Principal Financial Group Inc. Sells 81,934 Shares of Under Armour, Inc. (NYSE:UAA)

Principal Financial Group Inc. reduced its holdings in Under Armour, Inc. (NYSE:UAA - Free Report) by 11.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 629,002 shares of the company's stock after selling 81,934 shares during the quarter. Principal Financial Group Inc. owned about 0.14% of Under Armour worth $4,195,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Hexagon Capital Partners LLC raised its stake in Under Armour by 101.1% in the first quarter. Hexagon Capital Partners LLC now owns 3,760 shares of the company's stock worth $28,000 after buying an additional 1,890 shares in the last quarter. Optas LLC purchased a new stake in Under Armour in the second quarter worth $72,000. M&T Bank Corp bought a new position in Under Armour in the fourth quarter worth $91,000. KG&L Capital Management LLC purchased a new position in Under Armour during the first quarter valued at $98,000. Finally, Innealta Capital LLC purchased a new position in Under Armour during the fourth quarter valued at $100,000. 34.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UAA. Telsey Advisory Group reissued a "market perform" rating and set a $7.00 price target on shares of Under Armour in a research report on Monday, August 5th. Wells Fargo & Company lowered their target price on shares of Under Armour from $7.00 to $6.00 and set an "equal weight" rating for the company in a report on Friday, May 17th. Stifel Nicolaus upped their price target on Under Armour from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Barclays lifted their price objective on Under Armour from $6.00 to $8.00 and gave the company an "equal weight" rating in a research note on Friday, August 9th. Finally, William Blair downgraded Under Armour from an "outperform" rating to a "market perform" rating in a report on Thursday, May 16th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $7.50.

Under Armour Stock Performance

UAA traded down $0.02 during midday trading on Wednesday, hitting $6.79. 16,405,777 shares of the company traded hands, compared to its average volume of 9,492,540. The company's 50-day moving average is $7.31 and its 200 day moving average is $7.19. Under Armour, Inc. has a 52 week low of $6.17 and a 52 week high of $9.50. The firm has a market capitalization of $2.93 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 3.57 and a beta of 1.65. The company has a quick ratio of 1.08, a current ratio of 1.73 and a debt-to-equity ratio of 0.33.

Under Armour (NYSE:UAA - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.14 billion. Under Armour had a negative net margin of 1.35% and a positive return on equity of 11.98%. The firm's quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.02 earnings per share. On average, research analysts expect that Under Armour, Inc. will post 0.22 EPS for the current year.

Under Armour announced that its board has initiated a share buyback plan on Thursday, May 16th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 16.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

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.