Under Armour, Inc. (NYSE:UA) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 32,527,961 shares, a decline of 13.6% from the October 13th total of 37,648,765 shares. Currently, 17.9% of the company’s shares are short sold. Based on an average daily trading volume, of 7,386,754 shares, the days-to-cover ratio is currently 4.4 days.
Hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. bought a new position in shares of Under Armour in the second quarter worth approximately $19,429,000. Contrarius Investment Management Ltd bought a new position in shares of Under Armour in the second quarter worth approximately $17,656,000. Personal Capital Advisors Corp lifted its stake in shares of Under Armour by 87.2% in the third quarter. Personal Capital Advisors Corp now owns 118,364 shares of the company’s stock worth $1,778,000 after buying an additional 55,129 shares in the last quarter. Kessler Investment Group LLC bought a new position in shares of Under Armour in the second quarter worth approximately $252,000. Finally, Bank of Nova Scotia lifted its stake in shares of Under Armour by 113.5% in the second quarter. Bank of Nova Scotia now owns 849,264 shares of the company’s stock worth $17,121,000 after buying an additional 451,485 shares in the last quarter. Hedge funds and other institutional investors own 30.10% of the company’s stock.
UA has been the topic of several research analyst reports. Vetr upgraded shares of Under Armour from a “hold” rating to a “buy” rating and set a $18.88 price target on the stock in a research report on Tuesday, July 25th. Jefferies Group LLC set a $28.00 price target on shares of Under Armour and gave the company a “buy” rating in a research report on Monday, July 31st. KeyCorp reiterated a “hold” rating on shares of Under Armour in a research report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Under Armour in a research report on Tuesday, August 1st. Finally, Canaccord Genuity restated a “hold” rating and issued a $18.00 price objective (down previously from $21.00) on shares of Under Armour in a report on Thursday, August 3rd. Eight analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $16.49.
Under Armour (UA) opened at $11.73 on Friday. The stock has a market cap of $5,260.00 and a P/E ratio of 26.63. Under Armour has a 52 week low of $10.36 and a 52 week high of $29.53.
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About Under Armour
Under Armour, Inc is engaged in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. The Company’s segments include North America, consisting of the United States and Canada; Europe, the Middle East and Africa (EMEA); Asia-Pacific; Latin America, and Connected Fitness.
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