Panagora Asset Management Inc. Cuts Position in Under Armour Inc (NYSE:UA)

Panagora Asset Management Inc. lessened its stake in Under Armour Inc (NYSE:UA) by 24.7% in the second quarter, HoldingsChannel.com reports. The firm owned 25,786 shares of the company’s stock after selling 8,452 shares during the quarter. Panagora Asset Management Inc.’s holdings in Under Armour were worth $572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GMT Capital Corp purchased a new position in Under Armour during the 1st quarter valued at about $11,786,000. ICONIQ Capital LLC purchased a new position in Under Armour during the 1st quarter valued at about $255,000. NumerixS Investment Technologies Inc increased its holdings in Under Armour by 1,070.3% during the 1st quarter. NumerixS Investment Technologies Inc now owns 40,960 shares of the company’s stock valued at $776,000 after acquiring an additional 37,460 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in Under Armour during the 1st quarter valued at about $108,000. Finally, Bray Capital Advisors purchased a new position in Under Armour during the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 32.49% of the company’s stock.

Shares of NYSE UA traded down $0.84 during midday trading on Friday, reaching $16.30. 1,406,692 shares of the stock were exchanged, compared to its average volume of 2,873,697. The company has a market capitalization of $7.61 billion, a P/E ratio of 60.37 and a beta of 0.96. Under Armour Inc has a 52-week low of $15.05 and a 52-week high of $24.55. The company has a current ratio of 1.83, a quick ratio of 1.11 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average price of $21.00 and a 200-day moving average price of $20.48.

Under Armour (NYSE:UA) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $1.19 billion during the quarter. Under Armour had a net margin of 1.62% and a return on equity of 7.83%. On average, analysts forecast that Under Armour Inc will post 0.35 earnings per share for the current year.

In other news, insider Kevin Eskridge sold 56,500 shares of Under Armour stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $17.69, for a total transaction of $999,485.00. Following the completion of the sale, the insider now directly owns 196,374 shares in the company, valued at $3,473,856.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 15.90% of the company’s stock.

UA has been the subject of several recent research reports. Piper Jaffray Companies set a $30.00 target price on shares of Under Armour and gave the company a “buy” rating in a report on Monday, June 24th. Pivotal Research restated a “hold” rating and set a $25.00 target price on shares of Under Armour in a report on Wednesday, July 24th. ValuEngine downgraded shares of Under Armour from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Stifel Nicolaus set a $30.00 target price on shares of Under Armour and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Evercore ISI restated a “buy” rating and set a $33.00 target price on shares of Under Armour in a report on Sunday, August 11th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $22.91.

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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Institutional Ownership by Quarter for Under Armour (NYSE:UA)

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