Alpha Paradigm Partners LLC Acquires Shares of 18,723 Urban Outfitters, Inc. (NASDAQ:URBN)

Posted by Defense World Staff on Mar 15th, 2023

Alpha Paradigm Partners LLC bought a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN – Get Rating) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 18,723 shares of the apparel retailer’s stock, valued at approximately $368,000.

Several other hedge funds also recently made changes to their positions in URBN. Turtle Creek Asset Management Inc. boosted its holdings in Urban Outfitters by 29.4% in the second quarter. Turtle Creek Asset Management Inc. now owns 7,194,907 shares of the apparel retailer’s stock worth $134,257,000 after purchasing an additional 1,634,400 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Urban Outfitters by 16.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,807,788 shares of the apparel retailer’s stock valued at $114,124,000 after buying an additional 830,302 shares during the period. Shapiro Capital Management LLC grew its position in shares of Urban Outfitters by 4.6% during the 1st quarter. Shapiro Capital Management LLC now owns 9,472,995 shares of the apparel retailer’s stock valued at $237,867,000 after buying an additional 420,001 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in Urban Outfitters during the third quarter worth about $7,930,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Urban Outfitters by 7.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,371,984 shares of the apparel retailer’s stock worth $100,241,000 after acquiring an additional 381,331 shares during the last quarter. Institutional investors and hedge funds own 77.30% of the company’s stock.

Insider Buying and Selling

In other news, insider Azeez Hayne sold 9,073 shares of Urban Outfitters stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $26.96, for a total transaction of $244,608.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Frank Conforti sold 42,000 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $27.28, for a total value of $1,145,760.00. Following the sale, the chief operating officer now directly owns 2,361 shares in the company, valued at approximately $64,408.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Azeez Hayne sold 9,073 shares of the company’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $26.96, for a total transaction of $244,608.08. The disclosure for this sale can be found here. 28.90% of the stock is owned by corporate insiders.

Urban Outfitters Price Performance

Urban Outfitters stock opened at $25.80 on Wednesday. Urban Outfitters, Inc. has a 12-month low of $17.81 and a 12-month high of $29.74. The stock has a market capitalization of $2.38 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 0.60 and a beta of 1.48. The firm has a 50 day simple moving average of $27.13 and a 200-day simple moving average of $25.00.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Urban Outfitters from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, January 23rd. Telsey Advisory Group raised their target price on Urban Outfitters from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, March 1st. Citigroup upped their price target on shares of Urban Outfitters from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, November 22nd. Robert W. Baird lifted their price objective on shares of Urban Outfitters from $23.00 to $26.00 in a research report on Tuesday, November 22nd. Finally, Morgan Stanley boosted their target price on shares of Urban Outfitters from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 15th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Urban Outfitters presently has an average rating of “Hold” and an average price target of $27.25.

About Urban Outfitters

(Get Rating)

Urban Outfitters, Inc engages in the operation of a general consumer product retail and wholesale business selling to customers through various channels including retail locations, websites, catalogs, and mobile applications. It operates through the following segments: Retail, Wholesale and Subscription.