State Board of Administration of Florida Retirement System lifted its position in Under Armour Inc (NYSE:UAA) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 250,455 shares of the company’s stock after purchasing an additional 4,664 shares during the period. State Board of Administration of Florida Retirement System owned about 0.06% of Under Armour worth $6,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legacy Financial Strategies LLC bought a new position in shares of Under Armour in the second quarter worth $238,000. Geode Capital Management LLC lifted its stake in Under Armour by 10.5% in the 4th quarter. Geode Capital Management LLC now owns 2,412,785 shares of the company’s stock worth $42,551,000 after acquiring an additional 228,475 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in shares of Under Armour during the 1st quarter worth about $164,000. SP Asset Management purchased a new stake in shares of Under Armour during the 1st quarter worth about $208,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Under Armour during the 2nd quarter valued at about $289,000. 36.33% of the stock is owned by hedge funds and other institutional investors.
UAA has been the topic of a number of research analyst reports. ValuEngine lowered Under Armour from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Telsey Advisory Group reiterated a “market perform” rating and issued a $25.00 price objective (up previously from $22.00) on shares of Under Armour in a research report on Thursday, July 25th. Pivotal Research reiterated a “hold” rating and issued a $25.00 price objective (up previously from $23.00) on shares of Under Armour in a research report on Wednesday, July 24th. Wells Fargo & Co lifted their target price on Under Armour from $22.00 to $26.00 and gave the company a “market perform” rating in a research note on Thursday, June 13th. Finally, Zacks Investment Research raised Under Armour from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Wednesday, May 8th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $24.47.
Under Armour (NYSE:UAA) last released its earnings results on Tuesday, July 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Under Armour had a return on equity of 7.86% and a net margin of 1.62%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company posted ($0.08) earnings per share. Under Armour’s revenue was up 1.4% on a year-over-year basis. As a group, equities research analysts expect that Under Armour Inc will post 0.34 EPS for the current fiscal year.
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 and cold.
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