Texas Permanent School Fund Corp Reduces Stake in Under Armour, Inc. (NYSE:UAA)

Texas Permanent School Fund Corp reduced its holdings in Under Armour, Inc. (NYSE:UAA) by 8.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 151,275 shares of the company’s stock after selling 13,485 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Under Armour were worth $1,009,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in UAA. Hexagon Capital Partners LLC boosted its holdings in Under Armour by 101.1% in the first quarter. Hexagon Capital Partners LLC now owns 3,760 shares of the company’s stock valued at $28,000 after acquiring an additional 1,890 shares in the last quarter. Optas LLC bought a new stake in shares of Under Armour during the 2nd quarter valued at about $72,000. Koss Olinger Consulting LLC bought a new stake in shares of Under Armour during the 2nd quarter valued at about $79,000. KG&L Capital Management LLC purchased a new position in shares of Under Armour during the first quarter valued at about $98,000. Finally, Innealta Capital LLC bought a new position in Under Armour in the fourth quarter worth about $100,000. 34.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on UAA shares. Argus raised Under Armour to a “strong-buy” rating in a research report on Thursday, August 15th. Barclays lifted their price target on Under Armour from $6.00 to $8.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Morgan Stanley downgraded Under Armour from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $8.00 to $4.00 in a report on Tuesday, July 23rd. Truist Financial boosted their target price on shares of Under Armour from $7.00 to $8.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Wedbush increased their price target on shares of Under Armour from $8.00 to $8.50 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.57.

Under Armour Stock Performance

UAA stock opened at $8.00 on Friday. The stock has a market capitalization of $3.49 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 3.83 and a beta of 1.65. The stock’s 50 day simple moving average is $7.46 and its 200 day simple moving average is $7.14. Under Armour, Inc. has a 12-month low of $6.17 and a 12-month high of $9.50. The company has a current ratio of 1.73, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33.

Under Armour (NYSE:UAA) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.09. Under Armour had a positive return on equity of 11.98% and a negative net margin of 1.35%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm posted $0.02 earnings per share. Under Armour’s revenue was down 10.1% compared to the same quarter last year. As a group, research analysts forecast that Under Armour, Inc. will post 0.21 earnings per share for the current fiscal year.

Under Armour Company 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.