New York State Common Retirement Fund Decreases Holdings in Under Armour, Inc. (NYSE:UAA)

New York State Common Retirement Fund cut its stake in shares of Under Armour, Inc. (NYSE:UAA) by 21.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 92,303 shares of the company’s stock after selling 24,500 shares during the period. New York State Common Retirement Fund’s holdings in Under Armour were worth $577,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Grant GrossMendelsohn LLC raised its stake in Under Armour by 32.9% during the 1st quarter. Grant GrossMendelsohn LLC now owns 20,185 shares of the company’s stock valued at $117,000 after buying an additional 5,000 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Under Armour during the 1st quarter valued at $66,000. Principal Financial Group Inc. grew its position in shares of Under Armour by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 435,307 shares of the company’s stock valued at $2,721,000 after acquiring an additional 1,888 shares during the period. Vontobel Holding Ltd. bought a new stake in shares of Under Armour during the 1st quarter valued at $623,000. Finally, Verity Asset Management Inc. bought a new stake in shares of Under Armour during the 1st quarter valued at $880,000. 34.58% of the stock is currently owned by hedge funds and other institutional investors.

Under Armour Stock Up 2.4%

UAA opened at $7.35 on Friday. The firm has a 50-day simple moving average of $6.83 and a two-hundred day simple moving average of $6.80. Under Armour, Inc. has a 52 week low of $4.78 and a 52 week high of $11.89. The company has a market capitalization of $3.16 billion, a PE ratio of -15.63, a price-to-earnings-growth ratio of 0.99 and a beta of 1.61. The company has a quick ratio of 1.25, a current ratio of 2.10 and a debt-to-equity ratio of 0.31.

Under Armour (NYSE:UAA) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. Under Armour had a negative net margin of 3.90% and a positive return on equity of 7.04%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm earned $0.11 EPS. The business’s revenue was down 11.4% on a year-over-year basis. Analysts forecast that Under Armour, Inc. will post 0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UAA has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Under Armour from a “hold” rating to a “sell” rating in a research report on Saturday, May 24th. Wells Fargo & Company boosted their price objective on shares of Under Armour from $4.00 to $5.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. BMO Capital Markets cut their price objective on shares of Under Armour from $12.00 to $9.00 and set an “outperform” rating for the company in a research report on Wednesday, May 14th. Barclays cut their price objective on shares of Under Armour from $8.00 to $6.00 and set an “equal weight” rating for the company in a research report on Monday, May 12th. Finally, Bank of America cut their price objective on shares of Under Armour from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Under Armour has a consensus rating of “Hold” and a consensus price target of $7.31.

Insider Activity at Under Armour

In other Under Armour news, insider Mehri Shadman sold 16,287 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $6.14, for a total transaction of $100,002.18. Following the completion of the transaction, the insider owned 191,796 shares of the company’s stock, valued at $1,177,627.44. This represents a 7.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.60% of the stock is owned by company 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.