Great Lakes Advisors LLC Makes New $1.68 Million Investment in Urban Outfitters, Inc. $URBN

Great Lakes Advisors LLC acquired a new stake in Urban Outfitters, Inc. (NASDAQ:URBN) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 23,746 shares of the apparel retailer’s stock, valued at approximately $1,683,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. bought a new position in shares of Urban Outfitters in the 4th quarter valued at approximately $27,000. Brown Brothers Harriman & Co. boosted its position in Urban Outfitters by 815.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer’s stock worth $28,000 after purchasing an additional 326 shares during the period. Salomon & Ludwin LLC boosted its holdings in shares of Urban Outfitters by 58.4% during the 4th quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock worth $31,000 after buying an additional 149 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Urban Outfitters in the 4th quarter valued at $33,000. Finally, Transamerica Financial Advisors LLC raised its holdings in Urban Outfitters by 566.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 440 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 374 shares during the period. Institutional investors own 77.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on URBN shares. JPMorgan Chase & Co. upped their price target on Urban Outfitters from $97.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings cut Urban Outfitters from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, August 7th. The Goldman Sachs Group upgraded shares of Urban Outfitters from a “neutral” rating to a “buy” rating and upped their price target for the company from $76.00 to $93.00 in a report on Monday, July 20th. Morgan Stanley reissued an “overweight” rating and issued a $89.00 price objective on shares of Urban Outfitters in a research note on Monday, July 6th. Finally, Zacks Research downgraded Urban Outfitters from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 14th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.73.

Urban Outfitters Trading Up 2.2%

Urban Outfitters stock opened at $74.24 on Friday. The stock has a 50-day moving average price of $73.72 and a two-hundred day moving average price of $70.62. Urban Outfitters, Inc. has a 12 month low of $59.53 and a 12 month high of $84.35. The company has a market capitalization of $6.36 billion, a PE ratio of 14.25, a P/E/G ratio of 1.34 and a beta of 1.23.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.18. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 earnings per share. As a group, analysts predict that Urban Outfitters, Inc. will post 6.13 earnings per share for the current fiscal year.

About Urban Outfitters

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.