Under Armour (NYSE:UAA) Shares Gap Up After Insider Buying Activity

Under Armour, Inc. (NYSE:UAA)’s stock price gapped up prior to trading on Friday following insider buying activity. The stock had previously closed at $4.92, but opened at $5.18. Under Armour shares last traded at $5.17, with a volume of 5,652,944 shares.

Specifically, Director Dawn N. Fitzpatrick acquired 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average price of $4.93 per share, for a total transaction of $493,000.00. Following the acquisition, the director directly owned 133,696 shares in the company, valued at $659,121.28. The trade was a 296.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays dropped their price objective on Under Armour from $8.00 to $6.00 and set an “equal weight” rating for the company in a report on Monday, May 12th. JPMorgan Chase & Co. dropped their price objective on Under Armour from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Friday, August 8th. Wells Fargo & Company boosted their price objective on Under Armour from $4.00 to $5.00 and gave the company an “equal weight” rating in a report on Wednesday, May 14th. Robert W. Baird dropped their price objective on Under Armour from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Monday, August 11th. Finally, Wall Street Zen upgraded Under Armour from a “sell” rating to a “hold” rating in a report on Saturday. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Under Armour currently has a consensus rating of “Hold” and a consensus price target of $6.74.

Under Armour Trading Up 5.3%

The firm has a market capitalization of $2.23 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 2.29 and a beta of 1.61. The company has a current ratio of 1.53, a quick ratio of 0.93 and a debt-to-equity ratio of 0.21. The stock has a 50-day simple moving average of $6.65 and a two-hundred day simple moving average of $6.58.

Under Armour (NYSE:UAA) last released its quarterly earnings results on Friday, August 8th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Under Armour had a return on equity of 7.24% and a net margin of 1.99%. The company’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 earnings per share. On average, equities research analysts anticipate that Under Armour, Inc. will post 0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its position in shares of Under Armour by 620.7% in the 2nd quarter. Parallel Advisors LLC now owns 3,892 shares of the company’s stock worth $27,000 after acquiring an additional 3,352 shares in the last quarter. Laurel Wealth Advisors LLC increased its position in Under Armour by 583.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,098 shares of the company’s stock valued at $28,000 after buying an additional 3,498 shares in the last quarter. UMB Bank n.a. increased its position in Under Armour by 133.8% during the 2nd quarter. UMB Bank n.a. now owns 4,203 shares of the company’s stock valued at $29,000 after buying an additional 2,405 shares in the last quarter. Twin Tree Management LP acquired a new position in Under Armour during the 1st quarter valued at about $44,000. Finally, Neo Ivy Capital Management acquired a new position in Under Armour during the 2nd quarter valued at about $44,000. 34.58% of the stock is owned by institutional investors.

About Under Armour

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.