Scientech Research LLC Takes $1.03 Million Position in Urban Outfitters, Inc. (NASDAQ:URBN)

Scientech Research LLC bought a new stake in Urban Outfitters, Inc. (NASDAQ:URBN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 25,116 shares of the apparel retailer’s stock, valued at approximately $1,031,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in Urban Outfitters by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 52,100 shares of the apparel retailer’s stock worth $2,139,000 after buying an additional 3,769 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in Urban Outfitters during the second quarter worth approximately $4,710,000. Dark Forest Capital Management LP grew its position in Urban Outfitters by 92.0% during the second quarter. Dark Forest Capital Management LP now owns 21,654 shares of the apparel retailer’s stock worth $889,000 after buying an additional 10,377 shares in the last quarter. Marshall Wace LLP grew its position in Urban Outfitters by 116.3% during the second quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer’s stock worth $93,956,000 after buying an additional 1,230,771 shares in the last quarter. Finally, Bank of Montreal Can grew its position in Urban Outfitters by 30.0% during the second quarter. Bank of Montreal Can now owns 9,672 shares of the apparel retailer’s stock worth $435,000 after buying an additional 2,232 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

Wall Street Analysts Forecast Growth

URBN has been the topic of a number of analyst reports. BMO Capital Markets reduced their price target on Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating on the stock in a research report on Thursday, August 22nd. Telsey Advisory Group cut Urban Outfitters from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $49.00 to $44.00 in a research note on Thursday, August 22nd. Bank of America cut their target price on Urban Outfitters from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Barclays cut their target price on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating for the company in a research note on Thursday, August 22nd. Finally, Morgan Stanley cut their target price 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 research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.30.

Insider Activity

In other news, Director Harry S. Cherken, Jr. sold 5,000 shares of the 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 transaction, the director now directly owns 565,296 shares in the company, valued at approximately $27,303,796.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Tricia D. Smith sold 11,730 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $35.29, for a total value of $413,951.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry S. Cherken, Jr. sold 5,000 shares of the stock in a transaction on Friday, July 12th. The shares were 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 owns 565,296 shares of the company’s stock, valued at $27,303,796.80. The disclosure for this sale can be found here. 31.80% of the stock is owned by corporate insiders.

Urban Outfitters Stock Performance

Shares of URBN opened at $38.32 on Friday. Urban Outfitters, Inc. has a 52 week low of $30.67 and a 52 week high of $48.90. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.93 and a beta of 1.50. The stock has a fifty day moving average of $39.40 and a 200-day moving average of $41.10.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Wednesday, August 21st. The apparel retailer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.24. Urban Outfitters had a return on equity of 15.49% and a net margin of 5.83%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the company earned $1.10 EPS. Urban Outfitters’s revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts forecast that Urban Outfitters, Inc. will post 3.63 EPS for the current year.

Urban Outfitters Company Profile

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.