Wedge Capital Management L L P NC Trims Stock Position in Urban Outfitters, Inc. $URBN

Wedge Capital Management L L P NC trimmed its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 3.5% in the second quarter, Holdings Channel reports. The fund owned 487,891 shares of the apparel retailer’s stock after selling 17,720 shares during the period. Wedge Capital Management L L P NC’s holdings in Urban Outfitters were worth $34,572,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Maryland State Retirement & Pension System grew its holdings in Urban Outfitters by 1.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 7,880 shares of the apparel retailer’s stock worth $593,000 after acquiring an additional 148 shares during the period. Salomon & Ludwin LLC raised its position in Urban Outfitters by 58.4% in the fourth quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 149 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Urban Outfitters by 10.1% in the second quarter. GAMMA Investing LLC now owns 2,049 shares of the apparel retailer’s stock valued at $145,000 after acquiring an additional 188 shares during the period. Lido Advisors LLC lifted its holdings in Urban Outfitters by 2.7% in the fourth quarter. Lido Advisors LLC now owns 7,367 shares of the apparel retailer’s stock valued at $533,000 after acquiring an additional 193 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Urban Outfitters by 1.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,319 shares of the apparel retailer’s stock worth $927,000 after purchasing an additional 231 shares in the last quarter. 77.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 5,036 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.42, for a total transaction of $369,743.12. Following the sale, the chief financial officer owned 17,023 shares in the company, valued at approximately $1,249,828.66. This represents a 22.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Azeez Hayne sold 8,733 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total transaction of $639,080.94. The SEC filing for this sale provides additional information. Company insiders own 32.10% of the company’s stock.

Urban Outfitters Stock Down 0.1%

Shares of URBN stock opened at $79.43 on Wednesday. The stock has a market cap of $6.80 billion, a P/E ratio of 15.25, a P/E/G ratio of 1.47 and a beta of 1.23. Urban Outfitters, Inc. has a fifty-two week low of $59.53 and a fifty-two week high of $84.35. The business has a fifty day simple moving average of $73.43 and a 200-day simple moving average of $70.29.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.18. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company earned $1.16 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts anticipate that Urban Outfitters, Inc. will post 6.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on URBN. Wall Street Zen raised shares of Urban Outfitters from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Weiss Ratings downgraded shares of Urban Outfitters from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday. Zacks Research upgraded shares of Urban Outfitters from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Bank of America increased their target price on shares of Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Finally, The Goldman Sachs Group upgraded shares of Urban Outfitters from a “neutral” rating to a “buy” rating and lifted their price target for the company from $76.00 to $93.00 in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Urban Outfitters has a consensus rating of “Moderate Buy” and a consensus price target of $87.91.

Urban Outfitters Company Profile

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.