Lord Abbett & CO. LLC grew its holdings in Urban Outfitters, Inc. (NASDAQ:URBN) by 59.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,829,967 shares of the apparel retailer’s stock after buying an additional 680,511 shares during the quarter. Lord Abbett & CO. LLC owned 1.64% of Urban Outfitters worth $33,928,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. UBS Asset Management Americas Inc. increased its position in shares of Urban Outfitters by 7.2% during the first quarter. UBS Asset Management Americas Inc. now owns 70,628 shares of the apparel retailer’s stock worth $1,678,000 after purchasing an additional 4,725 shares in the last quarter. Arizona State Retirement System increased its position in shares of Urban Outfitters by 68.3% during the first quarter. Arizona State Retirement System now owns 36,700 shares of the apparel retailer’s stock worth $872,000 after purchasing an additional 14,900 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Urban Outfitters by 67.9% during the first quarter. Principal Financial Group Inc. now owns 367,566 shares of the apparel retailer’s stock worth $8,733,000 after purchasing an additional 148,619 shares in the last quarter. FMR LLC increased its position in shares of Urban Outfitters by 7.8% during the first quarter. FMR LLC now owns 5,847,098 shares of the apparel retailer’s stock worth $138,927,000 after purchasing an additional 424,156 shares in the last quarter. Finally, Advantus Capital Management Inc increased its position in shares of Urban Outfitters by 30.1% during the first quarter. Advantus Capital Management Inc now owns 11,310 shares of the apparel retailer’s stock worth $269,000 after purchasing an additional 2,618 shares in the last quarter. Institutional investors and hedge funds own 87.56% of the company’s stock.

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) opened at 24.63 on Friday. Urban Outfitters, Inc. has a one year low of $16.19 and a one year high of $40.80. The stock has a market cap of $2.71 billion, a P/E ratio of 16.49 and a beta of 0.63. The firm’s 50-day moving average price is $23.01 and its 200 day moving average price is $20.63.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Tuesday, August 15th. The apparel retailer reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate 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 return on equity of 13.61% and a net margin of 4.92%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Equities research analysts expect that Urban Outfitters, Inc. will post $1.41 EPS for the current fiscal year.

Urban Outfitters declared that its Board of Directors has approved a share buyback program on Thursday, August 24th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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URBN has been the subject of several research reports. BMO Capital Markets set a $20.00 price target on Urban Outfitters and gave the stock a “hold” rating in a research report on Thursday, July 6th. Royal Bank Of Canada set a $17.00 price target on Urban Outfitters and gave the stock a “hold” rating in a research report on Monday, July 17th. BidaskClub upgraded Urban Outfitters from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Deutsche Bank AG reiterated a “hold” rating and set a $18.00 price target (down from $19.00) on shares of Urban Outfitters in a research report on Friday, August 11th. Finally, FBR & Co dropped their price target on Urban Outfitters from $24.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, August 15th. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $22.39.

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.

Institutional Ownership by Quarter for Urban Outfitters (NASDAQ:URBN)

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