Hennessy Advisors Inc. Has $10.59 Million Holdings in Urban Outfitters, Inc. (NASDAQ:URBN)

Hennessy Advisors Inc. cut its stake in Urban Outfitters, Inc. (NASDAQ:URBN) by 10.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 202,100 shares of the apparel retailer’s stock after selling 23,100 shares during the period. Hennessy Advisors Inc. owned approximately 0.22% of Urban Outfitters worth $10,590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in URBN. Allspring Global Investments Holdings LLC boosted its stake in Urban Outfitters by 1,016.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 131,606 shares of the apparel retailer’s stock worth $7,223,000 after purchasing an additional 119,820 shares during the period. Asset Management One Co. Ltd. boosted its stake in Urban Outfitters by 38.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,699 shares of the apparel retailer’s stock worth $95,000 after purchasing an additional 470 shares during the period. Principal Financial Group Inc. boosted its stake in Urban Outfitters by 3.7% in the 4th quarter. Principal Financial Group Inc. now owns 343,259 shares of the apparel retailer’s stock worth $18,838,000 after purchasing an additional 12,184 shares during the period. CIBC Asset Management Inc acquired a new position in Urban Outfitters in the 4th quarter worth $270,000. Finally, New York State Common Retirement Fund boosted its stake in Urban Outfitters by 45.2% in the 4th quarter. New York State Common Retirement Fund now owns 28,804 shares of the apparel retailer’s stock worth $1,581,000 after purchasing an additional 8,966 shares during the period. 77.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on URBN. Wall Street Zen upgraded shares of Urban Outfitters from a “buy” rating to a “strong-buy” rating in a research note on Saturday. UBS Group increased their price objective on shares of Urban Outfitters from $54.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 28th. BMO Capital Markets set a $76.00 price objective on shares of Urban Outfitters and gave the stock a “market perform” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. upgraded shares of Urban Outfitters from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $63.00 to $78.00 in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group upgraded shares of Urban Outfitters from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $50.00 to $70.00 in a research note on Friday, June 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.09.

Urban Outfitters Stock Performance

Shares of URBN stock opened at $68.01 on Friday. The firm’s 50-day moving average is $59.09 and its 200-day moving average is $55.64. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.02 and a beta of 1.45. Urban Outfitters, Inc. has a 52-week low of $33.86 and a 52-week high of $75.80.

Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.35. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. Urban Outfitters’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. Sell-side analysts predict that Urban Outfitters, Inc. will post 3.91 EPS for the current fiscal year.

Insider Activity

In other Urban Outfitters news, CEO Tricia D. Smith sold 4,500 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $70.52, for a total value of $317,340.00. Following the transaction, the chief executive officer now directly owns 13,477 shares of the company’s stock, valued at $950,398.04. This represents a 25.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kotzman Kelly Campbell sold 6,800 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $75.10, for a total transaction of $510,680.00. Following the completion of the transaction, the director now directly owns 4,750 shares in the company, valued at approximately $356,725. This represents a 58.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 159,156 shares of company stock valued at $11,636,158. 31.60% of the stock is owned by company insiders.

Urban Outfitters Company 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.