Traders Buy High Volume of Put Options on Under Armour (NYSE:UAA)

Under Armour, Inc. (NYSE:UAA) saw unusually large options trading on Friday. Traders bought 21,664 put options on the company. This is an increase of 191% compared to the typical daily volume of 7,435 put options.

Wall Street Analyst Weigh In

A number of brokerages have commented on UAA. Wells Fargo & Company lifted their price objective on shares of Under Armour from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Barclays decreased their price objective on Under Armour from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. UBS Group dropped their target price on Under Armour from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Needham & Company LLC restated a “hold” rating on shares of Under Armour in a report on Friday. Finally, Argus lowered shares of Under Armour from a “buy” rating to a “hold” rating in a research note on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Under Armour has a consensus rating of “Hold” and a consensus price target of $9.22.

Under Armour Stock Down 2.2 %

Shares of NYSE UAA traded down $0.17 during midday trading on Friday, reaching $7.44. 5,043,359 shares of the company’s stock traded hands, compared to its average volume of 9,858,669. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -248.08 and a beta of 1.69. Under Armour has a one year low of $6.17 and a one year high of $11.89. The company has a quick ratio of 1.24, a current ratio of 2.18 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $8.72 and its 200-day simple moving average is $8.45.

Under Armour (NYSE:UAA) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.03 by $0.05. Under Armour had a positive return on equity of 13.20% and a negative net margin of 0.27%. During the same period last year, the business posted $0.19 earnings per share. On average, analysts predict that Under Armour will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO David Bergman sold 30,000 shares of the business’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 sale, the chief financial officer now directly owns 494,210 shares in the company, valued at approximately $4,492,368.90. The trade was a 5.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mehri Shadman sold 9,639 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $8.81, for a total value of $84,919.59. Following the transaction, the insider now owns 172,899 shares of the company’s stock, valued at $1,523,240.19. This represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,879 shares of company stock valued at $508,642. Corporate insiders own 15.60% of the company’s stock.

Institutional Trading of Under Armour

Hedge funds have recently modified their holdings of the company. CWM LLC raised its stake in shares of Under Armour by 20.7% during the 3rd quarter. CWM LLC now owns 8,211 shares of the company’s stock worth $73,000 after acquiring an additional 1,409 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Under Armour by 11.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,860 shares of the company’s stock worth $123,000 after purchasing an additional 1,409 shares in the last quarter. MCF Advisors LLC increased its position in shares of Under Armour by 7.6% during the fourth quarter. MCF Advisors LLC now owns 20,187 shares of the company’s stock worth $167,000 after purchasing an additional 1,419 shares in the last quarter. Optas LLC boosted its position in shares of Under Armour by 5.5% in the 4th quarter. Optas LLC now owns 28,519 shares of the company’s stock worth $236,000 after purchasing an additional 1,484 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Under Armour by 7.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 22,835 shares of the company’s stock worth $203,000 after purchasing an additional 1,485 shares in the last quarter. 34.58% of the stock is owned by hedge funds and other institutional investors.

Under Armour Company Profile

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.