Under Armour (NYSE:UAA) Stock Falls 4.6% – Time to Sell?

Under Armour, Inc. (NYSE:UAA)’s share price was down 4.6% on Wednesday. The stock traded as low as $4.92 and last traded at $4.9250. Approximately 1,126,263 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 9,470,699 shares. The stock had previously closed at $5.16.

Analysts Set New Price Targets

Several brokerages have issued reports on UAA. Telsey Advisory Group cut their price objective on Under Armour from $5.50 to $5.00 and set a “market perform” rating on the stock in a research note on Monday. Truist Financial lifted their target price on Under Armour from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Morgan Stanley set a $4.00 target price on Under Armour and gave the stock an “equal weight” rating in a research report on Thursday, September 10th. UBS Group reiterated a “buy” rating and issued a $8.00 price target (down from $9.00) on shares of Under Armour in a report on Wednesday, October 28th. Finally, Barclays lowered Under Armour from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.80.

Under Armour Stock Performance

The company has a quick ratio of 1.01, a current ratio of 1.95 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $4.90 and a 200 day simple moving average of $5.91. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -4.41, a P/E/G ratio of 1.97 and a beta of 1.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UAA. Bleakley Financial Group LLC increased its position in Under Armour by 19.4% in the third quarter. Bleakley Financial Group LLC now owns 725,257 shares of the company’s stock worth $3,235,000 after buying an additional 117,953 shares during the period. Group One Trading LLC acquired a new position in shares of Under Armour during the third quarter valued at $9,310,000. Voya Investment Management LLC acquired a new position in shares of Under Armour during the third quarter valued at $173,000. Public Sector Pension Investment Board grew its position in shares of Under Armour by 13.2% during the third quarter. Public Sector Pension Investment Board now owns 1,198,296 shares of the company’s stock worth $5,872,000 after acquiring an additional 139,739 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of Under Armour by 302.3% during the third quarter. Global Retirement Partners LLC now owns 10,319 shares of the company’s stock worth $46,000 after acquiring an additional 7,754 shares during the last quarter. Institutional investors and hedge funds own 34.58% of the company’s stock.

Under Armour Company Profile

Under Armour, Inc. develops, markets and sells performance apparel, footwear and accessories. Its products are designed for athletic training, competition and everyday use, and include technical apparel, running and training shoes, sports accessories and connected fitness offerings. Founded in 1996 by Kevin Plank, the company built its early business around moisture-wicking performance apparel. Under Armour sells products through wholesale partners and its own direct-to-consumer channels, including retail stores and e-commerce.