Korea Investment CORP purchased a new stake in Under Armour Inc (NYSE:UA) during the 3rd quarter, HoldingsChannel reports. The fund purchased 94,100 shares of the company’s stock, valued at approximately $1,831,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. US Bancorp DE grew its position in shares of Under Armour by 88.4% during the 2nd quarter. US Bancorp DE now owns 8,459 shares of the company’s stock worth $178,000 after purchasing an additional 3,969 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Under Armour during the 3rd quarter worth approximately $184,000. Strs Ohio grew its position in shares of Under Armour by 338.1% during the 2nd quarter. Strs Ohio now owns 9,554 shares of the company’s stock worth $201,000 after purchasing an additional 7,373 shares in the last quarter. Financial Counselors Inc. acquired a new position in shares of Under Armour during the 3rd quarter worth approximately $203,000. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Under Armour during the 2nd quarter worth approximately $218,000. 28.49% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on UA. Piper Jaffray Companies set a $32.00 target price on shares of Under Armour and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley set a $21.00 target price on shares of Under Armour and gave the stock a “hold” rating in a research report on Tuesday, November 27th. Wells Fargo & Co upgraded shares of Under Armour from an “underperform” rating to a “market perform” rating and set a $23.00 price target on the stock in a research report on Friday, November 30th. Cowen set a $21.00 price target on shares of Under Armour and gave the stock a “hold” rating in a research report on Tuesday, October 30th. Finally, Canaccord Genuity set a $13.00 price target on shares of Under Armour and gave the stock a “sell” rating in a research report on Thursday, November 1st. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Under Armour has a consensus rating of “Hold” and a consensus price target of $17.43.
In other news, CFO David Bergman sold 2,500 shares of the firm’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $22.00, for a total transaction of $55,000.00. Following the completion of the transaction, the chief financial officer now owns 157,666 shares of the company’s stock, valued at $3,468,652. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.00% of the stock is currently owned by company insiders.
NYSE UA opened at $22.58 on Friday. The company has a market cap of $9.85 billion, a P/E ratio of 118.84 and a beta of -0.52. Under Armour Inc has a 1 year low of $11.41 and a 1 year high of $23.28.
Under Armour (NYSE:UA) last released its quarterly earnings results on Tuesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.13. The business had revenue of $1.44 billion for the quarter.
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Under Armour Company 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, cold, and in between the extremes.
Further Reading: How mutual funds make money
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