Entropy Technologies LP Buys Shares of 81,700 Under Armour, Inc. (NYSE:UAA)

Key Points

• Entropy Technologies LP acquired 81,700 shares of Under Armour, Inc., valued at approximately $511,000, during the first quarter.
• Institutional investors and hedge funds now own 34.58% of Under Armour's stock, with notable increases from firms like Northern Trust Corp and JPMorgan Chase & Co.
• Under Armour reported earnings per share of $0.02 for the last quarter, missing expectations by $0.01, with a 4.2% year-over-year revenue decrease.

Entropy Technologies LP bought a new stake in Under Armour, Inc. (NYSE:UAA - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 81,700 shares of the company's stock, valued at approximately $511,000.

Other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp raised its stake in Under Armour by 18.9% during the fourth quarter. Northern Trust Corp now owns 1,729,796 shares of the company's stock worth $14,323,000 after acquiring an additional 275,131 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Under Armour by 36.5% during the fourth quarter. JPMorgan Chase & Co. now owns 554,525 shares of the company's stock worth $4,591,000 after acquiring an additional 148,280 shares in the last quarter. Eisler Capital Management Ltd. acquired a new position in Under Armour during the fourth quarter worth about $2,514,000. Alyeska Investment Group L.P. raised its stake in Under Armour by 55.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 9,789,553 shares of the company's stock worth $81,057,000 after acquiring an additional 3,503,006 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Under Armour by 24.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 35,972 shares of the company's stock worth $225,000 after acquiring an additional 7,114 shares in the last quarter. Institutional investors and hedge funds own 34.58% of the company's stock.

Insider Activity

In other Under Armour 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 transaction of $100,002.18. Following the transaction, the insider directly owned 191,796 shares in the company, valued at approximately $1,177,627.44. This represents a 7.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.60% of the company's stock.

Under Armour Price Performance

Under Armour stock opened at $5.05 on Thursday. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 1.85 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. The stock's 50 day moving average price is $6.72 and its two-hundred day moving average price is $6.62. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.93 and a current ratio of 1.53.

Under Armour (NYSE:UAA - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Under Armour had a return on equity of 7.24% and a net margin of 1.99%. Under Armour's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 earnings per share. On average, equities analysts predict that Under Armour, Inc. will post 0.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on UAA shares. Truist Financial lowered their target price on Under Armour from $9.00 to $7.00 and set a "hold" rating for the company in a research note on Wednesday, May 14th. The Goldman Sachs Group began coverage on Under Armour in a research note on Wednesday, July 2nd. They issued a "neutral" rating and a $7.00 price objective for the company. UBS Group lowered their price objective on Under Armour from $8.00 to $7.50 and set a "buy" rating for the company in a research note on Monday. Wall Street Zen downgraded Under Armour from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Finally, Bank of America lowered their price objective on Under Armour from $8.00 to $6.50 and set a "neutral" rating for the company in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Under Armour presently has an average rating of "Hold" and a consensus price target of $6.74.

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.

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