Under Armour (NYSE:UA) Shares Down 5.8% – Here’s Why

Under Armour, Inc. (NYSE:UA) shares dropped 5.8% during mid-day trading on Thursday . The company traded as low as $8.65 and last traded at $8.65. Approximately 1,633,841 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 3,264,852 shares. The stock had previously closed at $9.18.

Under Armour Trading Down 8.0 %

The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -200.13 and a beta of 1.66. The company has a quick ratio of 1.24, a current ratio of 2.18 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $8.52 and a 200 day moving average price of $7.59.

Insider Activity

In related news, CFO David Bergman sold 30,000 shares of the business’s stock in a transaction that occurred on 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 owns 494,210 shares of the company’s stock, valued at approximately $4,492,368.90. The trade was a 5.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mehri Shadman sold 17,240 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 182,538 shares in the company, valued at $1,599,032.88. This represents a 8.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,879 shares of company stock worth $508,642 in the last 90 days. Company insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BDT Capital Partners LLC boosted its position in Under Armour by 0.3% during the third quarter. BDT Capital Partners LLC now owns 60,000,000 shares of the company’s stock worth $501,600,000 after purchasing an additional 161,901 shares during the period. BNP Paribas Financial Markets grew its stake in Under Armour by 781.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 125,230 shares of the company’s stock valued at $1,047,000 after buying an additional 111,027 shares during the last quarter. XTX Topco Ltd raised its holdings in Under Armour by 307.5% in the 3rd quarter. XTX Topco Ltd now owns 108,788 shares of the company’s stock worth $909,000 after acquiring an additional 82,089 shares during the period. Verition Fund Management LLC acquired a new position in Under Armour during the 3rd quarter worth $2,594,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Under Armour by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 11,089,780 shares of the company’s stock valued at $72,415,000 after acquiring an additional 795,803 shares during the period. Institutional investors and hedge funds own 36.35% of the company’s stock.

About Under Armour

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.