The Manufacturers Life Insurance Company Reduces Stock Position in Under Armour, Inc. (NYSE:UAA)

The Manufacturers Life Insurance Company trimmed its stake in Under Armour, Inc. (NYSE:UAA) by 1.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 152,861 shares of the company’s stock after selling 2,657 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Under Armour were worth $1,020,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jupiter Asset Management Ltd. purchased a new stake in shares of Under Armour in the 1st quarter worth about $8,944,000. Virtu Financial LLC purchased a new stake in shares of Under Armour in the 4th quarter worth about $440,000. Hexagon Capital Partners LLC lifted its position 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 purchasing an additional 1,890 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of Under Armour by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 164,760 shares of the company’s stock worth $1,216,000 after purchasing an additional 1,746 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in shares of Under Armour by 24.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 89,941 shares of the company’s stock worth $664,000 after purchasing an additional 17,399 shares during the period. 34.58% of the stock is owned by hedge funds and other institutional investors.

Under Armour Stock Down 0.6 %

NYSE:UAA opened at $8.31 on Friday. The firm has a market cap of $3.59 billion, a P/E ratio of -46.16, a P/E/G ratio of 4.07 and a beta of 1.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.08 and a current ratio of 1.73. Under Armour, Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $9.50. The firm has a 50-day simple moving average of $7.99 and a two-hundred day simple moving average of $7.22.

Under Armour (NYSE:UAA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. Under Armour had a negative net margin of 1.35% and a positive return on equity of 11.98%. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 EPS. Analysts predict that Under Armour, Inc. will post 0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on UAA shares. Stifel Nicolaus raised their target price on shares of Under Armour from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Barclays increased their price target on shares of Under Armour from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Wedbush increased their price target on shares of Under Armour from $8.00 to $8.50 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Morgan Stanley lowered shares of Under Armour from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $8.00 to $4.00 in a research note on Tuesday, July 23rd. Finally, Truist Financial increased their price target on shares of Under Armour from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Under Armour presently has a consensus rating of “Hold” and a consensus target price of $7.57.

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.