National Asset Management Inc. Purchases New Position in Under Armour, Inc. (UAA)
National Asset Management Inc. purchased a new position in shares of Under Armour, Inc. (NYSE:UAA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,613 shares of the company’s stock, valued at approximately $210,000.
Other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. purchased a new position in shares of Under Armour during the 2nd quarter worth $118,000. Cornerstone Advisors Inc. purchased a new position in shares of Under Armour during the 2nd quarter worth $124,000. Municipal Employees Retirement System of Michigan purchased a new position in shares of Under Armour during the 2nd quarter worth $129,000. Global X Management Co. LLC purchased a new position in shares of Under Armour during the 2nd quarter worth $134,000. Finally, Armor Investment Advisors LLC purchased a new position in shares of Under Armour during the 2nd quarter worth $134,000. 30.45% of the stock is currently owned by institutional investors.
Under Armour (NYSE:UAA) last issued its earnings results on Tuesday, August 1st. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03. Under Armour had a net margin of 4.38% and a return on equity of 10.93%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. Under Armour’s revenue for the quarter was up 8.7% on a year-over-year basis.
UAA has been the topic of a number of recent analyst reports. Vetr lowered Under Armour from a “hold” rating to a “sell” rating and set a $16.78 price target on the stock. in a research note on Thursday, September 7th. Deutsche Bank AG downgraded Under Armour from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $20.27 to $17.00 in a report on Tuesday, July 25th. Zacks Investment Research downgraded Under Armour from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Stifel Nicolaus restated a “hold” rating and set a $18.00 price objective on shares of Under Armour in a report on Thursday, August 24th. Finally, Buckingham Research restated an “underperform” rating and set a $15.00 price objective on shares of Under Armour in a report on Thursday, July 27th. Fourteen analysts have rated the stock with a sell rating, twenty-two have given a hold rating and five have assigned a buy rating to the stock. Under Armour presently has an average rating of “Hold” and an average price target of $19.68.
About Under Armour
Under Armour, Inc is engaged in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. The Company’s segments include North America, consisting of the United States and Canada; Europe, the Middle East and Africa (EMEA); Asia-Pacific; Latin America, and Connected Fitness.
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