Assenagon Asset Management S.A. Acquires 62,343 Shares of Urban Outfitters, Inc. (NASDAQ:URBN)

Assenagon Asset Management S.A. increased its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 80.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,361 shares of the apparel retailer’s stock after purchasing an additional 62,343 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Urban Outfitters were worth $5,339,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in shares of Urban Outfitters by 138.8% in the 3rd quarter. Blue Trust Inc. now owns 609 shares of the apparel retailer’s stock valued at $25,000 after acquiring an additional 354 shares in the last quarter. Quarry LP increased its position in shares of Urban Outfitters by 1,825.0% during the 2nd quarter. Quarry LP now owns 924 shares of the apparel retailer’s stock worth $38,000 after purchasing an additional 876 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Urban Outfitters during the 2nd quarter worth approximately $42,000. Meeder Asset Management Inc. acquired a new stake in shares of Urban Outfitters in the 2nd quarter valued at approximately $48,000. Finally, Innealta Capital LLC bought a new position in shares of Urban Outfitters in the second quarter valued at $70,000. Institutional investors own 77.61% of the company’s stock.

Urban Outfitters Stock Performance

URBN opened at $36.56 on Wednesday. The stock has a fifty day moving average of $36.77 and a 200-day moving average of $40.27. The company has a market capitalization of $3.37 billion, a P/E ratio of 11.18, a P/E/G ratio of 0.85 and a beta of 1.49. Urban Outfitters, Inc. has a fifty-two week low of $31.37 and a fifty-two week high of $48.90.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Wednesday, August 21st. The apparel retailer reported $1.24 earnings per share 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 business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the company earned $1.10 EPS. The business’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts predict that Urban Outfitters, Inc. will post 3.63 earnings per share for the current fiscal year.

Insider Activity at Urban Outfitters

In other Urban Outfitters news, CEO Tricia D. Smith sold 11,730 shares of the firm’s stock in a transaction 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 document filed with the SEC, which is accessible through the SEC website. 31.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on URBN. Telsey Advisory Group lowered shares of Urban Outfitters from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $49.00 to $44.00 in a research report on Thursday, August 22nd. BMO Capital Markets reduced their price target on Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating for the company in a report on Thursday, August 22nd. Barclays dropped their price objective on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, August 22nd. Wells Fargo & Company reduced their target price on Urban Outfitters from $48.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Finally, Bank of America dropped their price target on Urban Outfitters from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.30.

Urban Outfitters 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.