Investors Purchase Large Volume of Put Options on Urban Outfitters (NASDAQ:URBN)

Urban Outfitters, Inc. (NASDAQ:URBN – Get Rating) saw unusually large options trading activity on Tuesday. Traders acquired 2,414 put options on the company. This represents an increase of 92% compared to the average daily volume of 1,258 put options.

Urban Outfitters Trading Down 1.4 %

Shares of URBN opened at $26.66 on Wednesday. The company’s 50-day moving average price is $26.94 and its 200 day moving average price is $26.79. Urban Outfitters has a 12-month low of $17.81 and a 12-month high of $29.74. The firm has a market cap of $2.47 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 0.61 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN – Get Rating) last announced its quarterly earnings results on Tuesday, May 23rd. The apparel retailer reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.20. Urban Outfitters had a net margin of 3.33% and a return on equity of 9.46%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business earned $0.33 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts forecast that Urban Outfitters will post 2.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

URBN has been the topic of several research reports. StockNews.com initiated coverage on shares of Urban Outfitters in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. UBS Group cut Urban Outfitters from a “neutral” rating to a “sell” rating in a report on Wednesday, March 29th. Morgan Stanley increased their price target on Urban Outfitters from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Wednesday, February 15th. Barclays lowered their price objective on Urban Outfitters from $29.00 to $27.00 in a research note on Tuesday, May 2nd. Finally, Telsey Advisory Group raised their target price on Urban Outfitters from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.08.

Insiders Place Their Bets

In other news, insider Azeez Hayne sold 9,073 shares of Urban Outfitters stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $26.96, for a total value of $244,608.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Urban Outfitters news, insider Azeez Hayne sold 9,073 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $26.96, for a total transaction of $244,608.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Frank Conforti sold 42,000 shares of Urban Outfitters stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $27.28, for a total value of $1,145,760.00. Following the completion of the sale, the chief operating officer now directly owns 2,361 shares in the company, valued at $64,408.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,189 shares of company stock worth $1,813,413. Company insiders own 31.90% of the company’s stock.

Institutional Trading of Urban Outfitters

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Urban Outfitters by 12.0% in the first quarter. JPMorgan Chase & Co. now owns 364,106 shares of the apparel retailer’s stock valued at $10,093,000 after buying an additional 39,029 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Urban Outfitters in the 1st quarter valued at about $228,000. State Street Corp increased its stake in Urban Outfitters by 2.4% during the first quarter. State Street Corp now owns 2,920,947 shares of the apparel retailer’s stock worth $80,969,000 after purchasing an additional 68,609 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Urban Outfitters during the first quarter worth about $1,088,000. Finally, Geode Capital Management LLC lifted its position in shares of Urban Outfitters by 3.1% during the first quarter. Geode Capital Management LLC now owns 1,245,380 shares of the apparel retailer’s stock worth $34,522,000 after purchasing an additional 37,365 shares in the last quarter. Hedge funds and other institutional investors own 77.30% of the company’s stock.

Urban Outfitters Company Profile

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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.