Geode Capital Management LLC Has $25.68 Million Stock Position in Under Armour, Inc. (NYSE:UAA)

Geode Capital Management LLC cut its stake in Under Armour, Inc. (NYSE:UAA) by 8.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,881,081 shares of the company’s stock after selling 249,650 shares during the period. Geode Capital Management LLC owned about 0.67% of Under Armour worth $25,679,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of UAA. Nomura Asset Management Co. Ltd. lifted its holdings in Under Armour by 163.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,900 shares of the company’s stock valued at $26,000 after purchasing an additional 1,800 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Under Armour in the third quarter valued at approximately $56,000. CWM LLC boosted its holdings in shares of Under Armour by 20.7% in the 3rd quarter. CWM LLC now owns 8,211 shares of the company’s stock worth $73,000 after acquiring an additional 1,409 shares in the last quarter. Koss Olinger Consulting LLC bought a new stake in Under Armour during the 2nd quarter worth approximately $79,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Under Armour during the 2nd quarter worth approximately $80,000. 34.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Barclays cut their price objective on Under Armour from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th. UBS Group increased their price objective on shares of Under Armour from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Morgan Stanley reaffirmed an “underweight” rating and issued a $4.00 target price on shares of Under Armour in a research note on Friday, December 13th. Robert W. Baird upped their target price on shares of Under Armour from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $10.00 price target on shares of Under Armour in a report on Friday, December 13th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.28.

Under Armour Stock Down 0.8 %

NYSE:UAA opened at $8.38 on Friday. The company has a quick ratio of 1.24, a current ratio of 2.18 and a debt-to-equity ratio of 0.30. Under Armour, Inc. has a 12-month low of $6.17 and a 12-month high of $11.89. The firm has a market capitalization of $3.62 billion, a P/E ratio of -279.24 and a beta of 1.69. The stock’s fifty day simple moving average is $9.28 and its 200-day simple moving average is $8.14.

Insider Activity

In related news, insider Mehri Shadman sold 9,639 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $8.81, for a total transaction of $84,919.59. Following the sale, the insider now owns 172,899 shares of the company’s stock, valued at approximately $1,523,240.19. This trade represents a 5.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David Bergman sold 30,000 shares of Under Armour stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $9.09, for a total value of $272,700.00. Following the transaction, the chief financial officer now owns 494,210 shares in the company, valued at approximately $4,492,368.90. This represents a 5.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,879 shares of company stock valued at $508,642 in the last ninety days. 15.60% of the stock is owned by insiders.

Under Armour Profile

Under Armour, Inc, together with its subsidiaries, engages developing, marketing, and distributing 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.