Is Urban Outfitters, Inc. (NASDAQ:URBN) a buy?
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Just as key, bullish insider trading activity is another way to analyze the stock market universe. Just as you’d expect, there are a number of incentives for a bullish insider to cut shares of his or her company, but just one, very obvious reason why they would buy. Many academic studies have demonstrated the impressive potential of this method if investors understand what to do (learn more here).
Thus, we’re going to analyze the newest info about Urban Outfitters, Inc. (NASDAQ:URBN).
How have hedgies been trading Urban Outfitters, Inc. (NASDAQ:URBN)?
In preparation for the third quarter, a total of 34 of the hedge funds we track were long in this stock, a change of 31% from the first quarter. With hedge funds’ sentiment swirling, there exists a select group of key hedge fund managers who were boosting their holdings significantly.
With a general bullishness amongst the titans, certain money managers have been driving this bullishness. Adage Capital Management, managed by Phill Gross and Robert Atchinson, established the biggest position in Urban Outfitters, Inc. (NASDAQ:URBN). Adage Capital Management had 96.6 million invested in the company at the end of the quarter. Patrick McCormack’s Tiger Consumer Management also initiated a $94.3 million position during the quarter. The other funds with new positions in the stock are Donald Chiboucis’s Columbus Circle Investors, Jim Simons’s Renaissance Technologies, and Steven Cohen’s SAC Capital Advisors.
How have insiders been trading Urban Outfitters, Inc. (NASDAQ:URBN)?
Insider buying made by high-level executives is particularly usable when the company in focus has seen transactions within the past 180 days. Over the latest half-year time frame, Urban Outfitters, Inc. (NASDAQ:URBN) has experienced zero unique insiders buying, and 5 insider sales (see the details of insider trades here).
We’ll go over the relationship between both of these indicators in other stocks similar to Urban Outfitters, Inc. (NASDAQ:URBN). These stocks are Ascena Retail Group Inc (NASDAQ:ASNA), Nordstrom, Inc. (NYSE:JWN), American Eagle Outfitters (NYSE:AEO), Abercrombie & Fitch Co. (NYSE:ANF), and Foot Locker, Inc. (NYSE:FL). This group of stocks belong to the apparel stores industry and their market caps are similar to URBN’s market cap.
