Under Armour, Inc. (NYSE:UAA) Short Interest Up 337.4% in July

Key Points

• Under Armour's short interest surged by 337.4% in July, with a total of 40,420,000 shares sold short, making up approximately 21.5% of its outstanding shares.
• The company reported a quarterly loss of $0.08 per share, beating expectations, but its revenue decreased by 11.4% compared to the same quarter last year, totaling $1.18 billion.
• Recent analyst ratings are mixed, with a consensus rating of "Hold" and a price target averaging $7.31 following multiple upgrades and downgrades from different firms.

Under Armour, Inc. (NYSE:UAA - Get Free Report) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 40,420,000 shares, agrowthof337.4% from the June 30th total of 9,240,000 shares. Approximately21.5% of the shares of the company are sold short. Based on an average trading volume of 12,020,000 shares, the short-interest ratio is presently 3.4 days. Based on an average trading volume of 12,020,000 shares, the short-interest ratio is presently 3.4 days. Approximately21.5% of the shares of the company are sold short.

Under Armour Price Performance

UAA opened at $6.56 on Friday. The business's 50-day moving average is $6.84 and its two-hundred day moving average is $6.74. Under Armour has a 1 year low of $4.78 and a 1 year high of $11.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.10 and a quick ratio of 1.25. The firm has a market capitalization of $2.82 billion, a PE ratio of -13.96, a price-to-earnings-growth ratio of 0.91 and a beta of 1.61.

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

Analyst Upgrades and Downgrades

UAA has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Under Armour in a research note on Wednesday, July 2nd. They issued a "neutral" rating and a $7.00 price objective on the stock. Barclays reduced their target price on shares of Under Armour from $8.00 to $6.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. BMO Capital Markets reduced their target price on shares of Under Armour from $12.00 to $9.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. Truist Financial cut their price objective on shares of Under Armour from $9.00 to $7.00 and set a "hold" rating for the company in a report on Wednesday, May 14th. Finally, Citigroup lowered their target price on Under Armour from $8.00 to $6.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $7.31.

Insider Transactions at Under Armour

In other Under Armour news, insider Mehri Shadman sold 16,287 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $6.14, for a total transaction of $100,002.18. Following the transaction, the insider 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 15.60% of the company's stock.

Hedge Funds Weigh In On Under Armour

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its stake in shares of Under Armour by 620.7% during the second quarter. Parallel Advisors LLC now owns 3,892 shares of the company's stock worth $27,000 after acquiring an additional 3,352 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Under Armour by 133.8% during the second quarter. UMB Bank n.a. now owns 4,203 shares of the company's stock worth $29,000 after acquiring an additional 2,405 shares during the last quarter. Twin Tree Management LP acquired a new stake in shares of Under Armour during the first quarter worth about $44,000. GAMMA Investing LLC lifted its holdings in shares of Under Armour by 163.3% during the second quarter. GAMMA Investing LLC now owns 7,013 shares of the company's stock worth $48,000 after purchasing an additional 4,350 shares during the period. Finally, Cerity Partners LLC acquired a new stake in shares of Under Armour during the first quarter worth about $66,000. Hedge funds and other institutional investors own 34.58% of the company's stock.

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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