Urban Outfitters, Inc. (NASDAQ:URBN) Sees Significant Decline in Short Interest

Urban Outfitters, Inc. (NASDAQ:URBN) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 10,006,846 shares, a drop of 18.6% from the February 28th total of 12,286,322 shares. Based on an average trading volume of 3,897,774 shares, the short-interest ratio is currently 2.6 days. Currently, 14.8% of the company’s shares are sold short.

Shares of URBN traded up $0.30 during mid-day trading on Friday, reaching $30.93. 2,548,355 shares of the stock traded hands, compared to its average volume of 3,311,253. The firm has a market capitalization of $3.20 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.06 and a beta of 0.54. Urban Outfitters has a 1 year low of $27.60 and a 1 year high of $52.50.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. Urban Outfitters had a net margin of 7.54% and a return on equity of 21.03%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business earned $0.62 EPS. Research analysts forecast that Urban Outfitters will post 2.61 earnings per share for the current year.

A number of equities analysts have recently weighed in on URBN shares. Wells Fargo & Co cut their target price on Urban Outfitters from $35.00 to $30.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 6th. Zacks Investment Research reaffirmed a “buy” rating and issued a $36.00 price target on shares of Urban Outfitters in a report on Monday, December 31st. BidaskClub cut shares of Urban Outfitters from a “sell” rating to a “strong sell” rating in a report on Saturday, January 19th. Wolfe Research reaffirmed an “outperform” rating and issued a $42.00 price target (down previously from $49.00) on shares of Urban Outfitters in a report on Friday, January 11th. Finally, ValuEngine raised shares of Urban Outfitters from a “sell” rating to a “hold” rating in a report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. Urban Outfitters presently has an average rating of “Hold” and a consensus target price of $40.59.

In other Urban Outfitters news, General Counsel Azeez Hayne sold 10,300 shares of Urban Outfitters stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $33.63, for a total transaction of $346,389.00. Following the completion of the transaction, the general counsel now owns 12,523 shares in the company, valued at approximately $421,148.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Trish Donnelly sold 9,144 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $34.00, for a total value of $310,896.00. Following the completion of the transaction, the chief executive officer now owns 10,295 shares in the company, valued at approximately $350,030. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,200 shares of company stock valued at $3,237,851. Corporate insiders own 24.80% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its position in Urban Outfitters by 5.5% during the first quarter. Nisa Investment Advisors LLC now owns 26,800 shares of the apparel retailer’s stock valued at $794,000 after buying an additional 1,400 shares during the period. Retirement Systems of Alabama boosted its position in Urban Outfitters by 0.4% during the first quarter. Retirement Systems of Alabama now owns 98,085 shares of the apparel retailer’s stock valued at $2,907,000 after buying an additional 379 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in Urban Outfitters during the first quarter valued at about $356,000. Peregrine Capital Management LLC boosted its position in Urban Outfitters by 120,393.6% during the first quarter. Peregrine Capital Management LLC now owns 300,029 shares of the apparel retailer’s stock valued at $8,893,000 after buying an additional 299,780 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. purchased a new stake in Urban Outfitters during the first quarter valued at about $7,276,000. Institutional investors own 80.04% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Urban Outfitters, Inc. (NASDAQ:URBN) Sees Significant Decline in Short Interest” was reported by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this report on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this report can be accessed at https://www.baseballdailydigest.com/news/2019/04/21/urban-outfitters-inc-urbn-short-interest-down-18-6-in-march.html.

About Urban Outfitters

Urban Outfitters, Inc, a lifestyle products and services company, engages in the retail and wholesale of general consumer products. The company retails women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28 under the Urban Outfitters brand; and women's casual apparel and accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty products for women aged 28 to 45 under the Anthropologie brand.

Read More: LIBOR

Receive News & Ratings for Urban Outfitters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Urban Outfitters and related companies with MarketBeat.com's FREE daily email newsletter.