Bank of New York Mellon Corp Trims Position in Under Armour, Inc. (UA)
Bank of New York Mellon Corp lessened its stake in Under Armour, Inc. (NYSE:UA) by 52.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,409,998 shares of the company’s stock after selling 1,533,683 shares during the period. Bank of New York Mellon Corp owned about 0.32% of Under Armour worth $28,426,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eqis Capital Management Inc. raised its position in Under Armour by 26.5% in the first quarter. Eqis Capital Management Inc. now owns 14,857 shares of the company’s stock worth $272,000 after purchasing an additional 3,115 shares in the last quarter. Goodman Financial Corp acquired a new position in Under Armour in the first quarter worth about $4,643,000. Brown Capital Management LLC raised its position in Under Armour by 16.3% in the first quarter. Brown Capital Management LLC now owns 31,069 shares of the company’s stock worth $615,000 after purchasing an additional 4,364 shares in the last quarter. Pacer Advisors Inc. raised its position in Under Armour by 3.3% in the first quarter. Pacer Advisors Inc. now owns 6,936 shares of the company’s stock worth $137,000 after purchasing an additional 220 shares in the last quarter. Finally, Cibc World Markets Corp raised its position in Under Armour by 52.4% in the first quarter. Cibc World Markets Corp now owns 38,444 shares of the company’s stock worth $732,000 after purchasing an additional 13,211 shares in the last quarter. Institutional investors and hedge funds own 31.01% of the company’s stock.
Shares of Under Armour, Inc. (NYSE UA) opened at 16.34 on Tuesday. Under Armour, Inc. has a 12-month low of $14.98 and a 12-month high of $34.99. The stock’s 50 day moving average is $16.47 and its 200 day moving average is $18.18. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 33.08 and a beta of 1.08.
Under Armour (NYSE:UA) last issued its quarterly earnings results on Tuesday, August 1st. The company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.04. Under Armour had a net margin of 4.38% and a return on equity of 11.06%. The company had revenue of $1.09 billion during the quarter. Equities analysts expect that Under Armour, Inc. will post $0.38 earnings per share for the current year.
Several research analysts recently issued reports on UA shares. Vetr raised shares of Under Armour from a “hold” rating to a “buy” rating and set a $18.88 price target for the company in a research report on Tuesday, July 25th. Jefferies Group LLC set a $28.00 price target on shares of Under Armour and gave the stock a “buy” rating in a research report on Monday, July 31st. BidaskClub raised shares of Under Armour from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Deutsche Bank AG lowered shares of Under Armour from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Credit Suisse Group set a $17.00 price target on shares of Under Armour and gave the stock a “sell” rating in a research report on Wednesday, June 14th. Eight analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $18.87.
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Under Armour Profile
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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