Amalgamated Bank raised its position in Urban Outfitters, Inc. (NASDAQ:URBN) by 18.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,892 shares of the apparel retailer’s stock after purchasing an additional 2,584 shares during the period. Amalgamated Bank’s holdings in Urban Outfitters were worth $313,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of Urban Outfitters by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 3,926,812 shares of the apparel retailer’s stock valued at $72,803,000 after buying an additional 10,249 shares during the period. Bank of Nova Scotia acquired a new position in shares of Urban Outfitters in the first quarter valued at approximately $251,000. First Trust Advisors LP boosted its holdings in shares of Urban Outfitters by 2.9% in the second quarter. First Trust Advisors LP now owns 370,822 shares of the apparel retailer’s stock valued at $6,875,000 after buying an additional 10,503 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Urban Outfitters by 11.0% in the second quarter. Russell Investments Group Ltd. now owns 138,911 shares of the apparel retailer’s stock valued at $2,577,000 after buying an additional 13,795 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Urban Outfitters by 31.3% in the second quarter. BNP Paribas Arbitrage SA now owns 81,652 shares of the apparel retailer’s stock valued at $1,514,000 after buying an additional 19,484 shares during the period. 87.58% of the stock is owned by hedge funds and other institutional investors.
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Several research firms have recently weighed in on URBN. Deutsche Bank AG cut shares of Urban Outfitters from a “hold” rating to a “sell” rating and reduced their price target for the company from $23.00 to $19.00 in a report on Tuesday, October 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $25.00 price target on shares of Urban Outfitters in a report on Thursday, September 28th. Royal Bank Of Canada reiterated a “hold” rating and issued a $21.00 price target on shares of Urban Outfitters in a report on Monday, September 18th. BidaskClub upgraded shares of Urban Outfitters from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, BMO Capital Markets set a $20.00 price target on shares of Urban Outfitters and gave the company a “hold” rating in a report on Monday, September 11th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $22.24.
Urban Outfitters, Inc. (NASDAQ URBN) opened at 23.19 on Wednesday. Urban Outfitters, Inc. has a 52-week low of $16.19 and a 52-week high of $40.80. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 15.52 and a beta of 0.63. The company’s 50-day moving average is $22.36 and its 200-day moving average is $20.61.
Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Tuesday, August 15th. The apparel retailer reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.07. The business had revenue of $873.00 million for 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 revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, analysts expect that Urban Outfitters, Inc. will post $1.41 earnings per share for the current fiscal year.
Urban Outfitters announced that its board has approved a stock buyback plan on Thursday, August 24th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the apparel retailer to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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