Under Armour (NYSE:UA) Trading Down 15.6% – Here’s Why

Under Armour, Inc. (NYSE:UA)’s share price dropped 15.6% on Thursday . The stock traded as low as $5.39 and last traded at $5.32. Approximately 1,948,014 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 3,370,376 shares. The stock had previously closed at $6.30.

Under Armour Price Performance

The company has a quick ratio of 1.19, a current ratio of 2.01 and a debt-to-equity ratio of 0.30. The company has a 50 day simple moving average of $6.53 and a 200-day simple moving average of $7.56. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -17.55 and a beta of 1.60.

Under Armour (NYSE:UA) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.05. Under Armour had a positive return on equity of 11.03% and a negative net margin of 2.39%. During the same quarter last year, the company posted $0.25 EPS.

Hedge Funds Weigh In On Under Armour

Several institutional investors have recently modified their holdings of the company. Harbour Investments Inc. lifted its position in Under Armour by 592.9% in the 4th quarter. Harbour Investments Inc. now owns 3,506 shares of the company’s stock valued at $26,000 after purchasing an additional 3,000 shares during the last quarter. Bellwether Advisors LLC bought a new stake in shares of Under Armour during the fourth quarter valued at approximately $29,000. Quarry LP acquired a new position in shares of Under Armour during the fourth quarter worth approximately $30,000. Sugar Maple Asset Management LLC acquired a new position in shares of Under Armour during the fourth quarter worth approximately $45,000. Finally, Kercheville Advisors LLC bought a new position in Under Armour in the 4th quarter worth approximately $75,000. Institutional investors own 36.35% of the company’s stock.

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.