The Manufacturers Life Insurance Company purchased a new stake in shares of Under Armour, Inc. (NYSE:UAA) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,060,393 shares of the company’s stock, valued at approximately $23,074,000. The Manufacturers Life Insurance Company owned approximately 0.24% of Under Armour at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. D.A. Davidson & CO. purchased a new position in shares of Under Armour during the second quarter valued at $118,000. Cornerstone Advisors Inc. purchased a new position in shares of Under Armour during the second quarter valued at $124,000. Municipal Employees Retirement System of Michigan purchased a new position in shares of Under Armour during the second quarter valued at $129,000. Global X Management Co. LLC purchased a new position in shares of Under Armour during the second quarter valued at $134,000. Finally, Armor Investment Advisors LLC purchased a new position in shares of Under Armour during the second quarter valued at $134,000. Institutional investors and hedge funds own 30.45% of the company’s stock.

UAA has been the topic of a number of research analyst reports. Vetr downgraded Under Armour from a “hold” rating to a “sell” rating and set a $16.78 price target on the stock. in a report on Thursday, September 7th. Deutsche Bank AG downgraded Under Armour from a “hold” rating to a “sell” rating and lowered their price target for the company 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 issued a $18.00 target price on shares of Under Armour in a research note on Thursday, August 24th. Finally, Buckingham Research restated an “underperform” rating and issued a $15.00 target price on shares of Under Armour in a research note on Thursday, July 27th. Fourteen equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $19.68.

Shares of Under Armour, Inc. (NYSE:UAA) opened at 16.19 on Monday. Under Armour, Inc. has a 1-year low of $15.92 and a 1-year high of $39.20. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 32.77 and a beta of -0.02. The stock has a 50 day moving average price of $16.82 and a 200 day moving average price of $19.16.

Under Armour (NYSE:UAA) last released its quarterly earnings results on Tuesday, August 1st. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. Under Armour had a net margin of 4.38% and a return on equity of 10.93%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. The firm’s revenue was up 8.7% on a year-over-year basis. Analysts forecast that Under Armour, Inc. will post $0.37 earnings per share for the current year.

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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.

Institutional Ownership by Quarter for Under Armour (NYSE:UAA)

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