Kornitzer Capital Management Inc. KS trimmed its stake in shares of Under Armour Inc (NYSE:UA) by 5.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,000 shares of the company’s stock after selling 6,490 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Under Armour were worth $2,121,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of UA. Wells Fargo & Company MN grew its holdings in Under Armour by 699.3% during the second quarter. Wells Fargo & Company MN now owns 3,068,536 shares of the company’s stock worth $68,123,000 after acquiring an additional 2,684,657 shares during the period. Nuveen Asset Management LLC grew its holdings in Under Armour by 4,061.3% during the second quarter. Nuveen Asset Management LLC now owns 933,960 shares of the company’s stock worth $20,734,000 after acquiring an additional 911,516 shares during the period. CQS Cayman LP grew its holdings in Under Armour by 148.1% during the second quarter. CQS Cayman LP now owns 1,403,271 shares of the company’s stock worth $31,152,000 after acquiring an additional 837,740 shares during the period. Echo Street Capital Management LLC acquired a new stake in Under Armour during the second quarter worth about $17,149,000. Finally, Vanguard Group Inc. grew its holdings in Under Armour by 3.4% during the second quarter. Vanguard Group Inc. now owns 20,520,471 shares of the company’s stock worth $455,554,000 after acquiring an additional 666,112 shares during the period. 33.21% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Kevin Eskridge sold 56,500 shares of Under Armour stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $17.69, for a total transaction of $999,485.00. Following the transaction, the insider now owns 196,374 shares in the company, valued at $3,473,856.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 15.90% of the company’s stock.
Several research firms recently commented on UA. Stifel Nicolaus set a $30.00 target price on Under Armour and gave the stock a “buy” rating in a report on Friday, July 19th. Needham & Company LLC reissued a “hold” rating on shares of Under Armour in a report on Thursday, October 10th. Pivotal Research reissued a “hold” rating and issued a $25.00 price objective on shares of Under Armour in a report on Wednesday, July 24th. ValuEngine raised Under Armour from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI reissued a “buy” rating and issued a $33.00 price objective on shares of Under Armour in a report on Sunday, August 11th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Under Armour has an average rating of “Hold” and an average target price of $22.27.
Shares of NYSE UA traded down $0.20 during midday trading on Friday, hitting $15.88. The stock had a trading volume of 2,602,959 shares, compared to its average volume of 2,249,103. The company has a market capitalization of $7.36 billion, a PE ratio of 58.81 and a beta of 1.05. The stock has a 50 day simple moving average of $18.01 and a 200-day simple moving average of $19.90. Under Armour Inc has a 1 year low of $15.05 and a 1 year high of $24.55. The company has a quick ratio of 1.11, a current ratio of 2.05 and a debt-to-equity ratio of 0.55.
Under Armour (NYSE:UA) last released its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.05). The firm had revenue of $1.43 billion during the quarter. Under Armour had a net margin of 2.14% and a return on equity of 7.24%. As a group, analysts expect that Under Armour Inc will post 0.35 earnings per share for the current fiscal year.
About Under Armour
Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot and cold.
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