Short Interest in Under Armour Inc (UA) Grows By 10.6%

Under Armour Inc (NYSE:UA) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 35,343,909 shares, an increase of 10.6% from the January 12th total of 31,949,436 shares. Based on an average daily trading volume, of 5,210,961 shares, the short-interest ratio is currently 6.8 days. Currently, 19.4% of the company’s shares are short sold.

Several brokerages recently issued reports on UA. Pivotal Research set a $14.00 price objective on shares of Under Armour and gave the company a “hold” rating in a report on Monday. Vetr upgraded shares of Under Armour from a “buy” rating to a “strong-buy” rating and set a $14.80 price objective on the stock in a report on Monday, January 29th. Susquehanna Bancshares restated a “sell” rating and issued a $11.00 price objective on shares of Under Armour in a report on Tuesday, January 9th. Deutsche Bank set a $12.00 price objective on shares of Under Armour and gave the company a “sell” rating in a report on Thursday, December 14th. Finally, Stifel Nicolaus upgraded shares of Under Armour from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Friday, December 15th. Nine investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $15.84.

A number of large investors have recently modified their holdings of the business. Bares Capital Management Inc. increased its stake in Under Armour by 5.9% during the third quarter. Bares Capital Management Inc. now owns 8,091,563 shares of the company’s stock worth $121,535,000 after purchasing an additional 447,650 shares during the period. FMR LLC increased its stake in Under Armour by 12.1% during the second quarter. FMR LLC now owns 2,961,380 shares of the company’s stock worth $59,702,000 after purchasing an additional 320,600 shares during the period. Baillie Gifford & Co. increased its stake in Under Armour by 0.4% during the third quarter. Baillie Gifford & Co. now owns 2,766,112 shares of the company’s stock worth $41,547,000 after purchasing an additional 12,110 shares during the period. Bank of New York Mellon Corp increased its stake in Under Armour by 21.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,665,961 shares of the company’s stock worth $22,191,000 after purchasing an additional 294,024 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in Under Armour by 66.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 1,500,000 shares of the company’s stock worth $22,530,000 after purchasing an additional 600,000 shares during the period. Institutional investors own 31.15% of the company’s stock.

Shares of Under Armour (NYSE UA) opened at $13.18 on Tuesday. The stock has a market cap of $6,110.00 and a PE ratio of 41.19. Under Armour has a one year low of $10.36 and a one year high of $21.81.

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About Under Armour

Under Armour, Inc is engaged in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. The Company’s segments include North America, consisting of the United States and Canada; Europe, the Middle East and Africa (EMEA); Asia-Pacific; Latin America, and Connected Fitness.

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