Norges Bank Makes New $11.15 Million Investment in Under Armour, Inc. (NYSE:UAA)

Norges Bank purchased a new position in shares of Under Armour, Inc. (NYSE:UAA - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,346,773 shares of the company's stock, valued at approximately $11,151,000. Norges Bank owned approximately 0.31% of Under Armour at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of UAA. Rockefeller Capital Management L.P. raised its holdings in Under Armour by 8.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 115,447 shares of the company's stock valued at $1,029,000 after acquiring an additional 9,439 shares during the last quarter. Stifel Financial Corp lifted its position in Under Armour by 85.6% during the third quarter. Stifel Financial Corp now owns 66,671 shares of the company's stock worth $594,000 after buying an additional 30,755 shares during the period. National Bank of Canada FI boosted its stake in Under Armour by 9.4% in the 3rd quarter. National Bank of Canada FI now owns 37,703 shares of the company's stock worth $336,000 after buying an additional 3,232 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in Under Armour by 15.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 59,237 shares of the company's stock worth $528,000 after buying an additional 7,839 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings 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 buying an additional 1,800 shares during the period. Institutional investors and hedge funds own 34.58% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group decreased their target price on shares of Under Armour from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Evercore ISI lowered their price objective on shares of Under Armour from $8.00 to $7.00 and set an "underperform" rating for the company in a research note on Monday, February 10th. TD Cowen upped their price objective on Under Armour from $10.00 to $11.00 and gave the stock a "hold" rating in a report on Friday, December 13th. KGI Securities initiated coverage on Under Armour in a report on Friday, March 7th. They issued a "neutral" rating and a $7.40 target price on the stock. Finally, Barclays dropped their price target on Under Armour from $11.00 to $8.00 and set an "equal weight" rating for the company in a research note on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $9.12.

Under Armour Stock Down 0.5 %

UAA stock traded down $0.03 during mid-day trading on Friday, hitting $5.18. 15,698,643 shares of the company were exchanged, compared to its average volume of 11,810,466. The firm has a fifty day simple moving average of $6.63 and a 200 day simple moving average of $8.11. The company has a market capitalization of $2.22 billion, a PE ratio of -17.84 and a beta of 1.49. Under Armour, Inc. has a twelve month low of $4.78 and a twelve month high of $11.89. The company has a current ratio of 2.01, a quick ratio of 1.19 and a debt-to-equity ratio of 0.30.

Under Armour (NYSE:UAA - Get Free Report) 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 11.03% and a negative net margin of 2.39%. During the same period in the prior year, the business earned $0.19 earnings per share. On average, research analysts forecast that Under Armour, Inc. will post 0.3 earnings per share for the current fiscal year.

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.