Under Armour, Inc. (NYSE:UAA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in Under Armour, Inc. (NYSE:UAA) by 6.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,513,341 shares of the company’s stock after selling 111,751 shares during the period. Bank of New York Mellon Corp owned approximately 0.35% of Under Armour worth $10,094,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of UAA. Hexagon Capital Partners LLC increased its holdings in shares of Under Armour by 101.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,760 shares of the company’s stock worth $28,000 after acquiring an additional 1,890 shares during the period. Optas LLC acquired a new stake in shares of Under Armour in the 2nd quarter worth about $72,000. M&T Bank Corp bought a new position in Under Armour in the 4th quarter valued at about $91,000. KG&L Capital Management LLC bought a new position in Under Armour in the 1st quarter valued at about $98,000. Finally, Innealta Capital LLC bought a new position in Under Armour in the 4th quarter valued at about $100,000. Institutional investors and hedge funds own 34.58% of the company’s stock.

Under Armour Stock Performance

Shares of UAA opened at $7.46 on Tuesday. Under Armour, Inc. has a one year low of $6.17 and a one year high of $9.50. The company has a 50-day moving average of $7.30 and a two-hundred day moving average of $7.20. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 3.57 and a beta of 1.65. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.73 and a quick ratio of 1.08.

Under Armour (NYSE:UAA) last announced its earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. Under Armour had a negative net margin of 1.35% and a positive return on equity of 11.98%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the company posted $0.02 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, equities research analysts expect that Under Armour, Inc. will post 0.22 earnings per share for the current year.

Under Armour announced that its board has initiated a share repurchase program on Thursday, May 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 16.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently issued reports on UAA. Wedbush increased their target price on shares of Under Armour from $8.00 to $8.50 and gave the company an “outperform” rating in a research report on Friday, August 9th. William Blair lowered shares of Under Armour from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 16th. Bank of America decreased their target price on shares of Under Armour from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, May 17th. Truist Financial increased their target price on shares of Under Armour from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Argus upgraded shares of Under Armour to a “strong-buy” rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Under Armour has an average rating of “Hold” and a consensus price target of $7.50.

Under Armour Company Profile

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.