The Manufacturers Life Insurance Company acquired a new stake in Urban Outfitters, Inc. (NASDAQ:URBN – Free Report) during the second quarter, HoldingsChannel.com reports. The fund acquired 31,638 shares of the apparel retailer’s stock, valued at approximately $2,242,000.
Several other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Urban Outfitters during the second quarter worth $615,160,000. Abrams Bison Investments LLC acquired a new position in Urban Outfitters in the fourth quarter valued at $127,114,000. Balyasny Asset Management L.P. boosted its position in Urban Outfitters by 5,360.2% during the third quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock valued at $44,155,000 after acquiring an additional 606,831 shares during the last quarter. Norges Bank bought a new stake in Urban Outfitters during the fourth quarter valued at $44,191,000. Finally, UBS Group AG grew its holdings in Urban Outfitters by 339.3% during the 4th quarter. UBS Group AG now owns 641,454 shares of the apparel retailer’s stock worth $48,276,000 after acquiring an additional 495,441 shares during the period. 77.61% of the stock is currently owned by institutional investors and hedge funds.
Urban Outfitters Trading Down 0.7%
Shares of NASDAQ URBN opened at $78.75 on Thursday. The firm has a market capitalization of $6.74 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.25 and a beta of 1.26. The firm’s 50-day moving average price is $74.49 and its 200-day moving average price is $71.05. Urban Outfitters, Inc. has a 1-year low of $59.53 and a 1-year high of $85.43.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on URBN shares. Barclays lifted their price objective on Urban Outfitters from $100.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. UBS Group raised their target price on Urban Outfitters from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Weiss Ratings upgraded Urban Outfitters from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 24th. Morgan Stanley reissued an “overweight” rating and issued a $90.00 price target on shares of Urban Outfitters in a research note on Thursday, August 27th. Finally, Citigroup restated a “neutral” rating on shares of Urban Outfitters in a report on Friday, August 28th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.64.
Check Out Our Latest Stock Report on URBN
Urban Outfitters Company Profile
Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.
The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.
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