Y Intercept Hong Kong Ltd Invests $2.24 Million in Urban Outfitters, Inc. $URBN

Y Intercept Hong Kong Ltd acquired a new stake in Urban Outfitters, Inc. (NASDAQ:URBN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 31,297 shares of the apparel retailer’s stock, valued at approximately $2,236,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Covestor Ltd increased its stake in Urban Outfitters by 49.3% in the third quarter. Covestor Ltd now owns 1,992 shares of the apparel retailer’s stock valued at $142,000 after purchasing an additional 658 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of Urban Outfitters in the 3rd quarter valued at $25,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Urban Outfitters by 3.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,208 shares of the apparel retailer’s stock valued at $575,000 after buying an additional 240 shares during the last quarter. Evergreen Capital Management LLC raised its stake in Urban Outfitters by 9.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 10,711 shares of the apparel retailer’s stock worth $765,000 after acquiring an additional 969 shares in the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new stake in Urban Outfitters during the 3rd quarter worth $334,000. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on URBN. Barclays raised their price objective on Urban Outfitters from $98.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Zacks Research cut Urban Outfitters from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Urban Outfitters in a report on Monday, December 29th. Morgan Stanley lifted their target price on shares of Urban Outfitters from $85.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $98.00 price target on shares of Urban Outfitters in a research report on Tuesday, January 13th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $86.67.

Urban Outfitters Price Performance

NASDAQ:URBN opened at $69.61 on Thursday. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.23. The firm’s fifty day moving average price is $75.14 and its 200 day moving average price is $72.32. Urban Outfitters, Inc. has a 1-year low of $41.89 and a 1-year high of $84.35.

Urban Outfitters (NASDAQ:URBN) last issued 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 net margin of 8.15% and a return on equity of 18.33%. As a group, analysts expect that Urban Outfitters, Inc. will post 3.91 earnings per share for the current fiscal year.

Insider Transactions at Urban Outfitters

In other news, CEO Richard A. Hayne sold 10,667 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $74.94, for a total transaction of $799,384.98. Following the completion of the transaction, the chief executive officer directly owned 17,995,938 shares of the company’s stock, valued at approximately $1,348,615,593.72. This represents a 0.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 489,333 shares of company stock worth $37,580,934. Insiders own 31.80% of the company’s stock.

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.