Truist Financial Corp reduced its stake in Under Armour, Inc. (NYSE:UAA – Get Rating) by 40.5% during the first quarter, Holdings Channel.com reports. The fund owned 58,114 shares of the company’s stock after selling 39,575 shares during the period. Truist Financial Corp’s holdings in Under Armour were worth $989,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Under Armour by 1.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,764 shares of the company’s stock worth $1,068,000 after acquiring an additional 1,136 shares during the period. Virginia Retirement Systems ET AL lifted its stake in shares of Under Armour by 13.9% in the first quarter. Virginia Retirement Systems ET AL now owns 35,200 shares of the company’s stock worth $599,000 after acquiring an additional 4,300 shares during the period. CWM LLC lifted its stake in shares of Under Armour by 172.6% in the first quarter. CWM LLC now owns 4,446 shares of the company’s stock worth $76,000 after acquiring an additional 2,815 shares during the period. Richelieu Gestion PLC acquired a new position in shares of Under Armour in the first quarter worth approximately $2,190,000. Finally, Xponance Inc. lifted its stake in shares of Under Armour by 6.1% in the first quarter. Xponance Inc. now owns 12,338 shares of the company’s stock worth $210,000 after acquiring an additional 713 shares during the period. 38.72% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Under Armour from $35.00 to $21.00 in a research note on Monday, May 9th. Morgan Stanley lowered Under Armour from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $14.00 to $11.00 in a research note on Thursday, May 19th. Williams Capital lowered Under Armour from a “buy” rating to a “hold” rating in a research note on Thursday, May 19th. Argus dropped their price target on Under Armour from $19.00 to $15.00 in a research note on Wednesday, May 11th. Finally, UBS Group dropped their price target on Under Armour from $18.00 to $12.00 in a research note on Friday, July 15th. Seventeen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $18.08.
Under Armour Trading Down 2.2 %
Shares of Under Armour stock opened at $8.76 on Friday. The stock has a fifty day simple moving average of $9.47 and a 200 day simple moving average of $14.23. Under Armour, Inc. has a 12-month low of $8.10 and a 12-month high of $27.28. The company has a market capitalization of $4.17 billion, a P/E ratio of 18.64 and a beta of 1.34. The company has a current ratio of 2.30, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32.
Under Armour (NYSE:UAA – Get Rating) last announced its quarterly earnings results on Friday, May 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05). The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.34 billion. Under Armour had a return on equity of 16.20% and a net margin of 3.89%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 EPS. On average, sell-side analysts anticipate that Under Armour, Inc. will post 0.66 earnings per share for the current fiscal year.
Insider Buying and Selling at Under Armour
In other Under Armour news, Director David W. Gibbs acquired 25,000 shares of Under Armour stock in a transaction on Tuesday, May 31st. The stock was purchased at an average price of $9.60 per share, for a total transaction of $240,000.00. Following the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at $480,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 16.40% of the company’s stock.
Under Armour Company Profile
Under Armour, Inc, together with its subsidiaries, engages in the developing, marketing, and distributing performance apparel, footwear, and accessories for men, women, and youth. The company offers its apparel in compression, fitted, and loose fit types. It also provides footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications.
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Source: defenseworld.net
