Under Armour, Inc. (NYSE:UAA) Sees Significant Decrease in Short Interest

Under Armour, Inc. (NYSE:UAA) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 25,530,000 shares, a decrease of 15.6% from the December 15th total of 30,260,000 shares. Approximately 13.6% of the company’s shares are sold short. Based on an average daily trading volume, of 10,330,000 shares, the short-interest ratio is currently 2.5 days.

Analysts Set New Price Targets

A number of research firms have issued reports on UAA. Barclays lowered their target price on Under Armour from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. Argus downgraded Under Armour from a “buy” rating to a “hold” rating in a report on Thursday. Telsey Advisory Group restated a “market perform” rating and issued a $10.00 target price on shares of Under Armour in a research note on Friday, December 13th. TD Cowen upped their price target on Under Armour from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Friday, December 13th. Finally, Truist Financial lifted their price objective on shares of Under Armour from $8.00 to $11.00 and gave the company a “hold” rating in a report on Friday, November 8th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Under Armour currently has a consensus rating of “Hold” and an average target price of $9.28.

Insider Activity at Under Armour

In other Under Armour news, CFO David Bergman sold 30,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $9.09, for a total value of $272,700.00. Following the completion of the sale, the chief financial officer now directly owns 494,210 shares in the company, valued at $4,492,368.90. This represents a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $84,919.59. Following the sale, the insider now directly owns 172,899 shares in the company, valued at approximately $1,523,240.19. This represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,879 shares of company stock worth $508,642 in the last quarter. Corporate insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Under Armour

A number of large investors have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. boosted its position in Under Armour by 163.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,900 shares of the company’s stock worth $26,000 after purchasing an additional 1,800 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Under Armour during the 3rd quarter worth about $56,000. CWM LLC grew its stake in Under Armour by 20.7% in the 3rd quarter. CWM LLC now owns 8,211 shares of the company’s stock valued at $73,000 after buying an additional 1,409 shares during the last quarter. Versant Capital Management Inc raised its holdings in Under Armour by 63.2% in the 4th quarter. Versant Capital Management Inc now owns 10,037 shares of the company’s stock valued at $83,000 after acquiring an additional 3,885 shares during the period. Finally, City State Bank lifted its position in Under Armour by 292.6% during the third quarter. City State Bank now owns 10,063 shares of the company’s stock worth $90,000 after acquiring an additional 7,500 shares during the last quarter. Institutional investors own 34.58% of the company’s stock.

Under Armour Stock Performance

NYSE UAA traded down $0.04 during trading on Thursday, reaching $8.06. 8,608,449 shares of the company’s stock were exchanged, compared to its average volume of 8,931,995. Under Armour has a fifty-two week low of $6.17 and a fifty-two week high of $11.89. The stock has a market capitalization of $3.49 billion, a P/E ratio of -268.71 and a beta of 1.70. The business has a 50 day moving average price of $9.07 and a 200-day moving average price of $8.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.18 and a quick ratio of 1.24.

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.