Under Armour (NYSE:UA) Shares Gap Up After Insider Buying Activity

Key Points

• Under Armour's share price increased from $4.76 to $5.35 after insider director Dawn N. Fitzpatrick purchased 100,000 shares at an average of $4.93, significantly boosting her position by nearly 297%.
• The company's quarterly earnings reported on August 8th met analyst expectations, showing earnings of $0.02 per share but fell short on revenue with $1.13 billion against a $1.36 billion estimate.
• Institutional ownership in Under Armour has risen, with significant increases from hedge funds such as Bank of America Corp DE, which grew its position in the stock by over 617% in the last quarter.

Under Armour, Inc. (NYSE:UA - Get Free Report)'s share price gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $4.76, but opened at $5.35. Under Armour shares last traded at $5.01, with a volume of 6,511,345 shares traded.

Specifically, Director Dawn N. Fitzpatrick purchased 100,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average cost of $4.93 per share, for a total transaction of $493,000.00. Following the acquisition, the director owned 133,696 shares of the company's stock, valued at $659,121.28. The trade was a 296.77% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Under Armour Price Performance

The company has a current ratio of 1.53, a quick ratio of 0.93 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 22.80 and a beta of 1.54. The stock has a 50-day moving average price of $6.32 and a two-hundred day moving average price of $6.19.

Under Armour (NYSE:UA - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.36 billion. Under Armour had a return on equity of 7.24% and a net margin of 1.99%.

Hedge Funds Weigh In On Under Armour

Several institutional investors and hedge funds have recently modified their holdings of the stock. BDT Capital Partners LLC grew its position in shares of Under Armour by 4.9% in the second quarter. BDT Capital Partners LLC now owns 62,463,879 shares of the company's stock valued at $405,391,000 after purchasing an additional 2,898,561 shares during the period. American Century Companies Inc. raised its holdings in shares of Under Armour by 12.0% during the second quarter. American Century Companies Inc. now owns 3,508,113 shares of the company's stock valued at $22,768,000 after acquiring an additional 375,548 shares during the last quarter. Norges Bank acquired a new position in shares of Under Armour during the second quarter valued at approximately $18,920,000. Nuveen Asset Management LLC raised its holdings in shares of Under Armour by 58.9% during the fourth quarter. Nuveen Asset Management LLC now owns 2,132,175 shares of the company's stock valued at $15,906,000 after acquiring an additional 790,518 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Under Armour by 617.4% in the fourth quarter. Bank of America Corp DE now owns 1,555,160 shares of the company's stock valued at $11,601,000 after purchasing an additional 1,338,376 shares in the last quarter. Institutional investors and hedge funds own 36.35% 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.

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