Connor Clark & Lunn Investment Management Ltd. Invests $361,000 in Urban Outfitters, Inc. (NASDAQ:URBN)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Urban Outfitters, Inc. (NASDAQ:URBN) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,430 shares of the apparel retailer’s stock, valued at approximately $361,000.

Other hedge funds have also bought and sold shares of the company. Marshall Wace LLP raised its holdings in Urban Outfitters by 116.3% in the 2nd quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer’s stock valued at $93,956,000 after acquiring an additional 1,230,771 shares in the last quarter. American Century Companies Inc. raised its stake in Urban Outfitters by 20.5% in the second quarter. American Century Companies Inc. now owns 1,555,067 shares of the apparel retailer’s stock valued at $63,836,000 after purchasing an additional 264,708 shares in the last quarter. Systematic Financial Management LP lifted its position in Urban Outfitters by 0.4% during the second quarter. Systematic Financial Management LP now owns 684,133 shares of the apparel retailer’s stock worth $28,084,000 after purchasing an additional 2,674 shares during the period. Panagora Asset Management Inc. grew its stake in 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 in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Urban Outfitters by 54.2% during the second quarter. Acadian Asset Management LLC now owns 347,396 shares of the apparel retailer’s stock worth $14,253,000 after buying an additional 122,171 shares in the last quarter. 77.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on URBN shares. StockNews.com raised shares of Urban Outfitters from a “hold” rating to a “buy” rating in a report on Thursday. Robert W. Baird upped their target price on Urban Outfitters from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday. BMO Capital Markets reduced their target price on Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating on the stock in a report on Thursday, August 22nd. Bank of America boosted their price target on Urban Outfitters from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price objective on Urban Outfitters from $40.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Urban Outfitters has a consensus rating of “Hold” and a consensus price target of $46.27.

Urban Outfitters Stock Up 2.6 %

Shares of URBN stock opened at $48.73 on Friday. Urban Outfitters, Inc. has a twelve month low of $33.86 and a twelve month high of $49.48. The stock’s fifty day simple moving average is $37.88 and its 200 day simple moving average is $40.21. The firm has a market capitalization of $4.50 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.08 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.28. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 earnings per share. As a group, equities research analysts expect that Urban Outfitters, Inc. will post 3.79 EPS for the current fiscal year.

Insider Transactions at Urban Outfitters

In related news, CEO Tricia D. Smith sold 11,730 shares of Urban Outfitters stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $35.29, for a total value of $413,951.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 31.80% of the stock is owned by company insiders.

About Urban Outfitters

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.