Under Armour (NYSE:UA) Stock Price Down 4.5% – Here’s Why

Shares of Under Armour, Inc. (NYSE:UA) dropped 4.5% on Wednesday. The stock traded as low as $4.76 and last traded at $4.7750. Approximately 517,626 shares were traded during trading, a decline of 85% from the average session volume of 3,399,212 shares. The stock had previously closed at $5.00.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Under Armour from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Sell” and a consensus target price of $5.50.

Under Armour Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.95 and a quick ratio of 1.01. The stock has a 50 day moving average price of $4.77 and a two-hundred day moving average price of $5.77. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -4.38 and a beta of 1.51.

Hedge Funds Weigh In On Under Armour

A number of hedge funds and other institutional investors have recently bought and sold shares of UA. International Assets Investment Management LLC grew its position in Under Armour by 80.0% in the 1st quarter. International Assets Investment Management LLC now owns 4,500 shares of the company’s stock valued at $25,000 after acquiring an additional 2,000 shares in the last quarter. Versant Capital Management Inc increased its stake in Under Armour by 150.2% during the third quarter. Versant Capital Management Inc now owns 5,869 shares of the company’s stock worth $26,000 after purchasing an additional 3,523 shares during the period. HB Wealth Management LLC lifted its position in shares of Under Armour by 19.4% during the first quarter. HB Wealth Management LLC now owns 21,828 shares of the company’s stock worth $126,000 after purchasing an additional 3,551 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Under Armour during the first quarter worth about $26,000. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Under Armour by 10.5% during the first quarter. Public Employees Retirement System of Ohio now owns 62,104 shares of the company’s stock worth $360,000 after purchasing an additional 5,887 shares in the last quarter. 36.35% of the stock is currently owned by hedge funds and other institutional investors.

About Under Armour

Under Armour, Inc. develops, markets and distributes performance apparel, footwear and accessories for athletes and consumers. Its products include training and running apparel, athletic shoes, sports bras and accessories such as bags and headwear. Founded in 1996 by Kevin Plank, the company is headquartered in Baltimore, Maryland. Under Armour sells its products internationally through wholesale partners, company-operated stores and e-commerce channels.