Bank of New York Mellon Corp Trims Stake in Under Armour, Inc. (NYSE:UAA)

Bank of New York Mellon Corp reduced its stake in shares of Under Armour, Inc. (NYSE:UAA) by 11.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,767,738 shares of the company’s stock after selling 236,421 shares during the quarter. Bank of New York Mellon Corp owned 0.40% of Under Armour worth $16,776,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of UAA. Raymond James & Associates grew its holdings in Under Armour by 75.9% in the first quarter. Raymond James & Associates now owns 191,303 shares of the company’s stock valued at $3,256,000 after purchasing an additional 82,568 shares during the period. American Century Companies Inc. grew its holdings in Under Armour by 24.9% in the first quarter. American Century Companies Inc. now owns 27,205 shares of the company’s stock valued at $463,000 after purchasing an additional 5,428 shares during the period. Cetera Advisor Networks LLC acquired a new stake in Under Armour in the first quarter valued at approximately $202,000. PNC Financial Services Group Inc. grew its holdings in Under Armour by 11.1% in the first quarter. PNC Financial Services Group Inc. now owns 38,528 shares of the company’s stock valued at $657,000 after purchasing an additional 3,861 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in Under Armour by 56.5% in the first quarter. Acadian Asset Management LLC now owns 15,360 shares of the company’s stock valued at $260,000 after purchasing an additional 5,543 shares during the period. 38.45% of the stock is owned by institutional investors and hedge funds.

Under Armour Price Performance

NYSE:UAA opened at $7.74 on Wednesday. Under Armour, Inc. has a 52 week low of $6.38 and a 52 week high of $13.05. The company has a quick ratio of 1.14, a current ratio of 2.04 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $3.44 billion, a P/E ratio of 8.99, a P/E/G ratio of 1.22 and a beta of 1.62. The stock’s fifty day moving average is $7.65 and its two-hundred day moving average is $8.30.

Under Armour (NYSE:UAA) last posted its earnings results on Tuesday, August 8th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.05. Under Armour had a return on equity of 13.59% and a net margin of 6.60%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts expect that Under Armour, Inc. will post 0.49 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on UAA. TheStreet lowered Under Armour from a “c-” rating to a “d” rating in a report on Tuesday, August 8th. StockNews.com started coverage on Under Armour in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Morgan Stanley lowered their price target on Under Armour from $10.00 to $8.00 in a research note on Wednesday, May 10th. Barclays lowered their price target on Under Armour from $9.00 to $8.00 in a research note on Wednesday, May 10th. Finally, Telsey Advisory Group lowered their price target on Under Armour from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 9th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.21.

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.