Under Armour, Inc. (NYSE:UAA) Short Interest Down 15.6% in December

Under Armour, Inc. (NYSE:UAA) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totalling 25,530,000 shares, a decline of 15.6% from the December 15th total of 30,260,000 shares. Based on an average daily volume of 10,330,000 shares, the days-to-cover ratio is currently 2.5 days. Approximately 13.6% of the company’s stock are sold short.

Insider Transactions at Under Armour

In other news, CFO David Bergman sold 30,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $9.09, for a total value of $272,700.00. Following the completion of the transaction, the chief financial officer now owns 494,210 shares in the company, valued at $4,492,368.90. This trade represents a 5.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mehri Shadman sold 9,639 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $8.81, for a total value of $84,919.59. Following the sale, the insider now owns 172,899 shares in the company, valued at $1,523,240.19. The trade was a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,879 shares of company stock valued at $508,642 over the last 90 days. 15.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its stake in shares of Under Armour by 14.7% in the second quarter. Commonwealth Equity Services LLC now owns 103,150 shares of the company’s stock valued at $688,000 after buying an additional 13,209 shares during the period. Victory Capital Management Inc. lifted its position in shares of Under Armour by 16.1% during the 2nd quarter. Victory Capital Management Inc. now owns 165,520 shares of the company’s stock valued at $1,104,000 after acquiring an additional 22,930 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Under Armour during the 2nd quarter valued at $80,000. Federated Hermes Inc. grew its holdings in shares of Under Armour by 6.8% during the 2nd quarter. Federated Hermes Inc. now owns 188,609 shares of the company’s stock worth $1,258,000 after purchasing an additional 11,961 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Under Armour by 12.7% in the second quarter. Dimensional Fund Advisors LP now owns 9,351,829 shares of the company’s stock worth $62,376,000 after purchasing an additional 1,051,143 shares during the period. Institutional investors and hedge funds own 34.58% of the company’s stock.

Analyst Ratings Changes

UAA has been the topic of a number of analyst reports. UBS Group upped their price objective on Under Armour from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Argus cut shares of Under Armour from a “buy” rating to a “hold” rating in a research note on Thursday. Robert W. Baird boosted their price objective on shares of Under Armour from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Truist Financial raised their target price on shares of Under Armour from $8.00 to $11.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Finally, Morgan Stanley reissued an “underweight” rating and set a $4.00 price target on shares of Under Armour in a research report on Friday, December 13th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.28.

Under Armour Price Performance

UAA stock opened at $8.06 on Friday. Under Armour has a 52 week low of $6.17 and a 52 week high of $11.89. The company’s 50-day simple moving average is $9.07 and its 200 day simple moving average is $8.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.24 and a current ratio of 2.18.

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.