Massachusetts Financial Services Co. MA Sells 74,389 Shares of Under Armour, Inc. (NYSE:UA)

Massachusetts Financial Services Co. MA trimmed its stake in Under Armour, Inc. (NYSE:UA) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,128,225 shares of the company’s stock after selling 74,389 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.95% of Under Armour worth $26,957,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. WINTON GROUP Ltd bought a new stake in Under Armour in the second quarter worth $4,579,000. Victory Capital Management Inc. boosted its holdings in Under Armour by 14.2% in the second quarter. Victory Capital Management Inc. now owns 6,059,071 shares of the company’s stock worth $39,566,000 after acquiring an additional 752,018 shares in the last quarter. Resonant Capital Advisors LLC boosted its holdings in Under Armour by 16.2% in the second quarter. Resonant Capital Advisors LLC now owns 25,705 shares of the company’s stock worth $168,000 after acquiring an additional 3,582 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Under Armour by 12.5% in the second quarter. Commonwealth Equity Services LLC now owns 204,843 shares of the company’s stock worth $1,338,000 after acquiring an additional 22,826 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Under Armour by 19.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,301 shares of the company’s stock worth $328,000 after purchasing an additional 8,286 shares during the last quarter. 36.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus decreased their price target on Under Armour from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, June 24th.

Under Armour Stock Up 1.5 %

UA stock opened at $7.60 on Friday. Under Armour, Inc. has a 1-year low of $5.86 and a 1-year high of $8.99. The business has a fifty day moving average price of $7.18 and a 200-day moving average price of $6.92. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.73 and a quick ratio of 1.08. The stock has a market capitalization of $3.28 billion, a P/E ratio of 14.34 and a beta of 1.64.

Under Armour (NYSE:UA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.10. Under Armour had a positive return on equity of 11.98% and a negative net margin of 1.35%. The firm had revenue of $1.18 billion during the quarter. Equities analysts forecast that Under Armour, Inc. will post 0.2 earnings per share for the current fiscal year.

About Under Armour

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.