Urban Outfitters, Inc. (NASDAQ:URBN) Sees Large Growth in Short Interest

Urban Outfitters, Inc. (NASDAQ:URBN) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 8,280,000 shares, a growth of 35.3% from the February 28th total of 6,120,000 shares. Based on an average trading volume of 1,990,000 shares, the short-interest ratio is currently 4.2 days. Currently, 14.3% of the shares of the company are sold short.

Urban Outfitters Stock Up 1.8 %

NASDAQ URBN opened at $52.40 on Tuesday. The company has a 50 day moving average price of $54.53 and a two-hundred day moving average price of $47.85. Urban Outfitters has a 12-month low of $33.86 and a 12-month high of $61.16. The stock has a market capitalization of $4.84 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Wednesday, February 26th. The apparel retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.15. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. As a group, equities analysts anticipate that Urban Outfitters will post 3.91 EPS for the current year.

Wall Street Analyst Weigh In

URBN has been the subject of several research reports. Robert W. Baird raised their price objective on shares of Urban Outfitters from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Telsey Advisory Group lifted their price target on shares of Urban Outfitters from $56.00 to $59.00 and gave the stock a “market perform” rating in a research report on Thursday, February 27th. UBS Group increased their price objective on Urban Outfitters from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Barclays lifted their target price on Urban Outfitters from $63.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Finally, StockNews.com raised Urban Outfitters from a “hold” rating to a “buy” rating in a report on Saturday, March 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Urban Outfitters presently has an average rating of “Hold” and a consensus target price of $56.00.

Insiders Place Their Bets

In other news, Director Harry S. Cherken, Jr. sold 15,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $50.50, for a total transaction of $757,500.00. Following the completion of the transaction, the director now owns 495,296 shares in the company, valued at approximately $25,012,448. This represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Azeez Hayne sold 11,676 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $54.75, for a total transaction of $639,261.00. The disclosure for this sale can be found here. Insiders have sold 99,976 shares of company stock valued at $5,573,263 over the last quarter. Insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Urban Outfitters

A number of large investors have recently added to or reduced their stakes in URBN. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Urban Outfitters during the 3rd quarter worth about $361,000. Martingale Asset Management L P boosted its holdings in Urban Outfitters by 13.0% during the third quarter. Martingale Asset Management L P now owns 34,433 shares of the apparel retailer’s stock valued at $1,319,000 after purchasing an additional 3,952 shares in the last quarter. Centiva Capital LP grew its stake in shares of Urban Outfitters by 100.7% in the 3rd quarter. Centiva Capital LP now owns 28,683 shares of the apparel retailer’s stock valued at $1,099,000 after purchasing an additional 14,393 shares during the period. Polar Asset Management Partners Inc. acquired a new position in shares of Urban Outfitters in the 3rd quarter worth approximately $1,609,000. Finally, Point72 DIFC Ltd bought a new position in shares of Urban Outfitters during the 3rd quarter worth approximately $106,000. Institutional investors own 77.61% of the company’s stock.

About Urban Outfitters

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.