Under Armour Sees Unusually Large Options Volume (NYSE:UAA)

Under Armour, Inc. (NYSE:UAA) saw some unusual options trading on Friday. Investors bought 13,363 put options on the company. This represents an increase of 79% compared to the typical volume of 7,460 put options.

Under Armour Stock Down 8.1 %

UAA stock opened at $8.81 on Friday. The company has a market cap of $3.81 billion, a price-to-earnings ratio of -293.67 and a beta of 1.69. The company has a fifty day moving average price of $9.34 and a 200 day moving average price of $8.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.18 and a quick ratio of 1.24. Under Armour has a 12 month low of $6.17 and a 12 month high of $11.89.

Insider Activity at Under Armour

In other news, CFO David Bergman sold 30,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $9.09, for a total value of $272,700.00. Following the sale, the chief financial officer now directly owns 494,210 shares in the company, valued at approximately $4,492,368.90. This trade represents a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mehri Shadman sold 17,240 shares of Under Armour stock in a transaction on Friday, November 15th. The shares were sold at an average price of $8.76, for a total value of $151,022.40. Following the completion of the transaction, the insider now owns 182,538 shares of the company’s stock, valued at approximately $1,599,032.88. This trade represents a 8.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,879 shares of company stock worth $508,642 in the last three months. 15.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Under Armour

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. increased its position in Under Armour by 163.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,900 shares of the company’s stock valued at $26,000 after acquiring an additional 1,800 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Under Armour in the third quarter valued at approximately $56,000. Optas LLC purchased a new stake in shares of Under Armour during the second quarter worth approximately $72,000. CWM LLC lifted its holdings in shares of 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 purchasing an additional 1,409 shares during the period. Finally, Koss Olinger Consulting LLC purchased a new position in Under Armour in the 2nd quarter valued at $79,000. 34.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UAA has been the subject of a number of analyst reports. UBS Group boosted 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 reiterated an “underweight” rating and set a $4.00 price target on shares of Under Armour in a report on Friday. Robert W. Baird raised their price objective on shares of Under Armour from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Telsey Advisory Group reiterated a “market perform” rating and set a $10.00 target price on shares of Under Armour in a research note on Friday. Finally, BMO Capital Markets raised their price target on Under Armour from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.34.

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.