Investors Buy Large Volume of Under Armour Put Options (NYSE:UAA)

Under Armour, Inc. (NYSE:UAA) was the target of some unusual options trading activity on Monday. Traders purchased 13,104 put options on the stock. This represents an increase of approximately 78% compared to the average volume of 7,382 put options.

Under Armour Price Performance

NYSE:UAA traded down $0.04 on Monday, reaching $6.27. 8,206,126 shares of the company’s stock traded hands, compared to its average volume of 11,173,889. The stock has a 50-day simple moving average of $7.26 and a 200-day simple moving average of $8.30. Under Armour has a 12 month low of $6.11 and a 12 month high of $11.89. The firm has a market cap of $2.69 billion, a PE ratio of -21.60 and a beta of 1.63. The company has a quick ratio of 1.19, a current ratio of 2.01 and a debt-to-equity ratio of 0.30.

Under Armour (NYSE:UAA) last issued its earnings results on Thursday, February 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.05. Under Armour had a positive return on equity of 11.03% and a negative net margin of 2.39%. During the same quarter in the prior year, the firm posted $0.19 EPS. Equities research analysts forecast that Under Armour will post 0.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on UAA. StockNews.com upgraded shares of Under Armour from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th. Barclays cut their target price on shares of Under Armour from $11.00 to $8.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. UBS Group lowered their price target on Under Armour from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Evercore ISI cut their price objective on Under Armour from $8.00 to $7.00 and set an “underperform” rating for the company in a report on Monday, February 10th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $10.00 target price on shares of Under Armour in a research report on Thursday, February 6th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Under Armour currently has an average rating of “Hold” and a consensus price target of $9.06.

Hedge Funds Weigh In On Under Armour

Hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in Under Armour by 144,746.6% in the 3rd quarter. FMR LLC now owns 9,659,823 shares of the company’s stock worth $86,069,000 after purchasing an additional 9,653,154 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Under Armour by 48.1% in the third quarter. BNP Paribas Financial Markets now owns 613,917 shares of the company’s stock worth $5,470,000 after purchasing an additional 199,348 shares during the last quarter. Townsquare Capital LLC purchased a new stake in shares of Under Armour in the third quarter worth about $103,000. Rockefeller Capital Management L.P. boosted its stake in Under Armour by 8.9% during the third quarter. Rockefeller Capital Management L.P. now owns 115,447 shares of the company’s stock valued at $1,029,000 after buying an additional 9,439 shares during the last quarter. Finally, Verition Fund Management LLC grew its holdings in Under Armour by 27.2% during the 3rd quarter. Verition Fund Management LLC now owns 1,258,342 shares of the company’s stock valued at $11,212,000 after buying an additional 269,281 shares in the last quarter. Hedge funds and other institutional investors own 34.58% of the company’s stock.

Under Armour Company Profile

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.