Amalgamated Bank Cuts Stake in Under Armour, Inc. (NYSE:UAA)

Amalgamated Bank lessened its stake in shares of Under Armour, Inc. (NYSE:UAA) by 28.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,520 shares of the company’s stock after selling 33,460 shares during the quarter. Amalgamated Bank’s holdings in Under Armour were worth $762,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Under Armour in the 3rd quarter worth approximately $56,000. CWM LLC boosted its stake in Under Armour by 20.7% during the third quarter. CWM LLC now owns 8,211 shares of the company’s stock worth $73,000 after buying an additional 1,409 shares during the period. City State Bank lifted its position in shares of Under Armour by 292.6% during the third quarter. City State Bank now owns 10,063 shares of the company’s stock worth $90,000 after purchasing an additional 7,500 shares during the last quarter. Optas LLC bought a new stake in shares of Under Armour during the second quarter worth $72,000. Finally, Koss Olinger Consulting LLC bought a new stake in shares of Under Armour during the second quarter worth $79,000. Hedge funds and other institutional investors own 34.58% of the company’s stock.

Under Armour Stock Performance

Shares of Under Armour stock opened at $9.95 on Friday. The business has a 50-day moving average of $8.65 and a 200 day moving average of $7.62. Under Armour, Inc. has a 12 month low of $6.17 and a 12 month high of $11.89. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -331.39, a price-to-earnings-growth ratio of 3.66 and a beta of 1.66. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.18 and a quick ratio of 1.24.

Analyst Ratings Changes

UAA has been the subject of several research analyst reports. Telsey Advisory Group reiterated a “market perform” rating and set a $8.00 target price on shares of Under Armour in a research report on Monday, November 4th. Truist Financial upped their target price on Under Armour from $8.00 to $11.00 and gave the company a “hold” rating in a research report on Friday, November 8th. UBS Group upped their price objective on Under Armour from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Morgan Stanley downgraded Under Armour from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $8.00 to $4.00 in a research note on Tuesday, July 23rd. Finally, TD Cowen increased their price objective on Under Armour from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.03.

About Under Armour

Under Armour, Inc, together with its subsidiaries, engages developing, marketing, and distributing 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.