III Capital Management Purchases Shares of 38,294 Urban Outfitters, Inc. $URBN

III Capital Management acquired a new position in Urban Outfitters, Inc. (NASDAQ:URBN) in the second quarter, HoldingsChannel reports. The firm acquired 38,294 shares of the apparel retailer’s stock, valued at approximately $2,714,000. Urban Outfitters comprises about 0.7% of III Capital Management’s holdings, making the stock its 21st largest position.

A number of other institutional investors also recently made changes to their positions in URBN. Eurizon Capital SGR S.p.A. purchased a new position in Urban Outfitters in the 4th quarter worth $27,000. Brown Brothers Harriman & Co. boosted its holdings in Urban Outfitters by 815.0% during the 4th 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. Caitong International Asset Management Co. Ltd bought a new position in Urban Outfitters during the 4th quarter worth approximately $33,000. Allworth Financial LP bought a new stake in Urban Outfitters in the second quarter valued at approximately $31,000. Finally, Transamerica Financial Advisors LLC increased its stake in shares of Urban Outfitters by 566.7% in the fourth quarter. Transamerica Financial Advisors LLC now owns 440 shares of the apparel retailer’s stock worth $33,000 after buying an additional 374 shares during the period. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Urban Outfitters Price Performance

NASDAQ:URBN opened at $75.78 on Wednesday. The firm’s 50-day moving average price is $73.69 and its 200-day moving average price is $70.64. The company has a market capitalization of $6.49 billion, a PE ratio of 14.55, a P/E/G ratio of 1.41 and a beta of 1.23. Urban Outfitters, Inc. has a 1-year low of $59.53 and a 1-year high of $84.35.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings raised Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Barclays cut their price objective on Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, May 22nd. Jefferies Financial Group upped their target price on Urban Outfitters from $72.00 to $79.00 and gave the company a “hold” rating in a report on Wednesday, August 12th. The Goldman Sachs Group upgraded shares of Urban Outfitters from a “neutral” rating to a “buy” rating and lifted their price target for the company from $76.00 to $93.00 in a report on Monday, July 20th. Finally, Bank of America raised their price objective on shares of Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Urban Outfitters has an average rating of “Moderate Buy” and an average price target of $89.73.

Urban Outfitters 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.