Under Armour (NYSE:UAA) Stock Price Crosses Below 50 Day Moving Average – Should You Sell?

Under Armour, Inc. (NYSE:UAA) passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $4.90 and traded as low as $4.86. Under Armour shares last traded at $4.8950, with a volume of 9,907,010 shares.

Analyst Upgrades and Downgrades

A number of research firms have commented on UAA. Telsey Advisory Group reduced their price objective on shares of Under Armour from $5.50 to $5.00 and set a “market perform” rating for the company in a research note on Monday. UBS Group reissued a “buy” rating and issued a $8.00 target price (down from $9.00) on shares of Under Armour in a research report on Wednesday, October 28th. Barclays lowered shares of Under Armour from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Under Armour in a research note on Wednesday, November 4th. Finally, Truist Financial lifted their price objective on shares of Under Armour from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.80.

Under Armour Trading Down 2.3%

The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -4.41, a price-to-earnings-growth ratio of 1.97 and a beta of 1.58. The company has a current ratio of 1.95, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average price of $4.90 and a 200-day moving average price of $5.91.

Hedge Funds Weigh In On Under Armour

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UAA. Vontobel Holding Ltd. lifted its stake in shares of Under Armour by 446.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 839,441 shares of the company’s stock valued at $3,744,000 after purchasing an additional 685,949 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in Under Armour by 99.7% during the 1st quarter. Bleakley Financial Group LLC now owns 476,521 shares of the company’s stock valued at $2,816,000 after purchasing an additional 237,957 shares during the period. State Street Corp grew its stake in shares of Under Armour by 27.8% in the second quarter. State Street Corp now owns 7,682,658 shares of the company’s stock worth $49,092,000 after acquiring an additional 1,669,312 shares during the last quarter. Quantinno Capital Management LP grew its position in Under Armour by 100.9% in the 1st quarter. Quantinno Capital Management LP now owns 1,226,299 shares of the company’s stock worth $7,247,000 after purchasing an additional 615,828 shares during the last quarter. Finally, Transmarket Holdings LP bought a new position in Under Armour during the third quarter valued at about $4,681,000. Institutional investors own 34.58% of the company’s stock.

About Under Armour

Under Armour, Inc. develops, markets and sells performance apparel, footwear and accessories. Its products are designed for athletic training, competition and everyday use, and include technical apparel, running and training shoes, sports accessories and connected fitness offerings. Founded in 1996 by Kevin Plank, the company built its early business around moisture-wicking performance apparel. Under Armour sells products through wholesale partners and its own direct-to-consumer channels, including retail stores and e-commerce.