OppenheimerFunds Inc. reduced its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 10.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,167 shares of the apparel retailer’s stock after selling 3,649 shares during the quarter. OppenheimerFunds Inc.’s holdings in Urban Outfitters were worth $953,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Oregon Public Employees Retirement Fund increased its holdings in Urban Outfitters by 3,059.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,003,171 shares of the apparel retailer’s stock worth $30,000 after purchasing an additional 971,424 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Urban Outfitters in the 4th quarter worth about $31,000. Bessemer Group Inc. increased its holdings in Urban Outfitters by 105.5% in the 4th quarter. Bessemer Group Inc. now owns 972 shares of the apparel retailer’s stock worth $32,000 after purchasing an additional 499 shares in the last quarter. Parallel Advisors LLC increased its holdings in Urban Outfitters by 114.9% in the 1st quarter. Parallel Advisors LLC now owns 1,180 shares of the apparel retailer’s stock worth $35,000 after purchasing an additional 631 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Urban Outfitters by 178.1% in the first quarter. Signaturefd LLC now owns 1,232 shares of the apparel retailer’s stock valued at $37,000 after buying an additional 789 shares during the period. Institutional investors and hedge funds own 75.45% of the company’s stock.
URBN has been the subject of several recent research reports. BidaskClub cut Urban Outfitters from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. ValuEngine cut Urban Outfitters from a “hold” rating to a “sell” rating in a research note on Saturday, February 2nd. Deutsche Bank set a $33.00 price target on Urban Outfitters and gave the company a “hold” rating in a research note on Friday, February 8th. Royal Bank of Canada decreased their price target on Urban Outfitters from $35.00 to $29.00 and set a “market perform” rating for the company in a research note on Wednesday, March 6th. Finally, Zacks Investment Research cut Urban Outfitters from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. Urban Outfitters currently has an average rating of “Hold” and an average price target of $40.24.
Urban Outfitters (NASDAQ:URBN) last released its earnings results on Tuesday, March 5th. The apparel retailer reported $0.83 EPS for the quarter, topping the consensus estimate of $0.78 by $0.05. Urban Outfitters had a return on equity of 21.03% and a net margin of 7.54%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the firm posted $0.62 earnings per share. As a group, sell-side analysts predict that Urban Outfitters, Inc. will post 2.59 earnings per share for the current year.
In other Urban Outfitters news, COO Calvin Hollinger sold 23,813 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $29.13, for a total value of $693,672.69. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Frank Conforti sold 22,937 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $29.30, for a total value of $672,054.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,200 shares of company stock worth $3,237,851. Corporate insiders own 24.80% of the company’s stock.
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About Urban Outfitters
Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates in two segments, Retail and wholesale. 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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