Ascendant Capital Management LLC Makes New Investment in Urban Outfitters, Inc. (NASDAQ:URBN)

Ascendant Capital Management LLC acquired a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 47,500 shares of the apparel retailer’s stock, valued at approximately $1,958,000. Urban Outfitters makes up approximately 1.4% of Ascendant Capital Management LLC’s holdings, making the stock its 25th biggest position.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Urban Outfitters by 7.0% during the second quarter. Vanguard Group Inc. now owns 6,097,784 shares of the apparel retailer’s stock worth $251,351,000 after buying an additional 396,575 shares in the last quarter. Ergoteles LLC bought a new position in shares of Urban Outfitters during the second quarter worth about $2,743,000. UBS Group AG grew its holdings in shares of Urban Outfitters by 3,240.7% during the first quarter. UBS Group AG now owns 41,993 shares of the apparel retailer’s stock worth $1,562,000 after buying an additional 40,736 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Urban Outfitters by 205.6% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,393 shares of the apparel retailer’s stock worth $99,000 after buying an additional 1,610 shares in the last quarter. Finally, Bridgefront Capital LLC bought a new position in shares of Urban Outfitters during the second quarter worth about $381,000. Institutional investors and hedge funds own 68.71% of the company’s stock.

Urban Outfitters stock traded down $0.37 during midday trading on Wednesday, reaching $30.83. The stock had a trading volume of 29,105 shares, compared to its average volume of 1,792,747. Urban Outfitters, Inc. has a 12 month low of $21.98 and a 12 month high of $42.10. The company has a market capitalization of $3.03 billion, a P/E ratio of 10.80, a PEG ratio of 0.52 and a beta of 1.57. The company has a fifty day moving average price of $33.15 and a two-hundred day moving average price of $36.16.

Urban Outfitters (NASDAQ:URBN) last released its earnings results on Monday, August 23rd. The apparel retailer reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.51. Urban Outfitters had a return on equity of 18.77% and a net margin of 6.91%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company posted $0.35 earnings per share. Urban Outfitters’s quarterly revenue was up 44.4% on a year-over-year basis. On average, equities analysts expect that Urban Outfitters, Inc. will post 3.32 EPS for the current year.

URBN has been the subject of a number of research reports. MKM Partners increased their price objective on Urban Outfitters from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, August 25th. Citigroup raised Urban Outfitters from a “neutral” rating to a “buy” rating and reduced their price target for the company from $44.00 to $40.00 in a research report on Friday, October 22nd. JPMorgan Chase & Co. increased their price target on Urban Outfitters from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, August 16th. Wells Fargo & Company reduced their price target on Urban Outfitters from $40.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday, October 15th. Finally, Morgan Stanley raised their price objective on Urban Outfitters from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, August 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $38.42.

Urban Outfitters Profile

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.

Further Reading: Hold Rating

Institutional Ownership by Quarter for Urban Outfitters (NASDAQ:URBN)

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