Turtle Creek Asset Management Inc. lowered its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 19.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,952,550 shares of the apparel retailer’s stock after selling 716,550 shares during the quarter. Urban Outfitters comprises 7.0% of Turtle Creek Asset Management Inc.’s portfolio, making the stock its 7th largest position. Turtle Creek Asset Management Inc. owned approximately 2.65% of Urban Outfitters worth $70,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in URBN. Shapiro Capital Management LLC increased its position in shares of Urban Outfitters by 586.5% during the second quarter. Shapiro Capital Management LLC now owns 8,827,740 shares of the apparel retailer’s stock valued at $163,666,000 after buying an additional 7,541,840 shares during the period. Senvest Management LLC purchased a new position in shares of Urban Outfitters during the third quarter valued at about $36,629,000. Dimensional Fund Advisors LP increased its position in shares of Urban Outfitters by 84.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,199,015 shares of the apparel retailer’s stock valued at $59,310,000 after buying an additional 1,462,130 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Urban Outfitters during the second quarter valued at about $23,205,000. Finally, Lord Abbett & CO. LLC increased its position in shares of Urban Outfitters by 59.2% during the second quarter. Lord Abbett & CO. LLC now owns 1,829,967 shares of the apparel retailer’s stock valued at $33,928,000 after buying an additional 680,511 shares during the period. Institutional investors own 86.54% of the company’s stock.

Urban Outfitters, Inc. (URBN) opened at $32.31 on Wednesday. The firm has a market cap of $3,478.02, a P/E ratio of 21.00, a P/E/G ratio of 1.80 and a beta of 0.73. Urban Outfitters, Inc. has a 52-week low of $16.19 and a 52-week high of $35.55.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings data on Monday, November 20th. The apparel retailer reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.08. Urban Outfitters had a net margin of 4.81% and a return on equity of 13.34%. The company had revenue of $892.77 million for the quarter, compared to the consensus estimate of $860.64 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. equities analysts forecast that Urban Outfitters, Inc. will post 1.55 earnings per share for the current fiscal year.

Urban Outfitters declared that its board has authorized a stock buyback program on Thursday, August 24th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

URBN has been the topic of several research analyst reports. Bank of America set a $24.00 price target on shares of Urban Outfitters and gave the company a “buy” rating in a research report on Wednesday, August 16th. KeyCorp set a $26.00 price target on shares of Urban Outfitters and gave the company a “buy” rating in a research report on Wednesday, August 16th. Jefferies Group set a $25.00 price target on shares of Urban Outfitters and gave the company a “buy” rating in a research report on Wednesday, August 16th. Robert W. Baird set a $22.00 price target on shares of Urban Outfitters and gave the company a “buy” rating in a research report on Wednesday, August 16th. Finally, SunTrust Banks reiterated a “buy” rating on shares of Urban Outfitters in a research report on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Urban Outfitters currently has an average rating of “Hold” and an average price target of $24.20.

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Urban Outfitters 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.

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

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