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

Under Armour, Inc. (NYSE:UAA) was down 3.7% during trading on Tuesday following insider selling activity. The stock traded as low as $9.43 and last traded at $9.44. Approximately 277,883 shares changed 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 Under Armour stock in a transaction on Monday, November 18th. The shares were sold at an average price of $8.81, for a total transaction of $84,919.59. Following the completion of the transaction, the insider now directly owns 172,899 shares of the company’s stock, valued at $1,523,240.19. The trade was a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction, the insider now owns 182,538 shares in the company, 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.

Analyst Ratings Changes

A number of brokerages recently weighed in on UAA. TD Cowen lifted their price target on shares of Under Armour from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Stifel Nicolaus raised their target price on Under Armour from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Wedbush boosted their price target on Under Armour from $8.00 to $8.50 and gave the company an “outperform” rating in a research note on Friday, August 9th. Telsey Advisory Group restated a “market perform” rating and issued a $8.00 price objective on shares of Under Armour in a research note on Monday, November 4th. Finally, Truist Financial upped their target price on Under Armour from $8.00 to $11.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Under Armour currently has an average rating of “Hold” and an average price target of $9.03.

Under Armour Trading Down 2.9 %

The stock has a market capitalization 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 50 day moving average of $8.80 and a 200 day moving average of $7.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.24 and a current ratio of 2.18.

Hedge Funds Weigh In On Under Armour

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UAA. Nomura Asset Management Co. Ltd. boosted its holdings in Under Armour by 163.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,900 shares of the company’s stock valued at $26,000 after purchasing an additional 1,800 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Under Armour in the 3rd quarter valued at $56,000. CWM LLC grew its holdings in shares of Under Armour by 20.7% during the 3rd quarter. CWM LLC now owns 8,211 shares of the company’s stock worth $73,000 after purchasing an additional 1,409 shares during the period. City State Bank increased its position in shares of Under Armour by 292.6% during the 3rd quarter. City State Bank now owns 10,063 shares of the company’s stock worth $90,000 after purchasing an additional 7,500 shares during the last quarter. Finally, Baker Avenue Asset Management LP purchased a new stake in Under Armour in the 3rd quarter valued at about $92,000. Institutional investors and hedge funds own 34.58% of the company’s stock.

About Under Armour

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.