State Treasurer State of Michigan boosted its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 1.4% during the second quarter, Holdings Channel reports. The firm owned 36,400 shares of the apparel retailer’s stock after buying an additional 500 shares during the period. State Treasurer State of Michigan’s holdings in Urban Outfitters were worth $675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Robecosam AG raised 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 period. LS Investment Advisors LLC raised its position in Urban Outfitters by 12.5% in the second quarter. LS Investment Advisors LLC now owns 9,488 shares of the apparel retailer’s stock worth $176,000 after buying an additional 1,052 shares during the period. Miles Capital Inc. raised its position in 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. Bank of Nova Scotia purchased a new position in Urban Outfitters during the first quarter worth approximately $251,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Urban Outfitters during the first quarter worth approximately $253,000. Hedge funds and other institutional investors own 82.82% of the company’s stock.

Urban Outfitters, Inc. (URBN) traded down 4.37% during midday trading on Thursday, hitting $17.50. 2,991,045 shares of the stock were exchanged. 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 $18.41 and its 200 day moving average price is $21.93. The company has a market cap of $2.03 billion, a PE ratio of 10.22 and a beta of 0.66.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Tuesday, May 16th. The apparel retailer reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.03. Urban Outfitters had a return on equity of 15.88% and a net margin of 5.66%. The firm had revenue of $761.20 million during the quarter, compared to analysts’ expectations of $768.95 million. During the same period in the previous year, the firm earned $0.25 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. On average, equities research analysts forecast that Urban Outfitters, Inc. will post $1.39 earnings per share for the current fiscal year.

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A number of research analysts have recently commented on URBN shares. Bank of America Corporation restated a “buy” rating and set a $25.00 price target (down from $30.00) on shares of Urban Outfitters in a research report on Wednesday, May 17th. Jefferies Group LLC restated a “buy” rating and set a $30.00 price target on shares of Urban Outfitters in a research report on Wednesday, May 17th. Morgan Stanley restated an “equal weight” rating and set a $19.00 price target (down from $27.00) on shares of Urban Outfitters in a research report on Friday, May 19th. FBR & Co restated a “hold” rating and set a $24.00 price target (down from $28.00) on shares of Urban Outfitters in a research report on Wednesday, May 17th. Finally, Royal Bank Of Canada set a $22.00 price target on shares of Urban Outfitters and gave the company a “hold” rating in a research report on Monday, May 15th. Four 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 stock. Urban Outfitters currently has an average rating of “Hold” and a consensus target price of $25.53.

About Urban Outfitters

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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Institutional Ownership by Quarter for Urban Outfitters (NASDAQ:URBN)

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