Dark Forest Capital Management LP Raises Stock Holdings in Urban Outfitters, Inc. (NASDAQ:URBN)

Dark Forest Capital Management LP boosted its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 92.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,654 shares of the apparel retailer’s stock after purchasing an additional 10,377 shares during the quarter. Dark Forest Capital Management LP’s holdings in Urban Outfitters were worth $889,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of URBN. Marshall Wace LLP raised its holdings in shares of Urban Outfitters by 116.3% during the second quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer’s stock valued at $93,956,000 after acquiring an additional 1,230,771 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Urban Outfitters by 30.0% during the second quarter. Bank of Montreal Can now owns 9,672 shares of the apparel retailer’s stock valued at $435,000 after acquiring an additional 2,232 shares during the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Urban Outfitters by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 9,361 shares of the apparel retailer’s stock valued at $384,000 after acquiring an additional 258 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Urban Outfitters by 7.6% during the second quarter. Public Sector Pension Investment Board now owns 124,801 shares of the apparel retailer’s stock valued at $5,123,000 after acquiring an additional 8,783 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Urban Outfitters by 52.4% during the second quarter. ProShare Advisors LLC now owns 19,374 shares of the apparel retailer’s stock valued at $795,000 after acquiring an additional 6,662 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Insiders Place Their Bets

In other Urban Outfitters news, CEO Tricia D. Smith sold 11,730 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $35.29, for a total transaction of $413,951.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Harry S. Cherken, Jr. sold 5,000 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $48.30, for a total transaction of $241,500.00. Following the completion of the transaction, the director now directly owns 565,296 shares in the company, valued at $27,303,796.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Tricia D. Smith sold 11,730 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $35.29, for a total value of $413,951.70. The disclosure for this sale can be found here. 31.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

URBN has been the subject of a number of research analyst reports. Barclays reduced their target price on Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, August 22nd. Jefferies Financial Group reduced their target price 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 raised Urban Outfitters from a “hold” rating to a “buy” rating in a report on Friday, September 20th. BMO Capital Markets cut their price target on Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating for the company in a report on Thursday, August 22nd. Finally, Bank of America cut their price target on Urban Outfitters from $52.00 to $46.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Urban Outfitters presently has a consensus rating of “Hold” and an average target price of $42.30.

Urban Outfitters Stock Up 1.2 %

URBN stock opened at $37.69 on Friday. The business has a fifty day moving average of $39.56 and a two-hundred day moving average of $41.12. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 0.93 and a beta of 1.50. Urban Outfitters, Inc. has a 52-week low of $30.67 and a 52-week high of $48.90.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Wednesday, August 21st. The apparel retailer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.24. The company 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 firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.10 earnings per share. As a group, sell-side analysts anticipate that Urban Outfitters, Inc. will post 3.63 EPS for the current year.

Urban Outfitters Profile

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.