Under Armour (NYSE:UAA) saw a significant increase in short interest in March. As of March 29th, there was short interest totalling 67,660,377 shares, an increase of 8.5% from the March 15th total of 62,383,303 shares. Based on an average trading volume of 5,298,844 shares, the short-interest ratio is presently 12.8 days. Currently, 36.7% of the company’s stock are short sold.
In other Under Armour news, insider Kerry D. Chandler sold 2,534 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.79, for a total value of $42,545.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 16.40% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hexavest Inc. purchased a new position in Under Armour in the fourth quarter valued at $39,368,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Under Armour during the fourth quarter worth about $25,742,000. California Public Employees Retirement System purchased a new stake in shares of Under Armour during the third quarter worth about $2,695,000. Creative Planning increased its stake in shares of Under Armour by 15.2% during the fourth quarter. Creative Planning now owns 73,846 shares of the company’s stock worth $1,066,000 after purchasing an additional 9,717 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Under Armour by 6.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,123,802 shares of the company’s stock worth $16,217,000 after purchasing an additional 72,296 shares in the last quarter. 33.71% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on UAA shares. Vetr upgraded shares of Under Armour from a “strong sell” rating to a “sell” rating and set a $13.90 price objective for the company in a research note on Thursday, December 28th. Macquarie downgraded shares of Under Armour from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $10.00 to $8.00 in a research note on Tuesday, January 16th. ValuEngine downgraded shares of Under Armour from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Zacks Investment Research upgraded shares of Under Armour from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Finally, Citigroup lowered their price objective on shares of Under Armour from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, February 5th. Eighteen analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Under Armour presently has a consensus rating of “Hold” and an average target price of $14.96.
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About Under Armour
Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot, cold, and in between the extremes.
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