Under Armour (NYSE:UAA) Stock Price Down 4.6% – Here’s What Happened

Under Armour, Inc. (NYSE:UAA) traded down 4.6% on Wednesday. The company traded as low as $4.92 and last traded at $4.9250. Approximately 1,126,263 shares changed hands during trading, a decline of 88% from the average session volume of 9,470,699 shares. The stock had previously closed at $5.16.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Truist Financial boosted their target price on Under Armour from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Telsey Advisory Group reduced their price target on shares of Under Armour from $5.50 to $5.00 and set a “market perform” rating on the stock in a research report on Monday. Weiss Ratings reissued a “sell (d)” rating on shares of Under Armour in a research note on Wednesday, November 4th. UBS Group restated a “buy” rating and issued a $8.00 price objective (down from $9.00) on shares of Under Armour in a report on Wednesday, October 28th. Finally, Morgan Stanley set a $4.00 price objective on shares of Under Armour and gave the company an “equal weight” rating in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Under Armour currently has a consensus rating of “Hold” and an average target price of $5.80.

Under Armour Stock Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.95. The business has a 50 day moving average price of $4.90 and a two-hundred day moving average price of $5.92. The company has a market cap of $2.17 billion, a P/E ratio of -4.54, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58.

Hedge Funds Weigh In On Under Armour

A number of large investors have recently bought and sold shares of UAA. NewEdge Advisors LLC boosted its stake in shares of Under Armour by 9.4% during the first quarter. NewEdge Advisors LLC now owns 23,908 shares of the company’s stock valued at $141,000 after purchasing an additional 2,061 shares during the period. Versant Capital Management Inc increased its stake in shares of Under Armour by 94.1% in the third quarter. Versant Capital Management Inc now owns 6,155 shares of the company’s stock worth $27,000 after buying an additional 2,984 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Under Armour by 20.2% in the first quarter. PNC Financial Services Group Inc. now owns 18,878 shares of the company’s stock worth $112,000 after buying an additional 3,166 shares during the period. Farther Finance Advisors LLC raised its holdings in Under Armour by 134.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 7,061 shares of the company’s stock valued at $31,000 after buying an additional 4,050 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in Under Armour by 31.8% during the 1st quarter. HB Wealth Management LLC now owns 21,042 shares of the company’s stock valued at $124,000 after buying an additional 5,074 shares during the last quarter. 34.58% of the stock is owned by hedge funds and other institutional investors.

About Under Armour

Under Armour, Inc. develops, markets and sells performance apparel, footwear and accessories. Its products are designed for athletic training, competition and everyday use, and include technical apparel, running and training shoes, sports accessories and connected fitness offerings. Founded in 1996 by Kevin Plank, the company built its early business around moisture-wicking performance apparel. Under Armour sells products through wholesale partners and its own direct-to-consumer channels, including retail stores and e-commerce.