Covenant Asset Management LLC Sells 11,190 Shares of Under Armour Inc (UAA)
Covenant Asset Management LLC reduced its holdings in shares of Under Armour Inc (NYSE:UAA) by 31.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,064 shares of the company’s stock after selling 11,190 shares during the period. Covenant Asset Management LLC’s holdings in Under Armour were worth $347,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of UAA. D.A. Davidson & CO. purchased a new stake in shares of Under Armour during the second quarter valued at approximately $118,000. WFG Advisors LP purchased a new stake in shares of Under Armour during the second quarter valued at approximately $132,000. Northwestern Mutual Investment Management Company LLC purchased a new stake in shares of Under Armour during the second quarter valued at approximately $280,000. Nordea Investment Management AB purchased a new stake in shares of Under Armour during the second quarter valued at approximately $156,000. Finally, Pacer Advisors Inc. purchased a new stake in shares of Under Armour during the second quarter valued at approximately $164,000. Institutional investors and hedge funds own 30.98% of the company’s stock.
Shares of Under Armour Inc (NYSE:UAA) traded down $0.18 during mid-day trading on Friday, reaching $15.12. The company had a trading volume of 4,620,000 shares, compared to its average volume of 5,710,000. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.23 and a quick ratio of 1.16. The stock has a market capitalization of $6,410.00, a price-to-earnings ratio of 47.25, a price-to-earnings-growth ratio of 4.15 and a beta of 0.04. Under Armour Inc has a 12 month low of $11.40 and a 12 month high of $30.59.
Under Armour (NYSE:UAA) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Under Armour had a return on equity of 9.32% and a net margin of 2.94%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. research analysts predict that Under Armour Inc will post 0.2 EPS for the current year.
A number of analysts have recently weighed in on UAA shares. Stifel Nicolaus raised Under Armour from a “hold” rating to a “buy” rating and increased their price objective for the company from $12.00 to $17.00 in a research note on Friday, December 15th. Wedbush reissued a “neutral” rating and set a $11.00 price objective (down previously from $17.00) on shares of Under Armour in a research note on Wednesday, November 1st. Canaccord Genuity reissued a “hold” rating and set a $15.00 price objective (down previously from $18.00) on shares of Under Armour in a research note on Thursday, October 12th. Wells Fargo & Co lowered Under Armour from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $17.00 to $13.00 in a research note on Tuesday, September 19th. Finally, Sanford C. Bernstein reissued an “underperform” rating and set a $9.00 price objective (down previously from $14.00) on shares of Under Armour in a research note on Wednesday, November 1st. Seventeen investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.09.
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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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