Penserra Capital Management LLC Buys New Position in Urban Outfitters, Inc. $URBN

Penserra Capital Management LLC bought a new stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,745 shares of the apparel retailer’s stock, valued at approximately $2,447,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cullen Frost Bankers Inc. boosted its stake 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 during the last quarter. Federated Hermes Inc. raised its stake in Urban Outfitters by 17,175.0% during the first quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer’s stock worth $36,000 after buying an additional 687 shares during the last quarter. Virtus Advisers LLC acquired a new position in Urban Outfitters in the first quarter valued at $46,000. Asset Management One Co. Ltd. lifted its holdings in Urban Outfitters by 11.7% in the second quarter. Asset Management One Co. Ltd. now owns 1,340 shares of the apparel retailer’s stock valued at $97,000 after buying an additional 140 shares during the period. Finally, Quarry LP boosted its position in Urban Outfitters by 146.2% during the first quarter. Quarry LP now owns 1,418 shares of the apparel retailer’s stock valued at $74,000 after acquiring an additional 842 shares during the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

Analyst Ratings Changes

URBN has been the subject of several research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Urban Outfitters in a research report on Wednesday, October 8th. 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 report on Wednesday, August 20th. Wells Fargo & Company lifted their target price on Urban Outfitters from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, August 28th. UBS Group boosted their price target on Urban Outfitters from $78.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Finally, Zacks Research cut Urban Outfitters from a “strong-buy” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Urban Outfitters has a consensus rating of “Hold” and a consensus price target of $81.91.

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, CEO Tricia D. Smith sold 3,400 shares of Urban Outfitters stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $69.77, for a total transaction of $237,218.00. Following the completion of the transaction, the chief executive officer owned 10,077 shares in the company, valued at approximately $703,072.29. The trade was a 25.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard A. Hayne sold 10,667 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $70.46, for a total value of $751,596.82. Following the sale, the chief executive officer directly owned 18,027,939 shares of the company’s stock, valued at $1,270,248,581.94. This represents a 0.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 44,400 shares of company stock worth $3,118,738. Insiders own 31.60% of the company’s stock.

Urban Outfitters Trading Up 2.2%

URBN opened at $63.90 on Monday. The company’s fifty day moving average price is $69.08 and its two-hundred day moving average price is $69.23. Urban Outfitters, Inc. has a 1-year low of $36.48 and a 1-year high of $80.71. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.04 and a beta of 1.28.

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

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.