Marshall Wace LLP Buys 1,230,771 Shares of Urban Outfitters, Inc. (NASDAQ:URBN)

Marshall Wace LLP increased its position in Urban Outfitters, Inc. (NASDAQ:URBN) by 116.3% in the second quarter, Holdings Channel.com reports. The fund owned 2,288,817 shares of the apparel retailer’s stock after acquiring an additional 1,230,771 shares during the quarter. Marshall Wace LLP’s holdings in Urban Outfitters were worth $93,956,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of URBN. Parallel Advisors LLC lifted its stake in Urban Outfitters by 89.7% in the 4th quarter. Parallel Advisors LLC now owns 882 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 417 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Urban Outfitters in the second quarter worth $48,000. Innealta Capital LLC bought a new stake in Urban Outfitters during the second quarter valued at $70,000. CWM LLC increased its stake in Urban Outfitters by 165.6% in the 2nd quarter. CWM LLC now owns 2,085 shares of the apparel retailer’s stock worth $86,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Urban Outfitters by 15.5% in the 2nd quarter. Signaturefd LLC now owns 2,230 shares of the apparel retailer’s stock worth $92,000 after acquiring an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Urban Outfitters Price Performance

Shares of URBN stock opened at $38.49 on Wednesday. The business has a 50-day moving average of $39.91 and a 200 day moving average of $41.17. The stock has a market capitalization of $3.55 billion, a PE ratio of 12.30, a P/E/G ratio of 0.90 and a beta of 1.50. Urban Outfitters, Inc. has a 1-year low of $30.05 and a 1-year high of $48.90.

Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Wednesday, August 21st. The apparel retailer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.24. Urban Outfitters had a net margin of 5.83% and a return on equity of 15.49%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the business earned $1.10 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Analysts anticipate that Urban Outfitters, Inc. will post 3.63 EPS for the current year.

Insider Buying and Selling at Urban Outfitters

In other news, Director Harry S. Cherken, Jr. sold 5,000 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $48.30, for a total transaction of $241,500.00. Following the completion of the sale, the director now directly owns 565,296 shares in the company, valued at $27,303,796.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Tricia D. Smith sold 11,730 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $35.29, for a total transaction of $413,951.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Harry S. Cherken, Jr. sold 5,000 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $48.30, for a total value of $241,500.00. Following the completion of the sale, the director now directly owns 565,296 shares of the company’s stock, valued at approximately $27,303,796.80. The disclosure for this sale can be found here. Corporate insiders own 31.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on URBN. Jefferies Financial Group cut their price objective on Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. StockNews.com upgraded shares of Urban Outfitters from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. Barclays cut their target price on shares of Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating for the company in a research report on Thursday, August 22nd. UBS Group raised their price target on Urban Outfitters from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Finally, Morgan Stanley dropped their price target on Urban Outfitters from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.30.

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.