Hennessy Advisors Inc. Has $10.59 Million Holdings in Urban Outfitters, Inc. (NASDAQ:URBN)

Hennessy Advisors Inc. lessened its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 10.3% during the first quarter, HoldingsChannel.com reports. The firm owned 202,100 shares of the apparel retailer’s stock after selling 23,100 shares during the quarter. Hennessy Advisors Inc.’s holdings in Urban Outfitters were worth $10,590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its position in shares of Urban Outfitters by 79.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 183,522 shares of the apparel retailer’s stock worth $9,617,000 after purchasing an additional 81,491 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Urban Outfitters by 313.4% during the 1st quarter. SG Americas Securities LLC now owns 23,342 shares of the apparel retailer’s stock worth $1,223,000 after purchasing an additional 17,696 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Urban Outfitters by 34.7% during the 1st quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer’s stock worth $54,000 after acquiring an additional 263 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Urban Outfitters during the 1st quarter worth approximately $40,544,000. Finally, Whipplewood Advisors LLC boosted its position in shares of Urban Outfitters by 2,893.8% during the 1st quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 463 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays increased their price target on shares of Urban Outfitters from $59.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. BMO Capital Markets set a $76.00 price target on shares of Urban Outfitters and gave the stock a “market perform” rating in a research report on Thursday, May 22nd. Bank of America increased their price target on shares of Urban Outfitters from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $72.00 price target on shares of Urban Outfitters in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.09.

Urban Outfitters Price Performance

Shares of Urban Outfitters stock opened at $68.01 on Friday. Urban Outfitters, Inc. has a fifty-two week low of $33.86 and a fifty-two week high of $75.80. The firm has a market capitalization of $6.30 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.02 and a beta of 1.45. The company’s 50 day moving average price is $59.09 and its two-hundred day moving average price is $55.64.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.35. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.29 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. Urban Outfitters’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share. On average, analysts expect that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Insider Transactions at Urban Outfitters

In other news, Director Harry S. Cherken, Jr. sold 35,000 shares of Urban Outfitters stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $74.15, for a total transaction of $2,595,250.00. Following the transaction, the director now owns 480,296 shares in the company, valued at approximately $35,613,948.40. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tricia D. Smith sold 4,500 shares of Urban Outfitters stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $70.52, for a total transaction of $317,340.00. Following the transaction, the chief executive officer now owns 13,477 shares in the company, valued at approximately $950,398.04. This trade represents a 25.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,156 shares of company stock worth $11,636,158. Company insiders own 31.60% of the company’s stock.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.