Under Armour, Inc. (NYSE:UA – Get Free Report)’s stock price was down 6.2% during mid-day trading on Wednesday . The company traded as low as $7.54 and last traded at $7.57. Approximately 1,497,206 shares traded hands during trading, a decline of 52% from the average daily volume of 3,098,501 shares. The stock had previously closed at $8.07.
Wall Street Analysts Forecast Growth
Separately, Stifel Nicolaus dropped their price objective on Under Armour from $10.00 to $9.00 and set a “buy” rating for the company in a report on Monday, June 24th.
Under Armour Trading Down 0.1 %
Institutional Trading of Under Armour
A number of hedge funds have recently added to or reduced their stakes in the stock. BDT Capital Partners LLC boosted its position in Under Armour by 22.6% during the fourth quarter. BDT Capital Partners LLC now owns 42,953,937 shares of the company’s stock valued at $358,665,000 after acquiring an additional 7,919,165 shares during the last quarter. Norges Bank acquired a new stake in Under Armour during the fourth quarter worth approximately $19,686,000. Dimensional Fund Advisors LP increased its holdings in Under Armour by 28.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,206,551 shares of the company’s stock worth $76,877,000 after purchasing an additional 2,065,273 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Under Armour by 14.2% during the 2nd quarter. Victory Capital Management Inc. now owns 6,059,071 shares of the company’s stock worth $39,566,000 after buying an additional 752,018 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in Under Armour in the 2nd quarter valued at about $4,579,000. Institutional investors and hedge funds own 36.35% of the company’s stock.
Under Armour Company 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.
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