M&T Bank Corp Buys New Shares in Under Armour, Inc. (NYSE:UAA)

M&T Bank Corp purchased a new position in shares of Under Armour, Inc. (NYSE:UAA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,636 shares of the company’s stock, valued at approximately $104,000.

Several other large investors have also added to or reduced their stakes in the company. CWM LLC lifted its position in Under Armour by 20.7% during the third quarter. CWM LLC now owns 8,211 shares of the company’s stock valued at $73,000 after purchasing an additional 1,409 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Under Armour by 11.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,860 shares of the company’s stock worth $123,000 after buying an additional 1,409 shares during the last quarter. State of Alaska Department of Revenue raised its position in Under Armour by 7.0% during the third quarter. State of Alaska Department of Revenue now owns 22,835 shares of the company’s stock valued at $203,000 after acquiring an additional 1,485 shares in the last quarter. Sei Investments Co. raised its position in Under Armour by 10.2% during the second quarter. Sei Investments Co. now owns 18,989 shares of the company’s stock valued at $127,000 after acquiring an additional 1,764 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in Under Armour by 163.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,900 shares of the company’s stock worth $26,000 after purchasing an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 34.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $4.00 target price on shares of Under Armour in a research note on Friday, December 13th. BMO Capital Markets increased their target price on shares of Under Armour from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. UBS Group lifted their price target on Under Armour from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Robert W. Baird increased their price target on Under Armour from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Under Armour in a research report on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.28.

Insider Activity at Under Armour

In other news, insider Mehri Shadman sold 9,639 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $8.81, for a total value of $84,919.59. Following the transaction, the insider now directly owns 172,899 shares in the company, valued at approximately $1,523,240.19. This represents a 5.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Bergman sold 30,000 shares of Under Armour stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $9.09, for a total transaction of $272,700.00. Following the completion of the sale, the chief financial officer now owns 494,210 shares of the company’s stock, valued at $4,492,368.90. This trade represents a 5.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,879 shares of company stock worth $508,642. Insiders own 15.60% of the company’s stock.

Under Armour Price Performance

Shares of UAA stock opened at $8.62 on Friday. The firm’s 50-day moving average is $9.35 and its two-hundred day moving average is $8.10. Under Armour, Inc. has a 12 month low of $6.17 and a 12 month high of $11.89. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.18 and a quick ratio of 1.24. The company has a market capitalization of $3.73 billion, a PE ratio of -287.24 and a beta of 1.69.

Under Armour Profile

Under Armour, Inc, together with its subsidiaries, engages developing, marketing, and distributing 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.