Rhumbline Advisers Sells 11,234 Shares of Under Armour, Inc. (NYSE:UA)

Rhumbline Advisers cut its stake in shares of Under Armour, Inc. (NYSE:UA) by 2.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 514,505 shares of the company’s stock after selling 11,234 shares during the period. Rhumbline Advisers’ holdings in Under Armour were worth $3,360,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of UA. Truist Financial Corp increased its position in shares of Under Armour by 9.3% during the fourth quarter. Truist Financial Corp now owns 19,432 shares of the company’s stock valued at $162,000 after buying an additional 1,646 shares during the period. Private Advisor Group LLC grew its holdings in shares of Under Armour by 10.3% during the fourth quarter. Private Advisor Group LLC now owns 17,591 shares of the company’s stock worth $147,000 after purchasing an additional 1,646 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Under Armour by 28.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,206,551 shares of the company’s stock worth $76,877,000 after purchasing an additional 2,065,273 shares in the last quarter. Norges Bank purchased a new position in shares of Under Armour during the fourth quarter worth about $19,686,000. Finally, Corient Private Wealth LLC grew its holdings in shares of Under Armour by 1.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,009,388 shares of the company’s stock worth $8,428,000 after purchasing an additional 15,755 shares in the last quarter. 36.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus cut their price objective on Under Armour from $10.00 to $9.00 and set a “buy” rating for the company in a report on Monday, June 24th.

Under Armour Price Performance

Shares of Under Armour stock opened at $7.37 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. The company has a market cap of $3.22 billion, a PE ratio of 13.85 and a beta of 1.64. The business has a 50 day moving average of $7.14 and a 200 day moving average of $6.92. Under Armour, Inc. has a 52 week low of $5.86 and a 52 week high of $8.99.

Under Armour (NYSE:UA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.10. Under Armour had a positive return on equity of 11.98% and a negative net margin of 1.35%. The firm had revenue of $1.18 billion during the quarter. As a group, equities research analysts forecast that Under Armour, Inc. will post 0.2 earnings per share for the current year.

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.