Cannell & Spears LLC Buys New Stake in Urban Outfitters, Inc. (NASDAQ:URBN)

Cannell & Spears LLC purchased a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 110,585 shares of the apparel retailer’s stock, valued at approximately $6,069,000. Cannell & Spears LLC owned 0.12% of Urban Outfitters as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Urban Outfitters by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock worth $56,765,000 after purchasing an additional 18,249 shares during the period. Friedenthal Financial acquired a new stake in shares of Urban Outfitters in the 4th quarter worth approximately $765,000. Petrus Trust Company LTA bought a new position in shares of Urban Outfitters in the third quarter valued at approximately $642,000. State Street Corp increased its stake in shares of Urban Outfitters by 1.1% during the third quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock valued at $107,244,000 after acquiring an additional 31,100 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Urban Outfitters by 1,016.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 131,606 shares of the apparel retailer’s stock worth $7,223,000 after purchasing an additional 119,820 shares in the last quarter. Institutional investors own 77.61% of the company’s stock.

Insider Transactions at Urban Outfitters

In other Urban Outfitters news, Director Wesley S. Mcdonald sold 8,300 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $58.44, for a total value of $485,052.00. Following the completion of the sale, the director now owns 15,450 shares of the company’s stock, valued at $902,898. The trade was a 34.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harry S. Cherken, Jr. sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $57.31, for a total value of $3,152,050.00. Following the sale, the director now directly owns 510,296 shares of the company’s stock, valued at $29,245,063.76. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,976 shares of company stock valued at $5,573,263 in the last three months. Corporate insiders own 31.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on URBN. Wells Fargo & Company increased their price target on Urban Outfitters from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Barclays lifted their target price on Urban Outfitters from $63.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Morgan Stanley raised shares of Urban Outfitters from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $41.00 to $63.00 in a report on Tuesday, January 21st. StockNews.com raised shares of Urban Outfitters from a “hold” rating to a “buy” rating in a research note on Saturday, March 1st. Finally, UBS Group increased their target price on shares of Urban Outfitters from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Urban Outfitters currently has a consensus rating of “Hold” and a consensus target price of $56.00.

Urban Outfitters Stock Up 1.8 %

URBN opened at $52.40 on Tuesday. The firm has a market capitalization of $4.84 billion, a P/E ratio of 15.01, a PEG ratio of 1.02 and a beta of 1.56. The stock has a fifty day moving average of $54.53 and a 200-day moving average of $47.85. Urban Outfitters, Inc. has a 12-month low of $33.86 and a 12-month high of $61.16.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 EPS for the quarter, topping the consensus estimate of $0.89 by $0.15. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. On average, analysts expect that Urban Outfitters, Inc. will post 3.91 earnings per share for the current fiscal 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.