Forum Financial Management LP Invests $259,000 in Urban Outfitters, Inc. $URBN

Forum Financial Management LP bought a new stake in Urban Outfitters, Inc. (NASDAQ:URBN) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 3,575 shares of the apparel retailer’s stock, valued at approximately $259,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. raised its holdings in shares of Urban Outfitters by 180.2% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer’s stock valued at $34,000 after purchasing an additional 301 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Urban Outfitters in the second quarter valued at $1,872,000. Moran Wealth Management LLC acquired a new stake in Urban Outfitters in the second quarter valued at $264,000. Yousif Capital Management LLC lifted its holdings in Urban Outfitters by 1.9% during the 2nd quarter. Yousif Capital Management LLC now owns 21,313 shares of the apparel retailer’s stock worth $1,546,000 after buying an additional 404 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Urban Outfitters by 137.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 221,655 shares of the apparel retailer’s stock worth $16,312,000 after acquiring an additional 128,249 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

Urban Outfitters Trading Down 0.1%

URBN stock opened at $67.68 on Tuesday. The firm has a 50 day moving average of $70.82 and a 200-day moving average of $68.09. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.07 and a beta of 1.26. Urban Outfitters, Inc. has a 12-month low of $35.57 and a 12-month high of $80.71.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Wednesday, August 27th. The apparel retailer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.14. Urban Outfitters had a return on equity of 18.43% and a net margin of 8.15%.The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the business posted $1.24 EPS. Urban Outfitters’s quarterly revenue was up 11.3% on a year-over-year basis. Sell-side analysts forecast that Urban Outfitters, Inc. will post 3.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Urban Outfitters news, CEO Tricia D. Smith sold 3,400 shares of the company’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $69.77, for a total value of $237,218.00. Following the sale, the chief executive officer owned 10,077 shares of the company’s stock, valued at $703,072.29. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Egan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $70.12, for a total transaction of $70,120.00. Following the completion of the sale, the director owned 14,250 shares in the company, valued at $999,210. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,400 shares of company stock worth $3,118,738. Insiders own 31.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on URBN shares. Citigroup restated a “neutral” rating and set a $76.00 target price (up previously from $75.00) on shares of Urban Outfitters in a research note on Wednesday, August 20th. Telsey Advisory Group raised their price objective on shares of Urban Outfitters from $72.00 to $80.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Wall Street Zen cut shares of Urban Outfitters from a “strong-buy” rating to a “buy” rating in a report on Sunday. JPMorgan Chase & Co. increased their target price on shares of Urban Outfitters from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Urban Outfitters in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.91.

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.