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

Under Armour, Inc. (NYSE:UAA)’s share 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 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 stock in a transaction on Monday, November 18th. The stock was sold at an average price of $8.81, for a total transaction of $84,919.59. Following the completion of the sale, the insider now owns 172,899 shares in the company, valued at approximately $1,523,240.19. This represents a 5.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mehri Shadman sold 17,240 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $8.76, for a total value of $151,022.40. Following the sale, the insider now directly owns 182,538 shares in the company, valued at $1,599,032.88. This trade represents a 8.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UAA. Truist Financial boosted their price objective on Under Armour from $8.00 to $11.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Argus raised Under Armour to a “strong-buy” rating in a research report on Thursday, August 15th. TD Cowen increased their price objective on Under Armour from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Barclays upped their target price on Under Armour from $8.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Stifel Nicolaus upped their price objective on shares of Under Armour from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.03.

Under Armour Stock Down 2.9 %

The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of -303.73, a price-to-earnings-growth ratio of 3.51 and a beta of 1.66. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.24 and a current ratio of 2.18. The business’s 50 day moving average is $8.80 and its 200-day moving average is $7.69.

Hedge Funds Weigh In On Under Armour

Several large investors have recently made changes to their positions in UAA. Russell Investments Group Ltd. raised its position in shares of Under Armour by 3,262.0% during 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 last quarter. Blair William & Co. IL grew its holdings in shares of Under Armour by 40.3% during the 1st 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. raised 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 in the last quarter. MQS Management LLC bought a new position in Under Armour in the first quarter worth $275,000. Finally, Quadrature Capital Ltd acquired a new stake in Under Armour during the first quarter worth $1,471,000. 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.