Investors Purchase Large Volume of Urban Outfitters Put Options (URBN)

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Urban Outfitters, Inc. (NASDAQ:URBN) was the recipient of unusually large options trading on Wednesday. Stock investors bought 27,476 put options on the stock. This is an increase of 1,356% compared to the typical volume of 1,887 put options.

Shares of NASDAQ:URBN opened at $24.34 on Thursday. Urban Outfitters has a twelve month low of $24.06 and a twelve month high of $52.50. The firm has a market capitalization of $2.80 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of 0.93 and a beta of 0.53.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Tuesday, May 21st. The apparel retailer reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.05. Urban Outfitters had a return on equity of 20.02% and a net margin of 7.31%. The company had revenue of $864.41 million during the quarter, compared to analyst estimates of $857.31 million. During the same period last year, the company posted $0.38 earnings per share. Sell-side analysts predict that Urban Outfitters will post 2.59 EPS for the current year.

In related news, COO Calvin Hollinger sold 23,813 shares of the firm’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Frank Conforti sold 22,937 shares of the firm’s stock in a transaction 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. Over the last ninety days, insiders sold 104,200 shares of company stock valued at $3,237,851. 24.80% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the company. FMR LLC increased its position in Urban Outfitters by 6.4% in the first quarter. FMR LLC now owns 6,045,443 shares of the apparel retailer’s stock worth $179,186,000 after purchasing an additional 363,325 shares during the period. AQR Capital Management LLC increased its position in Urban Outfitters by 8.3% in the first quarter. AQR Capital Management LLC now owns 4,494,986 shares of the apparel retailer’s stock worth $133,231,000 after purchasing an additional 343,355 shares during the period. Dimensional Fund Advisors LP increased its position in Urban Outfitters by 22.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,764,853 shares of the apparel retailer’s stock worth $111,589,000 after purchasing an additional 680,902 shares during the period. Massachusetts Financial Services Co. MA increased its position in Urban Outfitters by 1.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,403,910 shares of the apparel retailer’s stock worth $113,009,000 after purchasing an additional 48,747 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Urban Outfitters by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 2,640,080 shares of the apparel retailer’s stock worth $107,979,000 after purchasing an additional 112,852 shares during the period. Institutional investors own 71.91% of the company’s stock.

URBN has been the subject of a number of analyst reports. BidaskClub cut Urban Outfitters from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. ValuEngine cut Urban Outfitters from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 24th. Deutsche Bank set a $33.00 price objective on Urban Outfitters and gave the company a “hold” rating in a report on Friday, February 8th. Royal Bank of Canada cut their price objective on Urban Outfitters from $35.00 to $29.00 and set a “market perform” rating for the company in a report on Wednesday, March 6th. Finally, Wedbush reissued an “average” rating and set a $28.00 price objective (down from $35.00) on shares of Urban Outfitters in a report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. Urban Outfitters presently has an average rating of “Hold” and a consensus price target of $38.79.

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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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