Bares Capital Management Inc. Increases Position in Under Armour (UA)

Bares Capital Management Inc. lifted its position in Under Armour (NYSE:UA) by 0.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,290,316 shares of the company’s stock after purchasing an additional 17,488 shares during the period. Under Armour accounts for about 4.6% of Bares Capital Management Inc.’s investment portfolio, making the stock its 13th biggest position. Bares Capital Management Inc. owned approximately 1.87% of Under Armour worth $118,966,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of Under Armour in the fourth quarter valued at approximately $127,000. CIBC World Markets Inc. purchased a new stake in shares of Under Armour in the fourth quarter valued at approximately $157,000. MML Investors Services LLC purchased a new stake in shares of Under Armour in the fourth quarter valued at approximately $170,000. Mengis Capital Management Inc. purchased a new stake in shares of Under Armour in the fourth quarter valued at approximately $170,000. Finally, Stearns Financial Services Group purchased a new stake in shares of Under Armour in the first quarter valued at approximately $193,000. Hedge funds and other institutional investors own 32.36% of the company’s stock.

In other news, Director William R. Mcdermott sold 6,349 shares of the stock in a transaction on Monday, May 7th. The stock was sold at an average price of $16.08, for a total transaction of $102,091.92. Following the completion of the sale, the director now owns 68,221 shares in the company, valued at approximately $1,096,993.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kerry D. Chandler sold 19,643 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $15.09, for a total value of $296,412.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,364 shares of company stock valued at $1,068,255. Company insiders own 16.00% of the company’s stock.

Shares of UA opened at $18.00 on Friday. Under Armour has a 12 month low of $10.36 and a 12 month high of $21.81. The firm has a market cap of $7.93 billion, a PE ratio of 93.89 and a beta of -0.76.

A number of analysts have weighed in on UA shares. Vetr upgraded Under Armour from a “buy” rating to a “strong-buy” rating and set a $14.80 target price for the company in a report on Monday, January 29th. Pivotal Research set a $14.00 target price on Under Armour and gave the stock a “hold” rating in a report on Monday, February 12th. Canaccord Genuity set a $9.00 target price on Under Armour and gave the stock a “sell” rating in a report on Friday, March 16th. Deutsche Bank upgraded Under Armour to a “hold” rating and set a $16.00 target price for the company in a report on Monday, April 23rd. Finally, Raymond James restated a “sell” rating on shares of Under Armour in a report on Tuesday, February 13th. Eleven investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. Under Armour currently has an average rating of “Hold” and a consensus price target of $14.16.

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, cold, and in between the extremes.

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

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