Hsbc Holdings PLC Sells 30,413 Shares of Urban Outfitters, Inc. $URBN

Hsbc Holdings PLC trimmed its stake in Urban Outfitters, Inc. (NASDAQ:URBN) by 44.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 37,652 shares of the apparel retailer’s stock after selling 30,413 shares during the period. Hsbc Holdings PLC’s holdings in Urban Outfitters were worth $2,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. acquired a new position in shares of Urban Outfitters during the fourth quarter valued at about $27,000. Brown Brothers Harriman & Co. increased its stake in Urban Outfitters by 815.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer’s stock valued at $28,000 after acquiring an additional 326 shares during the period. Salomon & Ludwin LLC increased its stake in Urban Outfitters by 58.4% during the fourth quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 149 shares during the period. Richardson Financial Services Inc. raised its holdings in Urban Outfitters by 90.3% in the 4th quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 205 shares in the last quarter. Finally, Spire Wealth Management raised its holdings in Urban Outfitters by 83.3% in the 4th quarter. Spire Wealth Management now owns 440 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 77.61% of the company’s stock.

Urban Outfitters Trading Up 0.5%

Shares of URBN opened at $69.97 on Friday. Urban Outfitters, Inc. has a 1 year low of $59.53 and a 1 year high of $84.35. The stock has a 50 day simple moving average of $72.44 and a 200-day simple moving average of $70.12. The stock has a market cap of $5.99 billion, a PE ratio of 13.43, a PEG ratio of 1.29 and a beta of 1.22.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, beating the consensus estimate of $1.12 by $0.18. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm earned $1.16 EPS. Urban Outfitters’s quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts forecast that Urban Outfitters, Inc. will post 6.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

URBN has been the topic of several recent research reports. Weiss Ratings raised Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 26th. The Goldman Sachs Group upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and upped their target price for the company from $76.00 to $93.00 in a research note on Monday, July 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $89.00 target price on shares of Urban Outfitters in a research report on Monday, July 6th. Wall Street Zen upgraded shares of Urban Outfitters from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Zacks Research upgraded shares of Urban Outfitters from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Urban Outfitters has an average rating of “Moderate Buy” and an average target price of $87.91.

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.42, for a total transaction of $369,743.12. Following the completion of the transaction, the chief financial officer directly owned 17,023 shares of the company’s stock, valued at approximately $1,249,828.66. This trade represents a 22.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Azeez Hayne sold 8,733 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total transaction of $639,080.94. The SEC filing for this sale provides additional information. Corporate insiders own 32.10% of the company’s stock.

About Urban Outfitters

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.