Wellington Management Co. LLP recently announced the acquisition of new stake in Under Armour Inc. (NYSE:UA). The institutional investor has increased its shareholding in the Consumer Cyclical company by 29.90% to 28.99 million shares with purchase of 6.67 million shares. This fresh investment now brings its stake to 12.54% valued currently at $275.1 million. In addition, The Vanguard Group, Inc. raised its holdings by 1.12 million to 22.82 million shares. And Adage Capital Management LP has lifted its position by 39.15% or 4.15 million shares – to 14.73 million shares.
With over 4.12 million Under Armour Inc. (UA) shares trading Tuesday and a closing price of $9.11 on the day, the dollar volume was approximately $37.51 million. The shares have shown a negative weekly performance of -1.30% and its price on 08/25/20 lost nearly -0.87%. Currently, there are 451.83M common shares owned by the public and among those 357.14M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 33 analysts who have offered their price forecasts for UA have a consensus price objective of $10.33. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Under Armour Inc. stock is 3.00 for the next 12 months. The average price target is 32.52% above its last price level and an upside to the estimated low will see the stock lose -82.2% over that period. But an upside of 43.06% will see the stock hit the forecast high price target while mean target price for the stock is $10.00.
Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 18,000 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 8,569 shares.
The top 3 mutual fund holders in Under Armour Inc. are Hartford Mid Cap Fund, Vanguard Total Stock Market Index, and Vanguard Explorer Fund. Hartford Mid Cap Fund owns 5.9 million shares of the company’s stock, all valued at over $56.03 million. Vanguard Total Stock Market Index bought 1791.0 shares to see its total holdings expand to 5.55 million shares valued at over $52.72 million and representing 2.40% of the shares outstanding. Vanguard Explorer Fund bought 1.04 million shares to bring its total holdings to over 4.31 million shares at a value of $40.89 million. Vanguard Explorer Fund now owns shares totaling to 1.86% of the shares outstanding.
Shares of Under Armour Inc. (NYSE: UA) opened at $9.27, up $0.08 from a prior closing price of $9.19. However, the script later closed the day at $9.11, down -0.87%. The company’s stock has a 5-day price change of -1.30% and 7.05% over the past three months. UA shares are trading -52.50% year to date (YTD), with the 12-month market performance down to -44.14% lower. It has a 12-month low price of $6.37 and touched a high of $19.65 over the same period. Currently, 4.12 million shares have been traded, compared to an average intraday trading volume of 7.45 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.23%, -0.01%, and -24.53% respectively.
Institutional ownership of Under Armour Inc. (NYSE: UA) shares accounts for 74.44% of the company’s 451.83M shares outstanding. Mutual fund holders own 34.34%, while other institutional holders and individual stakeholders account for 36.67% and 17.44% respectively.
It has a market capitalization of $4.12B. The earnings-per-share (ttm) stands at -$1.52. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.53% over the week and 4.65% over the month.
Analysts forecast that Under Armour Inc. (UA) will achieve an EPS of $0.05 for the current quarter, -$0.13 for the next quarter and $0.15 for 2021. The lowest estimate earnings-per-share for the quarter is $0.05 while analysts give the company a high EPS estimate of $0.05. Comparatively, EPS for the current quarter was $0.23 a year ago. Earnings per share for the fiscal year are expected to decrease by -314.70%, and 120.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 33 brokerage firm advisors rate Under Armour Inc. (UA) as a “Hold” at a consensus score of 3.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 25 of the 33 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the UA, a number of firms have released research notes about the stock. Instinet stated their Reduce rating for the stock in a research note on February 27, 2017, with the firm’s price target at. Morgan Stanley coverage for the Under Armour Inc. (UA) stock in a research note released on February 14, 2017 offered a Equal-Weight rating with a price target of. Stifel was of a view on November 28, 2016 that the stock is Hold, while Telsey Advisory Group gave the stock Market Perform rating on October 26, 2016, issuing a price target of $49- $35. Mizuho on their part issued Neutral rating on October 26, 2016.