Cornercap Investment Counsel Inc. Trims Stock Position in Urban Outfitters, Inc. (NASDAQ:URBN)

Cornercap Investment Counsel Inc. lessened its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 53.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,508 shares of the apparel retailer’s stock after selling 7,493 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Urban Outfitters were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in URBN. Vanguard Group Inc. boosted its position in Urban Outfitters by 5.0% during the first quarter. Vanguard Group Inc. now owns 8,054,721 shares of the apparel retailer’s stock worth $349,736,000 after acquiring an additional 382,135 shares during the last quarter. Marshall Wace LLP lifted its position in Urban Outfitters by 116.3% during the second quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer’s stock worth $93,956,000 after buying an additional 1,230,771 shares during the period. American Century Companies Inc. lifted its position in Urban Outfitters by 20.5% during the second quarter. American Century Companies Inc. now owns 1,555,067 shares of the apparel retailer’s stock worth $63,836,000 after buying an additional 264,708 shares during the period. Systematic Financial Management LP boosted its stake in Urban Outfitters by 0.4% in the 2nd quarter. Systematic Financial Management LP now owns 684,133 shares of the apparel retailer’s stock worth $28,084,000 after buying an additional 2,674 shares during the last quarter. Finally, Woodson Capital Management LP acquired a new position in shares of Urban Outfitters during the 1st quarter valued at about $27,233,000. Institutional investors and hedge funds own 77.61% of the company’s stock.

Urban Outfitters Stock Performance

Shares of URBN opened at $38.40 on Tuesday. Urban Outfitters, Inc. has a one year low of $31.37 and a one year high of $48.90. The stock’s fifty day moving average is $36.89 and its 200-day moving average is $40.15. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 0.92 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Wednesday, August 21st. The apparel retailer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.24. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Urban Outfitters had a return on equity of 15.49% and a net margin of 5.83%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $1.10 earnings per share. Analysts forecast that Urban Outfitters, Inc. will post 3.65 EPS for the current fiscal year.

Insider Transactions at Urban Outfitters

In other news, CEO Tricia D. Smith sold 11,730 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $35.29, for a total transaction of $413,951.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 31.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Bank of America lowered their target price on shares of Urban Outfitters from $52.00 to $46.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Jefferies Financial Group dropped their price objective on Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. StockNews.com lowered Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Morgan Stanley lowered their price target on Urban Outfitters from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Finally, Barclays reduced their target price on shares of Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $42.30.

About Urban Outfitters

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.