MQS Management LLC Buys Shares of 37,330 Under Armour, Inc. (NYSE:UAA)

MQS Management LLC bought a new stake in Under Armour, Inc. (NYSE:UAA) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 37,330 shares of the company’s stock, valued at approximately $275,000.

Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Under Armour by 29.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,154,871 shares of the company’s stock valued at $62,893,000 after buying an additional 1,636,634 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Under Armour by 7.5% in the third quarter. Vanguard Group Inc. now owns 18,196,402 shares of the company’s stock valued at $124,645,000 after buying an additional 1,269,037 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Under Armour in the first quarter valued at approximately $8,944,000. Norges Bank acquired a new position in shares of Under Armour in the fourth quarter valued at approximately $10,348,000. Finally, OPTIMAS CAPITAL Ltd acquired a new position in shares of Under Armour in the fourth quarter valued at approximately $3,158,000. Institutional investors own 34.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. cut shares of Under Armour from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $8.00 to $6.00 in a report on Thursday, May 16th. Truist Financial reduced their target price on shares of Under Armour from $8.00 to $7.00 and set a “hold” rating for the company in a report on Friday, May 17th. William Blair cut shares of Under Armour from an “outperform” rating to a “market perform” rating in a report on Thursday, May 16th. Citigroup cut their price target on shares of Under Armour from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Finally, Evercore ISI cut their price target on shares of Under Armour from $7.00 to $6.00 and set an “underperform” rating for the company in a research note on Friday, May 17th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.04.

Under Armour Stock Performance

NYSE:UAA traded up $0.05 during mid-day trading on Friday, reaching $6.82. 646,529 shares of the company’s stock were exchanged, compared to its average volume of 8,298,878. Under Armour, Inc. has a one year low of $6.18 and a one year high of $9.50. The firm has a market capitalization of $2.98 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 3.37 and a beta of 1.67. The business’s fifty day simple moving average is $6.79 and its two-hundred day simple moving average is $7.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 2.46.

Under Armour (NYSE:UAA) last released its quarterly earnings results on Thursday, May 16th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Under Armour had a net margin of 4.19% and a return on equity of 11.95%. Under Armour’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.18 earnings per share. Analysts anticipate that Under Armour, Inc. will post 0.2 earnings per share for the current fiscal year.

Under Armour announced that its Board of Directors has initiated a share repurchase program on Thursday, May 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 16.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Under Armour Profile

Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes 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.