Meeder Asset Management Inc. reduced its holdings in shares of Under Armour Inc (NYSE:UA) by 16.0% in the first quarter, Holdings Channel reports. The fund owned 7,895 shares of the company’s stock after selling 1,502 shares during the quarter. Meeder Asset Management Inc.’s holdings in Under Armour were worth $149,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Focused Wealth Management Inc raised its position in Under Armour by 495.7% during the 4th quarter. Focused Wealth Management Inc now owns 1,551 shares of the company’s stock valued at $25,000 after purchasing an additional 1,943 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Under Armour by 54.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,935 shares of the company’s stock valued at $31,000 after purchasing an additional 679 shares in the last quarter. Enlightenment Research LLC bought a new stake in Under Armour during the 4th quarter valued at $34,000. Rehmann Capital Advisory Group raised its position in Under Armour by 152.7% during the 4th quarter. Rehmann Capital Advisory Group now owns 2,188 shares of the company’s stock valued at $37,000 after purchasing an additional 1,322 shares in the last quarter. Finally, Bremer Trust National Association bought a new stake in Under Armour during the 4th quarter valued at $38,000. 33.54% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Paul Fipps sold 23,247 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $19.49, for a total transaction of $453,084.03. Following the transaction, the insider now directly owns 362,784 shares in the company, valued at approximately $7,070,660.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 15.90% of the stock is owned by insiders.
Under Armour (NYSE:UA) last announced its earnings results on Tuesday, February 12th. The company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.05. Under Armour had a positive return on equity of 6.03% and a negative net margin of 0.89%. The firm had revenue of $1.39 billion for the quarter.
A number of brokerages have recently issued reports on UA. Pivotal Research reiterated a “hold” rating and issued a $22.00 price target on shares of Under Armour in a report on Wednesday, February 13th. B. Riley set a $12.00 price target on Under Armour and gave the company a “sell” rating in a report on Tuesday, April 9th. Canaccord Genuity set a $13.00 price target on Under Armour and gave the company a “sell” rating in a report on Tuesday, March 19th. Piper Jaffray Companies set a $30.00 price target on Under Armour and gave the company a “buy” rating in a report on Monday, December 31st. Finally, ValuEngine upgraded Under Armour from a “hold” rating to a “buy” rating in a report on Saturday, January 19th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $19.44.
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About Under Armour
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 and cold.
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