Stock traders buy high volume of put options on Urban Outfitters (NASDAQ:URBN)

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Urban Outfitters, Inc. (NASDAQ: URBNGet a rating) saw unusual options trading on Tuesday. Investors bought 6,514 put options on the company. This represents an increase of approximately 203% from the average daily volume of 2,151 puts.

Urban Outfitters down 0.8%

NASDAQ: URBN opened at $21.84 on Wednesday. Urban Outfitters has a 12-month low of $17.81 and a 12-month high of $41.03. The stock has a 50-day moving average price of $20.63 and a 200-day moving average price of $23.28. The stock has a market capitalization of $2.02 billion, a P/E ratio of 7.51, a P/E/G ratio of 0.58 and a beta of 1.41.

Urban Outfitters (NASDAQ: URBNGet a rating) last released its quarterly results on Tuesday, May 24. The clothing retailer reported earnings per share of $0.33 for the quarter, missing the consensus estimate of $0.42 per ($0.09). The company posted revenue of $1.05 billion for the quarter, versus $1.07 billion for analysts. Urban Outfitters achieved a net margin of 6.18% and a return on equity of 16.83%. The company’s quarterly revenue increased by 13.2% compared to the same quarter last year. In the same quarter of the previous year, the company had an EPS of $0.54. On average, research analysts predict Urban Outfitters will post earnings per share of 2.15 for the current fiscal year.

Hedge funds weigh in on Urban Outfitters

Institutional investors and hedge funds have recently changed their stock holdings. US Bancorp DE increased its stake in Urban Outfitters shares by 323.2% during the second quarter. US Bancorp DE now owns 1,477 shares of the clothing retailer worth $27,000 after acquiring 1,128 more shares in the last quarter. Captrust Financial Advisors increased its position in Urban Outfitters by 148.5% during the second quarter. Captrust Financial Advisors now owns 1,533 shares of the clothing retailer worth $29,000 after buying 916 additional shares last quarter. Steward Partners Investment Advisory LLC increased its position in Urban Outfitters by 1,544.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,644 shares of the clothing retailer valued at $48,000 after buying an additional 1,544 shares last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Urban Outfitters during Q2 for $101,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Urban Outfitters during the 4th quarter at a value of $171,000. Hedge funds and other institutional investors hold 69.35% of the company’s shares.

Wall Street analysts predict growth

Several equity research analysts have weighed in on the company recently. TheStreet upgraded Urban Outfitters from a “b-” to a “c+” rating in a Friday, May 20 research note. Citigroup reduced its price target on Urban Outfitters from $42.00 to $30.00 in a Monday, May 23 research note. Barclays lowered its price target on Urban Outfitters from $29.00 to $21.00 and set an “equal weight” rating on the stock in a Thursday, May 26 research note. BMO Capital Markets reduced its price target on Urban Outfitters from $27.00 to $21.00 in a Wednesday, May 25 research note. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Urban Outfitters from $35.00 to $24.00 in a Wednesday, May 25 research note. Eleven equity research analysts gave the stock a hold rating and three gave the company a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.00.

About Urban Outfitters

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Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The Company operates through three segments: Retail, Wholesale and Nully. It operates Urban Outfitters stores, which offer women’s and men’s fashion apparel, sportswear, underwear, shoes, accessories, homewares, electronics and beauty products for women. young adults aged 18 to 28; and Anthropologie stores which offer women’s casual wear, accessories, underwear, footwear, and home furnishings, as well as gifts, home décor, and beauty and wellness products for women. women aged 28 to 45.

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