Pictet Asset Management SA lessened its stake in Under Armour, Inc. (NYSE:UAA – Get Rating) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 312,083 shares of the company’s stock after selling 8,542 shares during the quarter. Pictet Asset Management SA owned about 0.07% of Under Armour worth $2,600,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Keebeck Alpha LP lifted its holdings in shares of Under Armour by 45.8% during the 2nd quarter. Keebeck Alpha LP now owns 21,132 shares of the company’s stock valued at $176,000 after acquiring an additional 6,635 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Under Armour during the 2nd quarter valued at $306,000. Quent Capital LLC lifted its holdings in shares of Under Armour by 14,049.6% during the 2nd quarter. Quent Capital LLC now owns 17,121 shares of the company’s stock valued at $143,000 after acquiring an additional 17,000 shares in the last quarter. Texas Permanent School Fund lifted its holdings in shares of Under Armour by 303.6% during the 2nd quarter. Texas Permanent School Fund now owns 98,765 shares of the company’s stock valued at $823,000 after acquiring an additional 74,296 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Under Armour during the 2nd quarter valued at $353,000. Institutional investors and hedge funds own 34.83% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Under Armour from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, October 24th. Bank of America started coverage on shares of Under Armour in a research note on Tuesday, November 1st. They set a “neutral” rating and a $8.00 price target on the stock. Telsey Advisory Group lifted their price target on shares of Under Armour from $8.00 to $9.00 and gave the stock a “market perform” rating in a research note on Friday, November 4th. Raymond James started coverage on shares of Under Armour in a research note on Wednesday, October 12th. They set a “market perform” rating on the stock. Finally, BMO Capital Markets dropped their price target on shares of Under Armour from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.27.
Under Armour Trading Down 4.8 %
Under Armour (NYSE:UAA – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. Under Armour had a net margin of 2.51% and a return on equity of 9.13%. Under Armour’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS. Sell-side analysts expect that Under Armour, Inc. will post 0.46 earnings per share for the current year.
Under Armour Profile
Under Armour, Inc, together with its subsidiaries, engages in the developing, marketing, and distributing performance apparel, footwear, and accessories for men, women, and youth. The company offers its apparel in compression, fitted, and loose fit types. It also provides footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications.
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