Engineers Gate Manager LP Increases Stock Holdings in Urban Outfitters, Inc. $URBN

Engineers Gate Manager LP increased its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 211.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 428,227 shares of the apparel retailer’s stock after purchasing an additional 290,698 shares during the quarter. Engineers Gate Manager LP’s holdings in Urban Outfitters were worth $30,344,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Urban Outfitters during the second quarter worth $615,160,000. California State Teachers Retirement System raised its stake in shares of Urban Outfitters by 6,498.9% in the second quarter. California State Teachers Retirement System now owns 4,540,851 shares of the apparel retailer’s stock valued at $321,765,000 after acquiring an additional 4,472,039 shares during the period. Abrams Bison Investments LLC purchased a new stake in shares of Urban Outfitters in the fourth quarter valued at $127,114,000. Balyasny Asset Management L.P. lifted its holdings in shares of Urban Outfitters by 5,360.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock worth $44,155,000 after acquiring an additional 606,831 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Urban Outfitters in the 4th quarter worth about $44,191,000. 77.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on URBN shares. Bank of America upped their price target on shares of Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Citigroup reissued a “neutral” rating on shares of Urban Outfitters in a research note on Friday, August 28th. Morgan Stanley restated an “overweight” rating and set a $90.00 target price on shares of Urban Outfitters in a research report on Thursday, August 27th. Wall Street Zen cut Urban Outfitters from a “buy” rating to a “hold” rating in a research note on Monday, August 31st. Finally, Wells Fargo & Company increased their price target on Urban Outfitters from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, August 27th. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.75.

Urban Outfitters Price Performance

Shares of Urban Outfitters stock opened at $77.58 on Thursday. The firm’s 50-day moving average is $75.33 and its two-hundred day moving average is $71.39. Urban Outfitters, Inc. has a 1 year low of $59.53 and a 1 year high of $85.43. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.25 and a beta of 1.26.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Thursday, August 27th. The apparel retailer reported $1.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.72. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. Urban Outfitters had a net margin of 8.79% and a return on equity of 18.64%. Urban Outfitters’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $1.58 earnings per share. On average, equities analysts expect that Urban Outfitters, Inc. will post 6.16 earnings per share for the current year.

Insiders Place Their Bets

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 5,700 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $80.75, for a total transaction of $460,275.00. Following the sale, the chief financial officer owned 11,323 shares of the company’s stock, valued at approximately $914,332.25. This trade represents a 33.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 32.10% of the stock is currently owned by corporate insiders.

Urban Outfitters Company 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.