Contrarius Investment Management Ltd Boosts Stake in Under Armour, Inc. (UA)
Contrarius Investment Management Ltd increased its position in Under Armour, Inc. (NYSE:UA) by 61.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,410,598 shares of the company’s stock after purchasing an additional 534,784 shares during the period. Under Armour accounts for about 1.2% of Contrarius Investment Management Ltd’s holdings, making the stock its 22nd biggest holding. Contrarius Investment Management Ltd owned 0.32% of Under Armour worth $21,187,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its holdings in shares of Under Armour by 13.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 152,794 shares of the company’s stock valued at $2,295,000 after purchasing an additional 18,310 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Under Armour by 143.2% in the 3rd quarter. SG Americas Securities LLC now owns 385,531 shares of the company’s stock valued at $5,791,000 after purchasing an additional 227,032 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Under Armour in the 3rd quarter valued at about $399,000. Massey Quick Simon & CO. LLC acquired a new position in Under Armour in the 3rd quarter valued at about $139,000. Finally, Toronto Dominion Bank increased its position in Under Armour by 13.1% in the 3rd quarter. Toronto Dominion Bank now owns 70,685 shares of the company’s stock valued at $1,061,000 after acquiring an additional 8,203 shares during the period. 30.10% of the stock is owned by institutional investors and hedge funds.
Under Armour, Inc. (UA) traded up $0.17 during midday trading on Friday, reaching $11.28. The company’s stock had a trading volume of 3,843,700 shares, compared to its average volume of 4,512,023. Under Armour, Inc. has a 52 week low of $10.36 and a 52 week high of $29.53. The firm has a market cap of $4,898.62, a PE ratio of 27.10 and a beta of 0.70.
UA has been the topic of several recent research reports. Jefferies Group LLC restated a “buy” rating and issued a $28.00 price target on shares of Under Armour in a research report on Thursday, September 7th. Vetr cut Under Armour from a “strong-buy” rating to a “buy” rating and set a $18.79 price target on the stock. in a research report on Wednesday, September 13th. SunTrust Banks, Inc. cut Under Armour from a “buy” rating to a “hold” rating and set a $14.00 price target on the stock. in a research report on Wednesday, November 1st. Wells Fargo & Company cut Under Armour from a “market perform” rating to a “sell” rating and dropped their price target for the company from $17.00 to $13.00 in a research report on Tuesday, September 19th. Finally, Sanford C. Bernstein initiated coverage on Under Armour in a research report on Tuesday, September 12th. They issued an “underperform” rating and a $14.00 price target on the stock. Eight analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. Under Armour presently has a consensus rating of “Hold” and an average price target of $16.49.
Under Armour Profile
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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