Victory Capital Management Inc. Raises Position in Under Armour Inc (UA)
Victory Capital Management Inc. increased its position in Under Armour Inc (NYSE:UA) by 187.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,445,502 shares of the company’s stock after purchasing an additional 942,714 shares during the quarter. Victory Capital Management Inc. owned approximately 0.32% of Under Armour worth $28,129,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. increased its stake in shares of Under Armour by 155.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,264 shares of the company’s stock valued at $111,000 after buying an additional 3,200 shares in the last quarter. US Bancorp DE increased its stake in shares of Under Armour by 88.4% in the second quarter. US Bancorp DE now owns 8,459 shares of the company’s stock valued at $178,000 after buying an additional 3,969 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Under Armour by 1.3% in the second quarter. Rhumbline Advisers now owns 325,109 shares of the company’s stock valued at $6,853,000 after buying an additional 4,107 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Under Armour by 6.4% in the second quarter. Public Employees Retirement System of Ohio now owns 80,485 shares of the company’s stock valued at $1,697,000 after buying an additional 4,872 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Under Armour by 9.1% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 62,421 shares of the company’s stock valued at $1,316,000 after buying an additional 5,200 shares in the last quarter. 33.35% of the stock is owned by hedge funds and other institutional investors.
Shares of UA stock opened at $20.82 on Tuesday. The stock has a market capitalization of $9.30 billion, a P/E ratio of 109.58 and a beta of -0.59. Under Armour Inc has a 12 month low of $10.70 and a 12 month high of $22.68.
In related news, CFO David Bergman sold 5,000 shares of Under Armour stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $21.30, for a total value of $106,500.00. Following the completion of the sale, the chief financial officer now directly owns 160,166 shares in the company, valued at $3,411,535.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 16.00% of the stock is owned by company insiders.
UA has been the subject of a number of research reports. Cowen set a $21.00 target price on Under Armour and gave the company a “hold” rating in a research note on Tuesday, October 30th. ValuEngine upgraded Under Armour from a “hold” rating to a “buy” rating in a research note on Saturday, September 22nd. TheStreet upgraded Under Armour from a “d+” rating to a “c-” rating in a research note on Tuesday, October 30th. Canaccord Genuity set a $13.00 target price on Under Armour and gave the company a “sell” rating in a research note on Thursday, November 1st. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $20.00 target price on shares of Under Armour in a research note on Thursday, July 26th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Under Armour presently has a consensus rating of “Hold” and a consensus target price of $16.92.
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Under Armour Profile
Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot, cold, and in between the extremes.
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