State of New Jersey Common Pension Fund D boosted its stake in Under Armour, Inc. (NYSE:UA) by 66.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,500,000 shares of the company’s stock after acquiring an additional 600,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.34% of Under Armour worth $22,530,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of UA. Harris Associates L P acquired a new position in Under Armour in the 2nd quarter valued at about $22,967,000. American Century Companies Inc. acquired a new position in Under Armour in the 2nd quarter valued at about $19,429,000. Contrarius Investment Management Ltd acquired a new position in Under Armour in the 2nd quarter valued at about $17,656,000. Bank of Nova Scotia increased its position in Under Armour by 113.5% in the 2nd quarter. Bank of Nova Scotia now owns 849,264 shares of the company’s stock valued at $17,121,000 after acquiring an additional 451,485 shares during the period. Finally, CQS Cayman LP increased its position in Under Armour by 696.2% in the 2nd quarter. CQS Cayman LP now owns 505,449 shares of the company’s stock valued at $10,190,000 after acquiring an additional 441,970 shares during the period. Hedge funds and other institutional investors own 30.27% of the company’s stock.
Several research firms have issued reports on UA. Vetr upgraded Under Armour from a “sell” rating to a “hold” rating and set a $19.26 target price on the stock in a research report on Thursday, July 6th. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Under Armour in a research report on Friday, July 7th. BidaskClub cut Under Armour from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Deutsche Bank AG cut Under Armour from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Buckingham Research set a $15.00 target price on Under Armour and gave the stock a “sell” rating in a research report on Thursday, July 27th. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $17.99.
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Shares of Under Armour, Inc. (UA) opened at 14.40 on Monday. The firm has a market cap of $6.35 billion, a PE ratio of 29.15 and a beta of 1.15. Under Armour, Inc. has a 12-month low of $14.29 and a 12-month high of $29.53. The company has a 50 day moving average price of $15.37 and a 200-day moving average price of $17.42.
Under Armour (NYSE:UA) last released its quarterly earnings results on Tuesday, August 1st. The company reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.04. Under Armour had a return on equity of 11.06% and a net margin of 4.38%. The company had revenue of $1.09 billion for the quarter. Analysts expect that Under Armour, Inc. will post $0.37 EPS for the current year.
About Under Armour
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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