Wedge Capital Management L L P NC Reduces Holdings in Urban Outfitters, Inc. $URBN

Wedge Capital Management L L P NC reduced its stake in Urban Outfitters, Inc. (NASDAQ:URBN) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 480,089 shares of the apparel retailer’s stock after selling 46,622 shares during the quarter. Wedge Capital Management L L P NC owned 0.54% of Urban Outfitters worth $34,293,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fairvoy Private Wealth LLC raised its holdings in Urban Outfitters by 2.0% during the third quarter. Fairvoy Private Wealth LLC now owns 14,174 shares of the apparel retailer’s stock worth $1,012,000 after purchasing an additional 275 shares during the last quarter. Corient Private Wealth LLC purchased a new position in shares of Urban Outfitters during the 2nd quarter worth $214,000. Osaic Holdings Inc. grew its holdings in Urban Outfitters by 277.2% in the 2nd quarter. Osaic Holdings Inc. now owns 6,741 shares of the apparel retailer’s stock valued at $489,000 after buying an additional 4,954 shares during the period. Orion Porfolio Solutions LLC increased its position in Urban Outfitters by 27.5% during the second quarter. Orion Porfolio Solutions LLC now owns 22,953 shares of the apparel retailer’s stock worth $1,665,000 after purchasing an additional 4,956 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Urban Outfitters by 7.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 44,581 shares of the apparel retailer’s stock worth $3,234,000 after buying an additional 3,236 shares during the period. 77.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of Urban Outfitters from $85.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. Wall Street Zen raised Urban Outfitters from a “hold” rating to a “buy” rating in a report on Sunday. Citigroup increased their price objective on shares of Urban Outfitters from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Urban Outfitters in a research report on Monday, December 8th. Finally, Barclays raised their target price on Urban Outfitters from $89.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.50.

Insider Buying and Selling at Urban Outfitters

In related news, CEO Richard A. Hayne sold 10,667 shares of the stock in a transaction on Friday, October 10th. The shares were sold at an average price of $70.46, for a total transaction of $751,596.82. Following the completion of the transaction, the chief executive officer owned 18,027,939 shares in the company, valued at approximately $1,270,248,581.94. This represents a 0.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 232,733 shares of company stock worth $17,863,752 over the last ninety days. 31.60% of the stock is owned by corporate insiders.

Urban Outfitters Stock Performance

Shares of NASDAQ:URBN opened at $81.33 on Friday. The company has a market capitalization of $7.29 billion, a PE ratio of 15.35, a P/E/G ratio of 1.22 and a beta of 1.20. Urban Outfitters, Inc. has a 52 week low of $41.89 and a 52 week high of $83.94. The company’s fifty day moving average is $69.87 and its 200-day moving average is $71.55.

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

Urban Outfitters Profile

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.