Allspring Global Investments Holdings LLC Sells 204,062 Shares of Under Armour, Inc. (NYSE:UAA)

Allspring Global Investments Holdings LLC cut its stake in shares of Under Armour, Inc. (NYSE:UAA) by 92.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,977 shares of the company’s stock after selling 204,062 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Under Armour were worth $115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP bought a new position in shares of Under Armour during the first quarter valued at $32,000. Captrust Financial Advisors increased its holdings in shares of Under Armour by 58.0% during the first quarter. Captrust Financial Advisors now owns 5,168 shares of the company’s stock valued at $88,000 after acquiring an additional 1,897 shares in the last quarter. Harbour Investments Inc. increased its holdings in Under Armour by 335.1% in the 4th quarter. Harbour Investments Inc. now owns 6,483 shares of the company’s stock worth $66,000 after buying an additional 4,993 shares in the last quarter. DC Investments Management LLC bought a new stake in Under Armour in the 1st quarter worth about $113,000. Finally, Westpac Banking Corp bought a new stake in Under Armour in the 1st quarter worth about $66,000. 38.45% of the stock is currently owned by institutional investors.

Under Armour Stock Up 8.6 %

UAA stock opened at $7.58 on Wednesday. Under Armour, Inc. has a twelve month low of $6.29 and a twelve month high of $13.05. The company has a quick ratio of 1.35, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The stock has a market cap of $3.38 billion, a P/E ratio of 8.33, a PEG ratio of 1.61 and a beta of 1.69. The business’s 50-day moving average price is $7.00 and its 200-day moving average price is $7.43.

Under Armour (NYSE:UAA) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. Under Armour had a return on equity of 14.01% and a net margin of 7.00%. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the firm earned $0.20 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, equities research analysts forecast that Under Armour, Inc. will post 0.49 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on UAA shares. StockNews.com started coverage on Under Armour in a report on Thursday, October 5th. They issued a “hold” rating for the company. Evercore ISI assumed coverage on Under Armour in a report on Tuesday, November 7th. They issued an “inline” rating and a $8.00 price objective for the company. Piper Sandler dropped their target price on Under Armour from $10.00 to $8.50 and set a “neutral” rating on the stock in a research report on Thursday, November 9th. Telsey Advisory Group reissued a “market perform” rating and issued a $9.00 target price on shares of Under Armour in a research report on Thursday, November 2nd. Finally, TheStreet cut Under Armour from a “c-” rating to a “d” rating in a research report on Tuesday, August 8th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.36.

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.