Edgestream Partners L.P. Sells 273,157 Shares of Under Armour, Inc. (NYSE:UA)

Edgestream Partners L.P. cut its stake in shares of Under Armour, Inc. (NYSE:UA - Free Report) by 87.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,751 shares of the company's stock after selling 273,157 shares during the period. Edgestream Partners L.P.'s holdings in Under Armour were worth $242,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Under Armour during the 4th quarter valued at $18,688,000. American Century Companies Inc. grew its position in shares of Under Armour by 182.3% during the 4th quarter. American Century Companies Inc. now owns 2,250,631 shares of the company's stock valued at $16,790,000 after acquiring an additional 1,453,399 shares during the period. Bank of America Corp DE grew its position in shares of Under Armour by 617.4% during the 4th quarter. Bank of America Corp DE now owns 1,555,160 shares of the company's stock valued at $11,601,000 after acquiring an additional 1,338,376 shares during the period. Janus Henderson Group PLC grew its position in shares of Under Armour by 1,477.2% during the 4th quarter. Janus Henderson Group PLC now owns 1,374,220 shares of the company's stock valued at $10,245,000 after acquiring an additional 1,287,088 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Under Armour by 265.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,293,200 shares of the company's stock valued at $9,647,000 after acquiring an additional 939,700 shares during the period. 36.35% of the stock is currently owned by hedge funds and other institutional investors.

Under Armour Stock Performance

Shares of UA stock traded down $0.17 during mid-day trading on Thursday, reaching $6.77. 2,183,704 shares of the company's stock traded hands, compared to its average volume of 2,041,909. Under Armour, Inc. has a 12 month low of $4.62 and a 12 month high of $10.62. The firm has a 50 day moving average price of $6.43 and a two-hundred day moving average price of $6.35. 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 firm has a market capitalization of $2.88 billion, a PE ratio of -14.39 and a beta of 1.54.

Under Armour (NYSE:UA - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. Under Armour had a negative net margin of 3.90% and a positive return on equity of 7.04%.

Insiders Place Their Bets

In related news, insider Mehri Shadman sold 16,287 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $6.14, for a total value of $100,002.18. Following the completion of the transaction, the insider 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 this link. Corporate insiders own 15.60% of the company's stock.

Under Armour Company Profile

Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes 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.