Cerity Partners LLC Invests $8.34 Million in Urban Outfitters, Inc. (NASDAQ:URBN)

Cerity Partners LLC acquired a new stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 217,700 shares of the apparel retailer's stock, valued at approximately $8,340,000. Cerity Partners LLC owned about 0.24% of Urban Outfitters at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its stake in shares of Urban Outfitters by 287.4% during the second quarter. Harbor Capital Advisors Inc. now owns 46,300 shares of the apparel retailer's stock worth $1,901,000 after buying an additional 34,350 shares during the last quarter. Wesbanco Bank Inc. bought a new stake in shares of Urban Outfitters during the second quarter worth $582,000. Nisa Investment Advisors LLC grew its stake in shares of Urban Outfitters by 5.6% during the second quarter. Nisa Investment Advisors LLC now owns 10,026 shares of the apparel retailer's stock worth $412,000 after buying an additional 531 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Urban Outfitters during the third quarter worth $2,143,000. Finally, Panagora Asset Management Inc. grew its stake in shares of Urban Outfitters by 27.0% during the second quarter. Panagora Asset Management Inc. now owns 420,930 shares of the apparel retailer's stock worth $17,279,000 after buying an additional 89,411 shares during the last quarter. 77.61% of the stock is owned by institutional investors.

Urban Outfitters Stock Performance

Shares of NASDAQ URBN traded up $7.35 during trading on Thursday, hitting $47.49. 8,113,721 shares of the company traded hands, compared to its average volume of 1,709,596. The business's fifty day moving average is $37.44 and its 200 day moving average is $40.11. Urban Outfitters, Inc. has a fifty-two week low of $33.17 and a fifty-two week high of $48.90. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 0.95 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.28. Urban Outfitters had a net margin of 5.83% and a return on equity of 15.49%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The business's quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts predict that Urban Outfitters, Inc. will post 3.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Robert W. Baird lifted their price target on shares of Urban Outfitters from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Wednesday. Jefferies Financial Group cut their price target on shares of Urban Outfitters from $35.00 to $34.00 and set an "underperform" rating on the stock in a report on Thursday, August 22nd. Telsey Advisory Group lifted their price target on shares of Urban Outfitters from $44.00 to $46.00 and gave the stock a "market perform" rating in a report on Wednesday. Citigroup upgraded shares of Urban Outfitters from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $42.00 to $59.00 in a report on Wednesday. Finally, Bank of America lifted their price target on shares of Urban Outfitters from $46.00 to $53.00 and gave the stock a "buy" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $46.27.

Insider Activity

In other news, CEO Tricia D. Smith sold 11,730 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $35.29, for a total transaction of $413,951.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 31.80% of the company's stock.

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.