Under Armour, Inc. (NYSE:UAA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in shares of Under Armour, Inc. (NYSE:UAA) by 11.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 629,002 shares of the company’s stock after selling 81,934 shares during the period. Principal Financial Group Inc. owned about 0.14% of Under Armour worth $4,195,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised its position in Under Armour by 101.1% during the first 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 last quarter. Optas LLC acquired a new position in Under Armour during the second quarter worth about $72,000. M&T Bank Corp purchased a new stake in shares of Under Armour during the fourth quarter worth about $91,000. KG&L Capital Management LLC purchased a new stake in shares of Under Armour during the first quarter worth about $98,000. Finally, Innealta Capital LLC purchased a new stake in shares of Under Armour during the fourth quarter worth about $100,000. Institutional investors and hedge funds own 34.58% of the company’s stock.

Under Armour Price Performance

UAA opened at $6.81 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.73 and a debt-to-equity ratio of 0.33. Under Armour, Inc. has a 52-week low of $6.17 and a 52-week 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 company has a market cap of $2.94 billion, a P/E ratio of 12.61, a P/E/G ratio of 3.57 and a beta of 1.65.

Under Armour (NYSE:UAA) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.01 earnings per share (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 the consensus estimate of $1.14 billion. During the same period in the previous year, the firm earned $0.02 earnings per share. Under Armour’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, analysts expect that Under Armour, Inc. will post 0.22 earnings per share for the current year.

Under Armour declared that its board has approved a share repurchase program on Thursday, May 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 16.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on UAA. William Blair downgraded shares of Under Armour from an “outperform” rating to a “market perform” rating in a report on Thursday, May 16th. Telsey Advisory Group reiterated a “market perform” rating and set a $7.00 price target on shares of Under Armour in a report on Monday, August 5th. Wells Fargo & Company lowered their price target on shares of Under Armour from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, May 17th. Argus upgraded shares of Under Armour to a “strong-buy” rating in a report on Thursday, August 15th. Finally, Stifel Nicolaus lifted their price target on shares of Under Armour from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Under Armour currently 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.