Credit Suisse AG Sells 96,027 Shares of Urban Outfitters, Inc. (URBN)
Credit Suisse AG decreased its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 36.5% during the first quarter, Holdings Channel reports. The firm owned 166,825 shares of the apparel retailer’s stock after selling 96,027 shares during the period. Credit Suisse AG’s holdings in Urban Outfitters were worth $3,964,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Robecosam AG boosted its position in Urban Outfitters by 22.0% in the first quarter. Robecosam AG now owns 6,100 shares of the apparel retailer’s stock worth $149,000 after buying an additional 1,100 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of Urban Outfitters by 117.7% in the first quarter. LS Investment Advisors LLC now owns 8,436 shares of the apparel retailer’s stock worth $200,000 after buying an additional 4,561 shares during the period. Miles Capital Inc. raised its stake in shares of Urban Outfitters by 0.8% in the first quarter. Miles Capital Inc. now owns 8,470 shares of the apparel retailer’s stock worth $201,000 after buying an additional 70 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Urban Outfitters during the first quarter worth about $253,000. Finally, Parkwood LLC bought a new stake in shares of Urban Outfitters during the first quarter worth about $268,000. 82.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Urban Outfitters, Inc. (NASDAQ URBN) opened at 19.29 on Friday. The company has a market cap of $2.23 billion, a PE ratio of 11.26 and a beta of 0.65. Urban Outfitters, Inc. has a 12 month low of $16.19 and a 12 month high of $40.80. The firm’s 50-day moving average price is $18.09 and its 200-day moving average price is $22.44.
Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Tuesday, May 16th. The apparel retailer reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The company had revenue of $761.20 million for the quarter, compared to analyst estimates of $768.95 million. Urban Outfitters had a return on equity of 3.62% and a net margin of 1.57%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. Equities analysts predict that Urban Outfitters, Inc. will post $1.41 EPS for the current fiscal year.
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URBN has been the subject of a number of research analyst reports. Wells Fargo & Company restated a “market perform” rating and issued a $16.00 price target (down previously from $18.00) on shares of Urban Outfitters in a research note on Friday, June 9th. Jefferies Group LLC set a $35.00 price target on shares of Urban Outfitters and gave the stock a “buy” rating in a research note on Monday, April 10th. Wolfe Research lowered shares of Urban Outfitters from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, May 9th. Bank of America Corporation reiterated a “buy” rating and set a $25.00 target price (down previously from $30.00) on shares of Urban Outfitters in a research note on Wednesday, May 17th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $25.00 target price (up previously from $24.00) on shares of Urban Outfitters in a research note on Monday, May 15th. Three equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.53.
Urban Outfitters Company Profile
Urban Outfitters, Inc is a lifestyle specialty retail company. The Company operates through two segments: Retail and Wholesale. The Company’s Retail segment consists of its Urban Outfitters, Anthropologie, Free People, Terrain and Bhldn brands, whose merchandise is sold to its customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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