Formula Growth Ltd. Buys New Shares in Urban Outfitters, Inc. (NASDAQ:URBN)

Formula Growth Ltd. bought a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 90,000 shares of the apparel retailer's stock, valued at approximately $4,939,000. Urban Outfitters makes up approximately 1.7% of Formula Growth Ltd.'s investment portfolio, making the stock its 12th largest holding. Formula Growth Ltd. owned 0.10% of Urban Outfitters at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 1492 Capital Management LLC grew its holdings in Urban Outfitters by 243.0% during the fourth quarter. 1492 Capital Management LLC now owns 31,315 shares of the apparel retailer's stock worth $1,719,000 after acquiring an additional 22,185 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Urban Outfitters by 114.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 315,308 shares of the apparel retailer's stock worth $17,304,000 after acquiring an additional 168,008 shares in the last quarter. EAM Global Investors LLC acquired a new position in shares of Urban Outfitters in the 4th quarter worth $4,936,000. EAM Investors LLC purchased a new stake in shares of Urban Outfitters during the fourth quarter valued at $4,350,000. Finally, Summit Investment Advisors Inc. boosted its position in shares of Urban Outfitters by 5.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,628 shares of the apparel retailer's stock valued at $364,000 after purchasing an additional 351 shares during the period. 77.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on URBN shares. JPMorgan Chase & Co. decreased their target price on shares of Urban Outfitters from $56.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Wells Fargo & Company boosted their target price on shares of Urban Outfitters from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Robert W. Baird upped their price target on Urban Outfitters from $60.00 to $62.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. Telsey Advisory Group lifted their target price on Urban Outfitters from $56.00 to $59.00 and gave the company a "market perform" rating in a research note on Thursday, February 27th. Finally, Citigroup dropped their price objective on shares of Urban Outfitters from $65.00 to $54.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Urban Outfitters currently has a consensus rating of "Hold" and a consensus target price of $55.18.

Urban Outfitters Stock Performance

Shares of Urban Outfitters stock traded up $0.22 during midday trading on Thursday, reaching $50.46. 414,850 shares of the company's stock traded hands, compared to its average volume of 1,866,888. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 1.02 and a beta of 1.37. Urban Outfitters, Inc. has a 52 week low of $33.86 and a 52 week high of $61.16. The company's 50 day simple moving average is $51.48 and its 200 day simple moving average is $49.10.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.15. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. As a group, equities research analysts predict that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Insider Buying and Selling

In other Urban Outfitters news, CEO Tricia D. Smith sold 10,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $53.94, for a total transaction of $539,400.00. Following the completion of the sale, the chief executive officer now directly owns 12,601 shares in the company, valued at $679,697.94. This represents a 44.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Azeez Hayne sold 11,676 shares of Urban Outfitters stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $54.75, for a total value of $639,261.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,976 shares of company stock worth $1,663,713. 31.80% of the stock is currently owned by 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.