Comerica Bank Reduces Position in Urban Outfitters, Inc. $URBN

Comerica Bank cut its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 36.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 45,764 shares of the apparel retailer’s stock after selling 25,940 shares during the quarter. Comerica Bank’s holdings in Urban Outfitters were worth $3,444,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Root Financial Partners LLC purchased a new position in shares of Urban Outfitters during the 3rd quarter worth about $25,000. Salomon & Ludwin LLC boosted its stake in shares of Urban Outfitters by 58.4% during the 4th quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 149 shares during the period. Richardson Financial Services Inc. boosted its stake in shares of Urban Outfitters by 90.3% during the 4th quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 205 shares during the period. Spire Wealth Management boosted its stake in shares of Urban Outfitters by 83.3% during the 4th quarter. Spire Wealth Management now owns 440 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 200 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in shares of Urban Outfitters by 158.4% during the 3rd quarter. Global Retirement Partners LLC now owns 460 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 282 shares during the period. 77.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Urban Outfitters

In other news, insider Margaret Hayne sold 9,333 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $70.50, for a total value of $657,976.50. Following the completion of the sale, the insider owned 1,933,859 shares of the company’s stock, valued at approximately $136,337,059.50. This represents a 0.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard A. Hayne sold 10,667 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $70.50, for a total transaction of $752,023.50. Following the completion of the sale, the chief executive officer directly owned 17,449,385 shares of the company’s stock, valued at $1,230,181,642.50. The trade was a 0.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 64,682 shares of company stock valued at $4,629,408 in the last ninety days. Corporate insiders own 32.10% of the company’s stock.

Analyst Ratings Changes

URBN has been the subject of a number of recent analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $98.00 price target on shares of Urban Outfitters in a research note on Thursday, February 26th. JPMorgan Chase & Co. lowered their price objective on shares of Urban Outfitters from $96.00 to $94.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Wall Street Zen cut shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Barclays boosted their price objective on shares of Urban Outfitters from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Finally, UBS Group reissued a “neutral” rating on shares of Urban Outfitters in a research report on Tuesday, January 13th. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $86.25.

Urban Outfitters Price Performance

Urban Outfitters stock opened at $69.01 on Monday. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.33 and a beta of 1.23. Urban Outfitters, Inc. has a 1 year low of $51.12 and a 1 year high of $84.35. The firm has a 50-day moving average of $66.68 and a two-hundred day moving average of $69.76.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings data on Wednesday, February 25th. The apparel retailer reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.19. Urban Outfitters had a net margin of 7.54% and a return on equity of 18.96%. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the company earned $1.04 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. Research analysts expect that Urban Outfitters, Inc. will post 5.84 earnings per share for the current year.

Urban Outfitters Company Profile

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.