Hsbc Holdings PLC Trims Position in Under Armour, Inc. (NYSE:UA)

Hsbc Holdings PLC reduced its holdings in Under Armour, Inc. (NYSE:UA) by 14.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 471,313 shares of the company’s stock after selling 78,519 shares during the period. Hsbc Holdings PLC’s holdings in Under Armour were worth $3,059,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in UA. CWM LLC lifted its holdings in Under Armour by 31.1% in the second quarter. CWM LLC now owns 12,628 shares of the company’s stock valued at $82,000 after acquiring an additional 2,995 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Under Armour by 16.5% in the 1st quarter. Concurrent Investment Advisors LLC now owns 21,537 shares of the company’s stock valued at $154,000 after purchasing an additional 3,045 shares during the period. Resonant Capital Advisors LLC boosted its holdings in Under Armour by 16.2% during the second quarter. Resonant Capital Advisors LLC now owns 25,705 shares of the company’s stock worth $168,000 after buying an additional 3,582 shares in the last quarter. Summit Financial Strategies Inc. grew its position in Under Armour by 24.9% during the second quarter. Summit Financial Strategies Inc. now owns 19,415 shares of the company’s stock valued at $127,000 after buying an additional 3,868 shares during the period. Finally, Profit Investment Management LLC increased its holdings in Under Armour by 0.7% in the second quarter. Profit Investment Management LLC now owns 569,878 shares of the company’s stock valued at $3,721,000 after buying an additional 4,009 shares in the last quarter. Institutional investors and hedge funds own 36.35% of the company’s stock.

Under Armour Stock Up 3.2 %

Under Armour stock opened at $7.82 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.73 and a quick ratio of 1.08. The stock has a market capitalization of $3.38 billion, a PE ratio of 14.75 and a beta of 1.64. The business has a 50 day simple moving average of $7.26 and a 200-day simple moving average of $6.89. Under Armour, Inc. has a 12 month low of $5.86 and a 12 month high of $8.99.

Under Armour (NYSE:UA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.10. Under Armour had a negative net margin of 1.35% and a positive return on equity of 11.98%. The company had revenue of $1.18 billion during the quarter. On average, analysts anticipate that Under Armour, Inc. will post 0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lowered their target price on shares of Under Armour from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday, June 24th.

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.