ABC Arbitrage SA Purchases New Position in Under Armour, Inc. (NYSE:UAA)

Key Points

• ABC Arbitrage SA has acquired a new position in Under Armour, purchasing 517,271 shares worth approximately $3.2 million, representing 0.12% ownership of the company.
• Under Armour's stock is currently valued at $6.74, reflecting a 2.6% increase, with a market capitalization of $2.90 billion.
• For the last quarter, Under Armour reported an EPS of ($0.08), exceeding analysts' expectations, and a revenue of $1.18 billion, although revenue was down 11.4% year-over-year.

ABC Arbitrage SA bought a new position in shares of Under Armour, Inc. (NYSE:UAA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 517,271 shares of the company's stock, valued at approximately $3,233,000. ABC Arbitrage SA owned about 0.12% of Under Armour as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of UAA. Mariner LLC raised its position in shares of Under Armour by 10.0% during the 4th quarter. Mariner LLC now owns 17,006 shares of the company's stock worth $141,000 after purchasing an additional 1,552 shares during the period. Principal Financial Group Inc. lifted its stake in Under Armour by 0.4% in the first quarter. Principal Financial Group Inc. now owns 435,307 shares of the company's stock valued at $2,721,000 after buying an additional 1,888 shares during the last quarter. Beacon Pointe Advisors LLC boosted its holdings in shares of Under Armour by 10.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 21,470 shares of the company's stock valued at $178,000 after acquiring an additional 2,080 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Under Armour by 12.0% during the first quarter. PNC Financial Services Group Inc. now owns 26,694 shares of the company's stock worth $167,000 after acquiring an additional 2,868 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in shares of Under Armour by 4.6% during the first quarter. Yousif Capital Management LLC now owns 68,911 shares of the company's stock worth $431,000 after acquiring an additional 3,024 shares during the last quarter. Institutional investors and hedge funds own 34.58% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on UAA shares. Wells Fargo & Company boosted their price target on Under Armour from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. The Goldman Sachs Group started coverage on shares of Under Armour in a research note on Wednesday, July 2nd. They issued a "neutral" rating and a $7.00 price target for the company. Telsey Advisory Group reiterated a "market perform" rating and set a $7.00 price objective on shares of Under Armour in a research note on Monday. Robert W. Baird upped their target price on Under Armour from $6.00 to $7.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Finally, BMO Capital Markets lowered their price target on Under Armour from $12.00 to $9.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $7.31.

Insider Buying and Selling

In other news, insider Mehri Shadman sold 16,287 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $6.14, for a total value of $100,002.18. Following the completion of the transaction, the insider directly owned 191,796 shares of the company's stock, valued at approximately $1,177,627.44. This represents a 7.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 15.60% of the stock is currently owned by corporate insiders.

Under Armour Stock Performance

UAA traded down $0.13 on Thursday, hitting $6.61. 12,466,073 shares of the stock traded hands, compared to its average volume of 9,411,079. The firm has a market capitalization of $2.84 billion, a PE ratio of -14.05, a P/E/G ratio of 0.94 and a beta of 1.61. The company has a current ratio of 2.10, a quick ratio of 1.25 and a debt-to-equity ratio of 0.31. Under Armour, Inc. has a 52 week low of $4.78 and a 52 week high of $11.89. The business has a fifty day moving average price of $6.83 and a two-hundred day moving average price of $6.71.

Under Armour (NYSE:UAA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. Under Armour had a negative net margin of 3.90% and a positive return on equity of 7.04%. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the prior year, the company posted $0.11 EPS. The business's revenue was down 11.4% on a year-over-year basis. On average, research analysts predict that Under Armour, Inc. will post 0.3 EPS for the current fiscal year.

Under Armour Company 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.