Traders Buy High Volume of Put Options on Under Armour (NYSE:UAA)

Under Armour, Inc. (NYSE:UAA) was the recipient of some unusual options trading on Friday. Stock traders bought 21,664 put options on the stock. This represents an increase of 191% compared to the average daily volume of 7,435 put options.

Under Armour Price Performance

Shares of UAA stock opened at $7.29 on Friday. The firm has a fifty day moving average of $8.67 and a two-hundred day moving average of $8.45. The firm has a market cap of $3.15 billion, a P/E ratio of -242.75 and a beta of 1.69. Under Armour has a 1-year low of $6.17 and a 1-year high of $11.89. 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 (NYSE:UAA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. Under Armour had a positive return on equity of 13.20% and a negative net margin of 0.27%. During the same period in the prior year, the business earned $0.19 earnings per share. As a group, research analysts anticipate that Under Armour will post 0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of Under Armour from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th. Guggenheim reaffirmed a “neutral” rating on shares of Under Armour in a research report on Friday. Telsey Advisory Group reissued a “market perform” rating and issued a $10.00 price objective on shares of Under Armour in a research report on Thursday. Morgan Stanley reaffirmed an “underweight” rating and issued a $4.00 target price on shares of Under Armour in a research report on Friday, December 13th. Finally, Argus lowered Under Armour from a “buy” rating to a “hold” rating in a research note on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Under Armour presently has an average rating of “Hold” and an average target price of $9.22.

Insider Activity at Under Armour

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

Institutional Investors Weigh In On Under Armour

Several institutional investors and hedge funds have recently made changes to their positions in the company. Compagnie Lombard Odier SCmA bought a new stake in Under Armour during the fourth quarter valued at $25,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of 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 buying an additional 1,800 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Under Armour during the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. acquired a new stake in Under Armour during the fourth quarter worth about $40,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Under Armour during the third quarter worth about $56,000. 34.58% of the stock is owned by institutional investors and hedge funds.

Under Armour Company Profile

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.