Jennison Associates LLC Acquires Shares of 31,861 Urban Outfitters, Inc. (NASDAQ:URBN)

Jennison Associates LLC acquired a new stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 31,861 shares of the apparel retailer’s stock, valued at approximately $946,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Meeder Asset Management Inc. raised its stake in shares of Urban Outfitters by 998.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 604 shares of the apparel retailer’s stock worth $25,000 after buying an additional 549 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Urban Outfitters during the 2nd quarter worth approximately $31,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Urban Outfitters by 205.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,393 shares of the apparel retailer’s stock worth $99,000 after buying an additional 1,610 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Urban Outfitters during the 2nd quarter worth approximately $99,000. Finally, Covington Capital Management purchased a new position in shares of Urban Outfitters during the 2nd quarter worth approximately $103,000. 71.08% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:URBN opened at $28.15 on Friday. The business’s 50 day moving average price is $31.35 and its 200-day moving average price is $33.48. The firm has a market capitalization of $2.76 billion, a PE ratio of 9.38, a P/E/G ratio of 0.46 and a beta of 1.55. Urban Outfitters, Inc. has a 1 year low of $26.04 and a 1 year high of $42.10.

Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Monday, November 22nd. The apparel retailer reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Urban Outfitters had a return on equity of 18.60% and a net margin of 6.93%. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 EPS. On average, analysts forecast that Urban Outfitters, Inc. will post 3.37 earnings per share for the current year.

Several equities analysts recently weighed in on the company. B. Riley dropped their price objective on Urban Outfitters from $45.00 to $44.00 in a research note on Friday, January 7th. Telsey Advisory Group lowered their target price on Urban Outfitters from $47.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday. Morgan Stanley raised their price objective on Urban Outfitters from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, November 23rd. Robert W. Baird reduced their target price on Urban Outfitters from $40.00 to $36.00 in a report on Wednesday. Finally, Zacks Investment Research lowered Urban Outfitters from a “strong-buy” rating to a “sell” rating and set a $33.00 price objective on the stock. in a research report on Tuesday, October 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $39.50.

In related news, CAO Azeez Hayne sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $35.00, for a total transaction of $38,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 27.50% of the company’s stock.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the operation of a general consumer product retail and wholesale business selling to customers through various channels including retail locations, websites, catalogs and mobile applications. It operates through the following segments: Retail, Wholesale and Subscription.

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Institutional Ownership by Quarter for Urban Outfitters (NASDAQ:URBN)

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