Bank of New York Mellon Corp Lowers Stake in Under Armour, Inc. (NYSE:UAA)

Bank of New York Mellon Corp lowered its stake in Under Armour, Inc. (NYSE:UAA - Free Report) by 5.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,357,361 shares of the company's stock after selling 74,126 shares during the period. Bank of New York Mellon Corp owned approximately 0.32% of Under Armour worth $8,484,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in UAA. Harbour Investments Inc. raised its stake in shares of Under Armour by 438.2% during the fourth quarter. Harbour Investments Inc. now owns 6,141 shares of the company's stock valued at $51,000 after acquiring an additional 5,000 shares during the last quarter. Vident Advisory LLC acquired a new position in shares of Under Armour during the fourth quarter valued at about $85,000. GAMMA Investing LLC grew its holdings in shares of Under Armour by 872.2% during the first quarter. GAMMA Investing LLC now owns 16,644 shares of the company's stock valued at $104,000 after buying an additional 14,932 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Under Armour during the fourth quarter valued at about $124,000. Finally, City State Bank lifted its position in shares of Under Armour by 99.4% during the first quarter. City State Bank now owns 20,063 shares of the company's stock valued at $125,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 34.58% of the company's stock.

Under Armour Trading Up 2.4%

NYSE UAA traded up $0.18 on Friday, hitting $7.35. 10,206,473 shares of the stock were exchanged, compared to its average volume of 9,638,737. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.25 and a current ratio of 2.10. The stock has a fifty day moving average price of $6.83 and a two-hundred day moving average price of $6.79. The firm has a market capitalization of $3.16 billion, a P/E ratio of -15.63, a P/E/G ratio of 1.02 and a beta of 1.61. Under Armour, Inc. has a 52-week low of $4.78 and a 52-week high of $11.89.

Under Armour (NYSE:UAA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. Under Armour had a negative net margin of 3.90% and a positive return on equity of 7.04%. Under Armour's quarterly revenue was down 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 earnings per share. Research analysts forecast that Under Armour, Inc. will post 0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

UAA has been the topic of several research reports. Telsey Advisory Group reissued a "market perform" rating and issued a $7.00 price target on shares of Under Armour in a research report on Tuesday, May 13th. Wells Fargo & Company increased their price target on shares of Under Armour from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Truist Financial decreased their price target on shares of Under Armour from $9.00 to $7.00 and set a "hold" rating for the company in a research note on Wednesday, May 14th. Bank of America dropped their price target on shares of Under Armour from $10.00 to $8.00 and set a "neutral" rating on the stock in a report on Wednesday, May 14th. Finally, Citigroup dropped their price objective on shares of Under Armour from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Under Armour presently has an average rating of "Hold" and an average target price of $7.31.

Insider Buying and Selling

In other Under Armour news, insider Mehri Shadman sold 16,287 shares of Under Armour stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $6.14, for a total transaction of $100,002.18. Following the completion of the transaction, the insider directly owned 191,796 shares of the company's stock, valued at $1,177,627.44. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.60% of the stock is owned by insiders.

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.