban Outfitters and gave the company a “buy” rating in a research report on Wednesday, August 16th. BMO Capital Markets set a $20.00 target price on shares of Urban Outfitters and gave the stock a “hold” rating in a research note on Thursday, July 6th. Finally, MKM Partners set a $16.00 target price on shares of Urban Outfitters and gave the stock a “sell” rating in a research note on Wednesday, August 16th. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.47.
Urban Outfitters 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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