Under Armour (NYSE:UAA) Trading Down 3.7% After Insider Selling

Under Armour, Inc. (NYSE:UAA)’s stock price dropped 3.7% on Tuesday following insider selling activity. The stock traded as low as $9.43 and last traded at $9.44. Approximately 277,883 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 10,218,207 shares. The stock had previously closed at $9.80.

Specifically, insider Mehri Shadman sold 9,639 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $8.81, for a total transaction of $84,919.59. Following the transaction, the insider now owns 172,899 shares of the company’s stock, valued at approximately $1,523,240.19. This trade represents a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mehri Shadman sold 17,240 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $8.76, for a total transaction of $151,022.40. Following the completion of the sale, the insider now directly owns 182,538 shares of the company’s stock, valued at $1,599,032.88. The trade was a 8.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of research firms have weighed in on UAA. Robert W. Baird increased their price objective on Under Armour from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. TD Cowen lifted their target price on shares of Under Armour from $7.00 to $8.00 and gave the company a “hold” rating in a report on Monday, November 4th. BMO Capital Markets lifted their price target on Under Armour from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Stifel Nicolaus boosted their price objective on shares of Under Armour from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Argus upgraded Under Armour to a “strong-buy” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Under Armour has an average rating of “Hold” and an average target price of $9.03.

Under Armour Stock Down 2.9 %

The stock has a market cap of $3.94 billion, a price-to-earnings ratio of -303.73, a P/E/G ratio of 3.51 and a beta of 1.66. The company has a current ratio of 2.18, a quick ratio of 1.24 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $8.80 and its two-hundred day moving average is $7.69.

Hedge Funds Weigh In On Under Armour

Several institutional investors have recently added to or reduced their stakes in UAA. Russell Investments Group Ltd. raised its holdings in Under Armour by 3,262.0% in the first quarter. Russell Investments Group Ltd. now owns 33,317 shares of the company’s stock valued at $246,000 after buying an additional 32,326 shares during the period. Blair William & Co. IL lifted its position in shares of Under Armour by 40.3% during the first quarter. Blair William & Co. IL now owns 31,158 shares of the company’s stock worth $230,000 after purchasing an additional 8,950 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Under Armour by 1.0% in the first quarter. Vanguard Group Inc. now owns 18,247,340 shares of the company’s stock valued at $134,665,000 after purchasing an additional 173,817 shares during the period. MQS Management LLC acquired a new stake in Under Armour during the 1st quarter valued at $275,000. Finally, Quadrature Capital Ltd acquired a new position in Under Armour in the 1st quarter worth $1,471,000. 34.58% of the stock is currently owned by institutional investors and hedge funds.

Under Armour Company Profile

Under Armour, Inc, together with its subsidiaries, engages developing, marketing, and distributing performance apparel, footwear, and accessories for men, women, and youth. The company provides its apparel in compression, fitted, and loose fit types. It also offers footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications.