ICONIQ Capital LLC purchased a new stake in Under Armour Inc (NYSE:UA) during the first quarter, Holdings Channel reports. The institutional investor purchased 13,490 shares of the company’s stock, valued at approximately $255,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc raised its stake in shares of Under Armour by 1.0% during the third quarter. Vanguard Group Inc now owns 19,163,832 shares of the company’s stock valued at $372,929,000 after purchasing an additional 192,829 shares during the period. Xact Kapitalforvaltning AB raised its stake in shares of Under Armour by 21.1% during the fourth quarter. Xact Kapitalforvaltning AB now owns 41,902 shares of the company’s stock valued at $678,000 after purchasing an additional 7,300 shares during the period. Rhumbline Advisers raised its stake in shares of Under Armour by 3.6% during the fourth quarter. Rhumbline Advisers now owns 334,934 shares of the company’s stock valued at $5,416,000 after purchasing an additional 11,574 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of Under Armour by 2.4% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 273,557 shares of the company’s stock valued at $4,423,000 after purchasing an additional 6,420 shares during the period. Finally, TD Asset Management Inc. raised its stake in shares of Under Armour by 4.8% during the fourth quarter. TD Asset Management Inc. now owns 60,334 shares of the company’s stock valued at $976,000 after purchasing an additional 2,764 shares during the period. Hedge funds and other institutional investors own 32.37% of the company’s stock.

UA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of Under Armour from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $23.00 to $29.00 in a research note on Friday, May 17th. ValuEngine lowered shares of Under Armour from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Pivotal Research restated a “hold” rating and issued a $23.00 price target on shares of Under Armour in a research note on Tuesday, April 30th. Canaccord Genuity set a $13.00 price target on shares of Under Armour and gave the stock a “sell” rating in a research note on Tuesday, March 19th. Finally, B. Riley set a $12.00 price target on shares of Under Armour and gave the stock a “sell” rating in a research note on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $20.50.

Shares of NYSE:UA traded down $0.04 during midday trading on Wednesday, reaching $23.06. The company had a trading volume of 92,179 shares, compared to its average volume of 2,326,098. The company has a current ratio of 2.02, a quick ratio of 1.22 and a debt-to-equity ratio of 0.58. The firm has a market cap of $10.46 billion, a PE ratio of 85.33 and a beta of 0.88. Under Armour Inc has a one year low of $15.05 and a one year high of $23.39.

Under Armour (NYSE:UA) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $1.20 billion during the quarter. Under Armour had a net margin of 0.12% and a return on equity of 7.05%. As a group, equities research analysts forecast that Under Armour Inc will post 0.35 EPS for the current fiscal year.

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About Under Armour

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 and cold.

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Institutional Ownership by Quarter for Under Armour (NYSE:UA)

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