Cornercap Investment Counsel Inc. Has $249,000 Stock Position in Urban Outfitters, Inc. (NASDAQ:URBN)

Cornercap Investment Counsel Inc. cut its holdings in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 53.5% during the third quarter, HoldingsChannel.com reports. The firm owned 6,508 shares of the apparel retailer’s stock after selling 7,493 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Urban Outfitters were worth $249,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. UniSuper Management Pty Ltd acquired a new position in Urban Outfitters in the first quarter valued at approximately $537,000. Harbor Capital Advisors Inc. boosted its position in shares of Urban Outfitters by 287.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 46,300 shares of the apparel retailer’s stock worth $1,901,000 after purchasing an additional 34,350 shares during the last quarter. Wesbanco Bank Inc. acquired 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 purchasing an additional 531 shares during the period. Finally, Aigen Investment Management LP bought a new stake in Urban Outfitters in the third quarter valued at about $2,143,000. Institutional investors own 77.61% of the company’s stock.

Insider Transactions at Urban Outfitters

In other news, CEO Tricia D. Smith sold 11,730 shares of the 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 link. Company insiders own 31.80% of the company’s stock.

Urban Outfitters Trading Up 0.5 %

URBN stock opened at $38.40 on Tuesday. The stock has a 50-day moving average price of $36.89 and a two-hundred day moving average price of $40.15. Urban Outfitters, Inc. has a 1 year low of $31.37 and a 1 year high of $48.90. The stock has a market cap of $3.54 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 0.92 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings data on Wednesday, August 21st. The apparel retailer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.24. Urban Outfitters had a return on equity of 15.49% and a net margin of 5.83%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the company earned $1.10 earnings per share. Urban Outfitters’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts forecast that Urban Outfitters, Inc. will post 3.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on URBN. Telsey Advisory Group lowered Urban Outfitters from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $49.00 to $44.00 in a research report on Thursday, August 22nd. Barclays decreased their price objective on shares of Urban Outfitters from $52.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, August 22nd. Morgan Stanley cut their target price on shares of Urban Outfitters from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. StockNews.com lowered shares of Urban Outfitters from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Finally, Bank of America lowered their price objective on shares of Urban Outfitters from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.30.

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.