State of Wisconsin Investment Board increased its holdings in shares of Under Armour (NYSE:UA) by 392.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,026,499 shares of the company’s stock after purchasing an additional 1,614,704 shares during the period. State of Wisconsin Investment Board owned approximately 0.46% of Under Armour worth $29,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of UA. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Under Armour during the fourth quarter worth $127,000. CIBC World Markets Inc. purchased a new position in shares of Under Armour during the fourth quarter worth $157,000. Mengis Capital Management Inc. purchased a new position in shares of Under Armour during the fourth quarter worth $170,000. MML Investors Services LLC purchased a new position in shares of Under Armour during the fourth quarter worth $170,000. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Under Armour during the fourth quarter worth $180,000. 32.36% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Kerry D. Chandler sold 19,643 shares of Under Armour stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $15.09, for a total value of $296,412.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Harvey Sanders sold 6,372 shares of Under Armour stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $16.29, for a total transaction of $103,799.88. Following the completion of the sale, the director now owns 257,439 shares in the company, valued at approximately $4,193,681.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,364 shares of company stock worth $1,068,255. Company insiders own 16.00% of the company’s stock.
Several research analysts recently issued reports on the stock. Deutsche Bank raised shares of Under Armour to a “hold” rating and set a $16.00 target price for the company in a report on Monday, April 23rd. Stifel Nicolaus set a $18.00 target price on shares of Under Armour and gave the stock a “buy” rating in a report on Tuesday, April 24th. Canaccord Genuity reissued a “sell” rating and set a $9.00 target price on shares of Under Armour in a report on Monday, April 30th. Raymond James restated a “sell” rating on shares of Under Armour in a research report on Tuesday, February 13th. Finally, JPMorgan Chase raised their price target on shares of Under Armour from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Eleven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. Under Armour presently has a consensus rating of “Hold” and an average price target of $14.45.
Shares of Under Armour opened at $16.66 on Tuesday, according to MarketBeat Ratings. Under Armour has a 52-week low of $16.46 and a 52-week high of $16.90. The stock has a market capitalization of $7.47 billion, a PE ratio of 88.95 and a beta of -0.76.
Under Armour (NYSE:UA) last announced its earnings results on Tuesday, February 13th. The company reported ($0.20) earnings per share (EPS) for the quarter. Under Armour had a negative net margin of 1.51% and a positive return on equity of 9.38%. The company had revenue of $1.37 billion during the quarter. During the same quarter last year, the business posted $0.23 EPS.
Under Armour Profile
Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot, cold, and in between the extremes.
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