PNC Financial Services Group Inc. Has $184,000 Stock Holdings in Under Armour, Inc. (NYSE:UAA)

PNC Financial Services Group Inc. reduced its stake in Under Armour, Inc. (NYSE:UAA) by 17.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 20,986 shares of the company’s stock after selling 4,359 shares during the period. PNC Financial Services Group Inc.’s holdings in Under Armour were worth $184,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in UAA. GSA Capital Partners LLP boosted its position in Under Armour by 163.4% during the third quarter. GSA Capital Partners LLP now owns 129,325 shares of the company’s stock valued at $886,000 after acquiring an additional 80,218 shares during the last quarter. iA Global Asset Management Inc. bought a new stake in shares of Under Armour during the 3rd quarter valued at about $199,000. Neo Ivy Capital Management acquired a new stake in Under Armour during the third quarter worth approximately $211,000. Teachers Retirement System of The State of Kentucky increased its holdings in Under Armour by 88.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 66,240 shares of the company’s stock worth $454,000 after purchasing an additional 31,093 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Under Armour by 7.5% in the third quarter. Vanguard Group Inc. now owns 18,196,402 shares of the company’s stock valued at $124,645,000 after buying an additional 1,269,037 shares during the period. 34.58% of the stock is currently owned by institutional investors.

Under Armour Trading Down 0.6 %

Shares of Under Armour stock opened at $6.40 on Thursday. The company has a market capitalization of $2.79 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 3.38 and a beta of 1.67. The stock has a fifty day simple moving average of $6.81 and a 200 day simple moving average of $7.48. Under Armour, Inc. has a 12-month low of $6.18 and a 12-month high of $9.50. The company has a current ratio of 2.46, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28.

Under Armour (NYSE:UAA) last posted its quarterly earnings data on Thursday, May 16th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. Under Armour had a net margin of 4.19% and a return on equity of 11.95%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. On average, sell-side analysts anticipate that Under Armour, Inc. will post 0.2 earnings per share for the current fiscal year.

Under Armour announced that its board has approved a stock buyback plan on Thursday, May 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 16.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on UAA. William Blair downgraded shares of Under Armour from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 16th. Williams Trading restated a “hold” rating and issued a $8.00 price target on shares of Under Armour in a report on Thursday, March 14th. BMO Capital Markets dropped their price objective on shares of Under Armour from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, May 17th. Oppenheimer downgraded Under Armour from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. lowered Under Armour from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $8.00 to $6.00 in a research report on Thursday, May 16th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Under Armour has an average rating of “Hold” and a consensus price target of $7.32.

About Under Armour

Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes performance apparel, footwear, and accessories for men, women, and youth. The company provides its apparel in compression, fitted, and loose fit types. It also offers footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications.