Urban Outfitters, Inc. (NASDAQ:URBN) Short Interest Update

Urban Outfitters, Inc. (NASDAQ:URBN) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 4,950,000 shares, a growth of 20.1% from the March 31st total of 4,120,000 shares. Approximately 8.3% of the shares of the company are short sold. Based on an average trading volume of 1,560,000 shares, the days-to-cover ratio is presently 3.2 days.

Urban Outfitters stock opened at $37.88 on Wednesday. Urban Outfitters has a 52 week low of $14.41 and a 52 week high of $41.95. The business has a 50-day simple moving average of $37.83 and a 200 day simple moving average of $30.76. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -473.50, a PEG ratio of 8.80 and a beta of 1.61.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Monday, March 1st. The apparel retailer reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02. Urban Outfitters had a positive return on equity of 2.30% and a negative net margin of 0.22%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the business earned $0.50 earnings per share. The firm’s revenue was down 6.9% on a year-over-year basis. Equities research analysts predict that Urban Outfitters will post 0.18 EPS for the current year.

URBN has been the subject of a number of recent research reports. Royal Bank of Canada initiated coverage on Urban Outfitters in a research report on Friday, April 23rd. They issued a “sector perform” rating and a $34.00 target price for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell decreased their target price on Urban Outfitters from $33.00 to $31.00 in a research report on Wednesday, January 13th. Smith Barney Citigroup decreased their target price on Urban Outfitters from $33.00 to $31.00 in a research report on Wednesday, January 13th. Morgan Stanley lifted their price target on Urban Outfitters from $37.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, April 19th. Finally, MKM Partners lifted their price target on Urban Outfitters from $29.00 to $34.00 in a research report on Wednesday, March 3rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.50.

In other Urban Outfitters news, CAO Azeez Hayne sold 4,000 shares of the firm’s stock in a transaction on Thursday, April 29th. The stock was sold at an average price of $38.16, for a total value of $152,640.00. Following the completion of the sale, the chief accounting officer now directly owns 2,261 shares of the company’s stock, valued at $86,279.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Frank Conforti sold 18,000 shares of the firm’s stock in a transaction on Tuesday, April 13th. The stock was sold at an average price of $38.00, for a total value of $684,000.00. Following the completion of the sale, the chief operating officer now directly owns 8,833 shares of the company’s stock, valued at $335,654. The disclosure for this sale can be found here. Insiders have sold 47,802 shares of company stock worth $1,797,040 over the last quarter. 30.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. CLARET ASSET MANAGEMENT Corp bought a new stake in Urban Outfitters during the first quarter worth about $224,000. Mount Yale Investment Advisors LLC bought a new stake in Urban Outfitters during the first quarter worth about $267,000. Victory Capital Management Inc. bought a new stake in Urban Outfitters during the first quarter worth about $426,000. The Manufacturers Life Insurance Company lifted its stake in Urban Outfitters by 6.4% during the first quarter. The Manufacturers Life Insurance Company now owns 517,432 shares of the apparel retailer’s stock worth $19,244,000 after purchasing an additional 31,064 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in Urban Outfitters by 1.6% during the first quarter. State of Michigan Retirement System now owns 25,366 shares of the apparel retailer’s stock worth $943,000 after purchasing an additional 400 shares during the last quarter. 69.79% of the stock is owned by hedge funds and other institutional investors.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, wholesale, and Subscription. 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 casual apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.

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