Under Armour Inc. (UA) Short Interest Up 12.6% in October
Under Armour Inc. (NYSE:UA) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 48,089,972 shares, an increase of 12.6% from the October 14th total of 42,699,029 shares. Approximately 26.5% of the company’s shares are short sold. Based on an average daily volume of 12,712,373 shares, the days-to-cover ratio is presently 3.8 days.
Shares of Under Armour (NYSE:UA) opened at 31.82 on Monday. The stock has a market cap of $13.94 billion, a price-to-earnings ratio of 70.71 and a beta of 0.16. The firm has a 50-day moving average price of $35.66 and a 200-day moving average price of $38.67. Under Armour has a 1-year low of $30.06 and a 1-year high of $47.95.
Under Armour (NYSE:UA) last posted its quarterly earnings data on Tuesday, October 25th. The apparel retailer reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. The business earned $1.47 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Under Armour had a return on equity of 14.60% and a net margin of 5.53%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. Equities analysts forecast that Under Armour will post $0.60 EPS for the current year.
UA has been the topic of a number of research reports. Cowen and Company restated an “outperform” rating and set a $46.00 target price on shares of Under Armour in a report on Monday, August 15th. Deutsche Bank AG restated a “buy” rating on shares of Under Armour in a report on Wednesday, August 10th. B. Riley restated a “buy” rating and set a $41.00 target price on shares of Under Armour in a report on Saturday, October 29th. Vetr cut shares of Under Armour from a “strong-buy” rating to a “buy” rating and set a $41.41 target price on the stock. in a report on Tuesday, October 11th. Finally, Piper Jaffray Cos. set a $44.00 price target on shares of Under Armour and gave the stock a “buy” rating in a research note on Wednesday, October 19th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.85.
In other news, CRO Karl-Heinz Maurath sold 54,632 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $43.34, for a total transaction of $2,367,750.88. Following the sale, the executive now owns 25,840 shares in the company, valued at approximately $1,119,905.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Matthew C. Mirchin sold 16,015 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $42.92, for a total transaction of $687,363.80. Following the sale, the insider now owns 29,869 shares in the company, valued at approximately $1,281,977.48. The disclosure for this sale can be found here. Company insiders own 16.50% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Tredje AP fonden boosted its stake in shares of Under Armour by 710.0% in the second quarter. Tredje AP fonden now owns 4,050 shares of the apparel retailer’s stock valued at $163,000 after buying an additional 3,550 shares during the last quarter. Geduld E E purchased a new stake in shares of Under Armour during the second quarter valued at approximately $201,000. Boothbay Fund Management LLC purchased a new stake in shares of Under Armour during the first quarter valued at approximately $204,000. Prospera Financial Services Inc boosted its stake in shares of Under Armour by 34.9% in the second quarter. Prospera Financial Services Inc now owns 5,121 shares of the apparel retailer’s stock valued at $206,000 after buying an additional 1,325 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in shares of Under Armour by 19.5% in the second quarter. Stratos Wealth Partners LTD. now owns 5,180 shares of the apparel retailer’s stock valued at $208,000 after buying an additional 845 shares during the last quarter. Hedge funds and other institutional investors own 36.61% of the company’s stock.
About Under Armour
Under Armour, Inc is engaged in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. The Company’s segments include North America, consisting of the United States and Canada; Europe, the Middle East and Africa (EMEA); Asia-Pacific; Latin America, and Connected Fitness.
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