Kornitzer Capital Management Inc. KS Decreases Holdings in Under Armour Inc (NYSE:UA)

Kornitzer Capital Management Inc. KS trimmed its holdings in shares of Under Armour Inc (NYSE:UA) by 5.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,000 shares of the company’s stock after selling 6,490 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Under Armour were worth $2,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in UA. Ossiam purchased a new stake in Under Armour during the 2nd quarter worth about $28,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Under Armour in the 3rd quarter valued at about $28,000. FinTrust Capital Advisors LLC purchased a new stake in shares of Under Armour in the 3rd quarter valued at about $36,000. Valeo Financial Advisors LLC lifted its holdings in shares of Under Armour by 96.7% in the 3rd quarter. Valeo Financial Advisors LLC now owns 2,016 shares of the company’s stock valued at $37,000 after purchasing an additional 991 shares during the last quarter. Finally, Capital Bank & Trust Co purchased a new stake in shares of Under Armour in the 2nd quarter valued at about $39,000. 33.21% of the stock is owned by institutional investors.

UA traded down $0.20 on Friday, hitting $15.88. 2,602,959 shares of the company traded hands, compared to its average volume of 2,249,103. The company has a 50 day moving average of $18.01 and a 200-day moving average of $19.90. The company has a quick ratio of 1.11, a current ratio of 2.05 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $7.36 billion, a PE ratio of 58.81 and a beta of 1.05. Under Armour Inc has a 12-month low of $15.05 and a 12-month high of $24.55.

Under Armour (NYSE:UA) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.05). The company had revenue of $1.43 billion for the quarter. Under Armour had a net margin of 2.14% and a return on equity of 7.24%. On average, research analysts anticipate that Under Armour Inc will post 0.35 EPS for the current year.

In other Under Armour news, insider Kevin Eskridge sold 56,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $17.69, for a total transaction of $999,485.00. Following the completion of the sale, the insider now directly owns 196,374 shares of the company’s stock, valued at approximately $3,473,856.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.90% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on UA. Evercore ISI reissued a “buy” rating and issued a $33.00 target price on shares of Under Armour in a report on Sunday, August 11th. Pivotal Research reissued a “hold” rating and issued a $25.00 target price on shares of Under Armour in a report on Wednesday, July 24th. Sanford C. Bernstein raised Under Armour from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 3rd. ValuEngine raised Under Armour from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus set a $30.00 target price on Under Armour and gave the company a “buy” rating in a report on Friday, July 19th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $22.27.

Under Armour Profile

Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot and cold.

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Institutional Ownership by Quarter for Under Armour (NYSE:UA)

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