PDT Partners LLC Buys New Stake in Urban Outfitters, Inc. $URBN

PDT Partners LLC purchased a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 63,800 shares of the apparel retailer’s stock, valued at approximately $4,521,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of URBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Urban Outfitters by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,728 shares of the apparel retailer’s stock valued at $1,977,000 after acquiring an additional 1,653 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Urban Outfitters by 10.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,668 shares of the apparel retailer’s stock worth $7,476,000 after purchasing an additional 13,554 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Urban Outfitters by 343.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,435 shares of the apparel retailer’s stock worth $177,000 after purchasing an additional 1,886 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Urban Outfitters by 125.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer’s stock valued at $36,000 after purchasing an additional 274 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Urban Outfitters by 14.0% in the 2nd quarter. First Trust Advisors LP now owns 182,547 shares of the apparel retailer’s stock valued at $13,242,000 after purchasing an additional 22,393 shares during the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on URBN. Wall Street Zen upgraded Urban Outfitters from a “hold” rating to a “buy” rating in a research note on Sunday. Jefferies Financial Group lifted their price target on Urban Outfitters from $72.00 to $79.00 and gave the stock a “hold” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. boosted their price objective on Urban Outfitters from $97.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, August 18th. Bank of America increased their price objective on Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Finally, The Goldman Sachs Group raised shares of Urban Outfitters from a “neutral” rating to a “buy” rating and lifted their target price for the company from $76.00 to $93.00 in a report on Monday, July 20th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.73.

Urban Outfitters Stock Performance

Shares of URBN opened at $75.78 on Wednesday. Urban Outfitters, Inc. has a fifty-two week low of $59.53 and a fifty-two week high of $84.35. The firm has a 50-day simple moving average of $73.69 and a 200-day simple moving average of $70.64. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23.

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.