Bank of America Corp DE Trims Position in Under Armour, Inc. (NYSE:UAA)

Bank of America Corp DE cut its holdings in shares of Under Armour, Inc. (NYSE:UAA - Free Report) by 63.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,008,896 shares of the company's stock after selling 1,720,414 shares during the period. Bank of America Corp DE owned about 0.23% of Under Armour worth $8,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. increased its holdings in Under Armour by 55.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 9,789,553 shares of the company's stock valued at $81,057,000 after buying an additional 3,503,006 shares in the last quarter. Aristeia Capital L.L.C. acquired a new position in shares of Under Armour during the 4th quarter worth about $673,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Under Armour during the 4th quarter worth about $124,000. Perbak Capital Partners LLP acquired a new position in shares of Under Armour during the 4th quarter worth about $141,000. Finally, Northern Trust Corp raised its position in shares of Under Armour by 18.9% during the 4th quarter. Northern Trust Corp now owns 1,729,796 shares of the company's stock worth $14,323,000 after purchasing an additional 275,131 shares during the last quarter. 34.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UAA. Barclays dropped their price objective on shares of Under Armour from $8.00 to $6.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Citigroup dropped their price target on shares of Under Armour from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. UBS Group upped their target price on shares of Under Armour from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Under Armour in a research report on Wednesday, May 14th. Finally, Wall Street Zen cut shares of Under Armour from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Under Armour has a consensus rating of "Hold" and an average price target of $7.33.

Under Armour Price Performance

UAA traded down $0.04 on Friday, hitting $6.69. 1,248,207 shares of the company were exchanged, compared to its average volume of 12,652,147. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.19 and a current ratio of 2.01. The business's fifty day moving average is $6.00 and its 200 day moving average is $7.46. Under Armour, Inc. has a fifty-two week low of $4.78 and a fifty-two week high of $11.89. The firm has a market capitalization of $2.87 billion, a P/E ratio of -23.05 and a beta of 1.54.

Under Armour (NYSE:UAA - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. Under Armour had a negative net margin of 2.39% and a positive return on equity of 11.03%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business posted $0.11 earnings per share. The firm's revenue for the quarter was down 11.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Under Armour, Inc. will post 0.3 EPS for the current year.

About Under Armour

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.