Mmbg Investment Advisors CO. Buys New Position in Urban Outfitters, Inc. $URBN

Mmbg Investment Advisors CO. purchased a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,815 shares of the apparel retailer’s stock, valued at approximately $554,000.

Several other large investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Urban Outfitters by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,728 shares of the apparel retailer’s stock worth $1,977,000 after acquiring an additional 1,653 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Urban Outfitters by 10.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,668 shares of the apparel retailer’s stock valued at $7,476,000 after purchasing an additional 13,554 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Urban Outfitters by 343.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,435 shares of the apparel retailer’s stock worth $177,000 after purchasing an additional 1,886 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Urban Outfitters by 125.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 274 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Urban Outfitters by 14.0% in the 2nd quarter. First Trust Advisors LP now owns 182,547 shares of the apparel retailer’s stock worth $13,242,000 after purchasing an additional 22,393 shares in the last quarter. 77.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on URBN shares. Morgan Stanley restated an “overweight” rating and issued a $89.00 target price on shares of Urban Outfitters in a research note on Monday, July 6th. Barclays dropped their price target on Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, May 22nd. Bank of America upped their price objective on Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Zacks Research cut Urban Outfitters from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 14th. Finally, Jefferies Financial Group boosted their price target on shares of Urban Outfitters from $72.00 to $79.00 and gave the stock a “hold” rating in a report on Wednesday, August 12th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.73.

Urban Outfitters Price Performance

Shares of NASDAQ URBN opened at $74.38 on Thursday. The stock has a market capitalization of $6.37 billion, a PE ratio of 14.28, a P/E/G ratio of 1.38 and a beta of 1.23. Urban Outfitters, Inc. has a one year low of $59.53 and a one year high of $84.35. The business’s fifty day moving average price is $73.87 and its 200-day moving average price is $70.58.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.18. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.16 EPS. As a group, equities analysts expect that Urban Outfitters, Inc. will post 6.13 EPS for the current fiscal year.

Insider Activity

In related news, insider Azeez Hayne sold 8,733 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $73.18, for a total value of $639,080.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Melanie Marein-Efron sold 5,036 shares of Urban Outfitters stock in a transaction that occurred on Friday, May 22nd. The shares were 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 owned 17,023 shares of the company’s stock, valued at $1,249,828.66. This represents a 22.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 32.10% of the stock is owned by company insiders.

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.