RMB Capital Management LLC trimmed its position in Under Armour, Inc. (NYSE:UAA) by 23.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 66,069 shares of the company’s stock after selling 20,505 shares during the period. RMB Capital Management LLC’s holdings in Under Armour were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Baird Financial Group Inc. acquired a new position in Under Armour in the 4th quarter valued at $42,903,000. Toronto Dominion Bank grew its holdings in Under Armour by 2,770.4% in the 1st quarter. Toronto Dominion Bank now owns 2,058,967 shares of the company’s stock valued at $45,626,000 after buying an additional 1,987,236 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Under Armour by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,357,394 shares of the company’s stock worth $23,307,000 after purchasing an additional 43,892 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Under Armour by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,265,283 shares of the company’s stock worth $21,725,000 after purchasing an additional 14,111 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Under Armour by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,265,283 shares of the company’s stock worth $21,727,000 after purchasing an additional 9,595 shares in the last quarter. 39.22% of the stock is currently owned by hedge funds and other institutional investors.
UAA has been the topic of several analyst reports. Barclays raised Under Armour from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $25.00 to $34.00 in a report on Wednesday, May 5th. Atlantic Securities raised Under Armour from an “underweight” rating to a “neutral” rating and set a $24.00 target price on the stock in a report on Wednesday, May 5th. Robert W. Baird increased their target price on Under Armour from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, May 5th. Oppenheimer raised Under Armour from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Friday, February 19th. Finally, Morgan Stanley upped their price objective on Under Armour from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 5th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $24.41.
Under Armour (NYSE:UAA) last issued its quarterly earnings results on Monday, May 3rd. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.12. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Under Armour had a return on equity of 6.70% and a net margin of 2.46%. The business’s quarterly revenue was up 39.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. As a group, equities analysts forecast that Under Armour, Inc. will post 0.32 earnings per share for the current year.
About Under Armour
Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot and cold.
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