Under Armour (NYSE:UA) Stock Price Down 4.5% – Here’s What Happened

Under Armour, Inc. (NYSE:UA) shares dropped 4.5% during trading on Wednesday. The company traded as low as $4.76 and last traded at $4.7750. 517,626 shares were traded during trading, a decline of 85% from the average session volume of 3,399,212 shares. The stock had previously closed at $5.00.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Under Armour from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Under Armour has a consensus rating of “Sell” and an average target price of $5.50.

Under Armour Price Performance

The company has a market capitalization of $2.03 billion, a PE ratio of -4.25 and a beta of 1.51. 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 stock has a 50 day moving average price of $4.77 and a two-hundred day moving average price of $5.75.

Hedge Funds Weigh In On Under Armour

A number of hedge funds have recently added to or reduced their stakes in the company. N.F.U. MUTUAL UNIT MANAGERS Ltd acquired a new stake in shares of Under Armour in the 3rd quarter valued at $442,000. Private Advisor Group LLC boosted its stake in shares of Under Armour by 95.3% during the 3rd quarter. Private Advisor Group LLC now owns 47,634 shares of the company’s stock worth $207,000 after acquiring an additional 23,238 shares in the last quarter. Public Sector Pension Investment Board acquired a new position in Under Armour during the third quarter valued at approximately $3,540,000. Maryland State Retirement & Pension System grew its stake in Under Armour by 59.5% in the 3rd quarter. Maryland State Retirement & Pension System now owns 26,993 shares of the company’s stock valued at $117,000 after buying an additional 10,069 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Under Armour by 185.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 17,859 shares of the company’s stock worth $78,000 after acquiring an additional 11,594 shares during the last quarter. Institutional investors and hedge funds own 36.35% of the company’s stock.

About Under Armour

Under Armour, Inc. develops, markets and distributes performance apparel, footwear and accessories for athletes and consumers. Its products include training and running apparel, athletic shoes, sports bras and accessories such as bags and headwear. Founded in 1996 by Kevin Plank, the company is headquartered in Baltimore, Maryland. Under Armour sells its products internationally through wholesale partners, company-operated stores and e-commerce channels.