Sterling Capital Management LLC Sells 19,369 Shares of Urban Outfitters, Inc. $URBN

Sterling Capital Management LLC reduced its position in Urban Outfitters, Inc. (NASDAQ:URBN) by 60.5% in the first quarter, Holdings Channel.com reports. The fund owned 12,635 shares of the apparel retailer’s stock after selling 19,369 shares during the quarter. Sterling Capital Management LLC’s holdings in Urban Outfitters were worth $800,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Abrams Bison Investments LLC purchased a new stake in Urban Outfitters in the 4th quarter worth approximately $127,114,000. Capital World Investors purchased a new position in shares of Urban Outfitters during the 3rd quarter valued at $60,795,000. Balyasny Asset Management L.P. increased its holdings in shares of Urban Outfitters by 5,360.2% in the third quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock worth $44,155,000 after purchasing an additional 606,831 shares during the period. Norges Bank bought a new position in shares of Urban Outfitters in the fourth quarter worth $44,191,000. Finally, UBS Group AG raised its position in shares of Urban Outfitters by 339.3% in the fourth quarter. UBS Group AG now owns 641,454 shares of the apparel retailer’s stock worth $48,276,000 after buying an additional 495,441 shares in the last quarter. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Insider Transactions at Urban Outfitters

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 5,036 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.42, for a total value of $369,743.12. Following the completion of the sale, the chief financial officer owned 17,023 shares in the company, valued at approximately $1,249,828.66. This trade represents a 22.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Azeez Hayne sold 8,733 shares of Urban Outfitters stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total value of $639,080.94. The disclosure for this sale is available in the SEC filing. 32.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Urban Outfitters from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Weiss Ratings upgraded Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 26th. Jefferies Financial Group reissued a “hold” rating and set a $72.00 price objective on shares of Urban Outfitters in a report on Thursday, May 21st. Barclays decreased their price objective on shares of Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, May 22nd. Finally, Bank of America raised their target price on shares of Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Urban Outfitters currently has an average rating of “Moderate Buy” and an average target price of $87.18.

Urban Outfitters Price Performance

Shares of URBN stock opened at $70.57 on Thursday. The business has a 50-day moving average of $72.31 and a 200 day moving average of $70.97. Urban Outfitters, Inc. has a 1-year low of $59.53 and a 1-year high of $84.35. The stock has a market capitalization of $6.04 billion, a PE ratio of 13.55, a P/E/G ratio of 1.32 and a beta of 1.22.

Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, topping the consensus estimate of $1.12 by $0.18. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Analysts anticipate that Urban Outfitters, Inc. will post 6.08 EPS for the current year.

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.