Magnetar Financial LLC Purchases New Position in Urban Outfitters, Inc. $URBN

Magnetar Financial LLC acquired a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 30,681 shares of the apparel retailer’s stock, valued at approximately $2,226,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. grew its position in shares of Urban Outfitters by 11.2% during the 1st quarter. American Century Companies Inc. now owns 2,322,526 shares of the apparel retailer’s stock worth $121,700,000 after buying an additional 233,371 shares in the last quarter. Junto Capital Management LP lifted its stake in Urban Outfitters by 16.5% in the first quarter. Junto Capital Management LP now owns 1,728,447 shares of the apparel retailer’s stock worth $90,571,000 after acquiring an additional 244,801 shares during the period. Geode Capital Management LLC grew its holdings in Urban Outfitters by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,525,150 shares of the apparel retailer’s stock worth $110,646,000 after acquiring an additional 12,965 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Urban Outfitters by 27.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,397,175 shares of the apparel retailer’s stock valued at $73,212,000 after purchasing an additional 302,444 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Urban Outfitters in the 1st quarter valued at about $43,769,000. 77.61% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Tricia D. Smith sold 3,400 shares of the company’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $69.77, for a total value of $237,218.00. Following the transaction, the chief executive officer directly owned 10,077 shares of the company’s stock, valued at $703,072.29. This represents a 25.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard A. Hayne sold 9,333 shares of Urban Outfitters stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $70.11, for a total value of $654,336.63. Following the sale, the chief executive officer directly owned 2,430,722 shares of the company’s stock, valued at approximately $170,417,919.42. This represents a 0.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 44,400 shares of company stock valued at $3,118,738 over the last ninety days. 31.60% of the stock is currently owned by insiders.

Urban Outfitters Stock Up 4.8%

URBN opened at $64.11 on Friday. The company has a market cap of $5.75 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.04 and a beta of 1.28. The firm’s 50-day moving average price is $67.47 and its 200-day moving average price is $69.76. Urban Outfitters, Inc. has a 52-week low of $38.01 and a 52-week high of $80.71.

Urban Outfitters (NASDAQ:URBN) last released its earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.14. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business earned $1.24 EPS. Urban Outfitters’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, research analysts anticipate that Urban Outfitters, Inc. will post 3.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on URBN shares. UBS Group dropped their price objective on shares of Urban Outfitters from $79.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, November 17th. Bank of America boosted their target price on shares of Urban Outfitters from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Citigroup reissued a “neutral” rating and set a $76.00 price target (up from $75.00) on shares of Urban Outfitters in a research report on Wednesday, August 20th. Barclays reaffirmed an “overweight” rating and issued a $89.00 price objective on shares of Urban Outfitters in a research report on Friday, August 29th. Finally, Morgan Stanley increased their target price on shares of Urban Outfitters from $82.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $81.09.

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.