Marcum Wealth LLC Buys 12,987 Shares of Under Armour, Inc. (NYSE:UAA)

Marcum Wealth LLC grew its position in Under Armour, Inc. (NYSE:UAA) by 63.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,298 shares of the company’s stock after acquiring an additional 12,987 shares during the period. Marcum Wealth LLC’s holdings in Under Armour were worth $246,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Under Armour by 7.5% during the 3rd quarter. Vanguard Group Inc. now owns 18,196,402 shares of the company’s stock valued at $124,645,000 after purchasing an additional 1,269,037 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Under Armour by 29.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,154,871 shares of the company’s stock worth $62,893,000 after acquiring an additional 1,636,634 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Under Armour by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,147,411 shares of the company’s stock valued at $36,456,000 after buying an additional 203,666 shares during the last quarter. Glenmede Trust Co. NA acquired a new stake in shares of Under Armour in the third quarter valued at about $10,741,000. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Under Armour by 24.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,357,200 shares of the company’s stock worth $9,297,000 after purchasing an additional 265,100 shares in the last quarter. Institutional investors own 34.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Under Armour from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, May 17th. BNP Paribas reiterated a “neutral” rating on shares of Under Armour in a research note on Thursday, March 14th. JPMorgan Chase & Co. downgraded shares of Under Armour from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $8.00 to $6.00 in a research report on Thursday, May 16th. Truist Financial reduced their price target on Under Armour from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Friday, May 17th. Finally, Evercore ISI decreased their price objective on shares of Under Armour from $7.00 to $6.00 and set an “underperform” rating for the company in a research report on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Under Armour has an average rating of “Hold” and an average price target of $7.32.

Under Armour Price Performance

Under Armour stock opened at $6.99 on Friday. Under Armour, Inc. has a 1-year low of $6.18 and a 1-year high of $9.50. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 3.54 and a beta of 1.69. The company has a current ratio of 2.46, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28. The firm’s fifty day moving average price is $6.80 and its two-hundred day moving average price is $7.58.

Under Armour (NYSE:UAA) last posted its quarterly earnings data on Thursday, May 16th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Under Armour had a net margin of 4.19% and a return on equity of 11.95%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm earned $0.18 EPS. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities research analysts predict that Under Armour, Inc. will post 0.2 earnings per share for the current fiscal year.

Under Armour declared that its Board of Directors has authorized a share buyback program on Thursday, May 16th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 16.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Under Armour Profile

Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes performance apparel, footwear, and accessories for men, women, and youth. The company provides its apparel in compression, fitted, and loose fit types. It also offers footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications.