Urban Outfitters, Inc. (NASDAQ:URBN) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 23,193,017 shares, an increase of 20.8% from the August 15th total of 19,205,088 shares. Currently, 31.2% of the company’s shares are short sold. Based on an average daily volume of 7,336,192 shares, the short-interest ratio is presently 3.2 days.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. boosted its position in shares of Urban Outfitters by 0.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,691 shares of the apparel retailer’s stock valued at $198,000 after purchasing an additional 43 shares during the period. Miles Capital Inc. boosted its position in shares of Urban Outfitters by 0.8% in the 1st quarter. Miles Capital Inc. now owns 8,470 shares of the apparel retailer’s stock valued at $201,000 after purchasing an additional 70 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Urban Outfitters by 0.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 27,028 shares of the apparel retailer’s stock valued at $501,000 after purchasing an additional 154 shares during the period. Advisor Group Inc. boosted its position in shares of Urban Outfitters by 1.1% in the 2nd quarter. Advisor Group Inc. now owns 32,251 shares of the apparel retailer’s stock valued at $595,000 after purchasing an additional 338 shares during the period. Finally, Empirical Finance LLC boosted its position in shares of Urban Outfitters by 0.5% in the 2nd quarter. Empirical Finance LLC now owns 66,575 shares of the apparel retailer’s stock valued at $1,235,000 after purchasing an additional 360 shares during the period. 87.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Urban Outfitters (NASDAQ:URBN) opened at 22.76 on Friday. The company’s 50 day moving average price is $20.09 and its 200-day moving average price is $20.80. Urban Outfitters has a 12-month low of $16.19 and a 12-month high of $40.80. The firm has a market cap of $2.50 billion, a P/E ratio of 15.23 and a beta of 0.59.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Tuesday, August 15th. The apparel retailer reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. The firm had revenue of $873.00 million during the quarter, compared to analysts’ expectations of $860.80 million. Urban Outfitters had a return on equity of 13.61% and a net margin of 4.92%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. On average, equities research analysts anticipate that Urban Outfitters will post $1.41 EPS for the current year.

Urban Outfitters announced that its Board of Directors has initiated a share repurchase plan on Thursday, August 24th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the apparel retailer to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Several brokerages have recently commented on URBN. Jefferies Group LLC restated a “buy” rating and set a $23.00 price target on shares of Urban Outfitters in a research note on Friday, June 9th. Robert W. Baird set a $22.00 price target on Urban Outfitters and gave the company a “buy” rating in a research note on Wednesday, August 16th. KeyCorp set a $26.00 price target on Urban Outfitters and gave the company a “buy” rating in a research note on Wednesday, August 16th. Bank of America Corporation set a $24.00 price target on Urban Outfitters and gave the company a “buy” rating in a research note on Wednesday, August 16th. Finally, SunTrust Banks, Inc. restated a “buy” rating on shares of Urban Outfitters in a research note on Wednesday, August 16th. Three investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.20.

COPYRIGHT VIOLATION WARNING: This news story was first posted by Daily Political and is the property of of Daily Political. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The legal version of this news story can be viewed at https://www.dailypolitical.com/2017/09/16/urban-outfitters-inc-urbn-short-interest-update.html.

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.

Receive News & Ratings for Urban Outfitters Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Urban Outfitters Inc. and related companies with MarketBeat.com's FREE daily email newsletter.