Voya Investment Management LLC Cuts Position in Urban Outfitters, Inc. $URBN

Voya Investment Management LLC trimmed its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 20.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,982 shares of the apparel retailer’s stock after selling 10,526 shares during the period. Voya Investment Management LLC’s holdings in Urban Outfitters were worth $2,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Urban Outfitters in the second quarter worth $55,429,000. Qube Research & Technologies Ltd grew its stake in shares of Urban Outfitters by 59.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,287,096 shares of the apparel retailer’s stock worth $93,366,000 after buying an additional 477,909 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Urban Outfitters by 150.5% in the 2nd quarter. Marshall Wace LLP now owns 617,527 shares of the apparel retailer’s stock worth $44,795,000 after buying an additional 371,058 shares in the last quarter. Junto Capital Management LP increased its holdings in shares of Urban Outfitters by 16.5% in the 1st quarter. Junto Capital Management LP now owns 1,728,447 shares of the apparel retailer’s stock worth $90,571,000 after buying an additional 244,801 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Urban Outfitters during the 2nd quarter valued at about $17,279,000. 77.61% of the stock is currently owned by institutional investors.

Urban Outfitters Stock Down 1.5%

URBN opened at $77.05 on Friday. The business has a fifty day moving average of $70.92 and a 200 day moving average of $71.85. The stock has a market cap of $6.91 billion, a P/E ratio of 14.54, a PEG ratio of 1.16 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.

Urban Outfitters (NASDAQ:URBN) last released its earnings results on Wednesday, December 10th. The apparel retailer reported $1.28 earnings per share for the quarter. The business had revenue of $1.53 billion for the quarter. Urban Outfitters had a return on equity of 18.33% and a net margin of 8.15%. Equities analysts anticipate that Urban Outfitters, Inc. will post 3.91 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Richard A. Hayne sold 10,667 shares of Urban Outfitters stock in a transaction dated 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 sale, the chief executive officer owned 18,027,939 shares in the company, valued at $1,270,248,581.94. This trade represents a 0.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 272,733 shares of company stock valued at $21,094,152. Company insiders own 31.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on URBN shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Urban Outfitters in a research report on Monday, December 22nd. Morgan Stanley boosted their target price on Urban Outfitters from $85.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. Telsey Advisory Group upgraded Urban Outfitters from a “market perform” rating to an “outperform” rating and increased their price target for the company from $85.00 to $98.00 in a report on Wednesday, December 17th. Wall Street Zen raised shares of Urban Outfitters from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Finally, The Goldman Sachs Group started coverage on shares of Urban Outfitters in a research report on Tuesday, December 9th. They set a “neutral” rating and a $83.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Urban Outfitters currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.50.

About Urban Outfitters

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.