Bank of Nova Scotia Makes New $526,000 Investment in Under Armour, Inc. (NYSE:UAA)

Posted by Defense World Staff on May 24th, 2023

Bank of Nova Scotia acquired a new stake in shares of Under Armour, Inc. (NYSE:UAA – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 51,768 shares of the company’s stock, valued at approximately $526,000.

A number of other institutional investors have also recently made changes to their positions in UAA. Captrust Financial Advisors grew its holdings in Under Armour by 34.9% during the 2nd quarter. Captrust Financial Advisors now owns 6,973 shares of the company’s stock valued at $58,000 after buying an additional 1,805 shares in the last quarter. Cladis Investment Advisory LLC bought a new position in shares of Under Armour during the 3rd quarter valued at approximately $73,000. MML Investors Services LLC purchased a new position in shares of Under Armour in the third quarter valued at $74,000. Toroso Investments LLC bought a new stake in Under Armour in the third quarter worth $89,000. Finally, WMS Partners LLC raised its stake in Under Armour by 19.7% during the third quarter. WMS Partners LLC now owns 14,532 shares of the company’s stock valued at $97,000 after purchasing an additional 2,396 shares in the last quarter. Hedge funds and other institutional investors own 33.04% of the company’s stock.

Under Armour Stock Performance

Shares of Under Armour stock opened at $7.39 on Wednesday. The company has a market cap of $3.28 billion, a P/E ratio of 8.59, a price-to-earnings-growth ratio of 7.47 and a beta of 1.62. Under Armour, Inc. has a fifty-two week low of $6.38 and a fifty-two week high of $13.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.30 and a current ratio of 2.18. The firm has a 50-day simple moving average of $8.60 and a two-hundred day simple moving average of $9.68.

Under Armour (NYSE:UAA – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. Under Armour had a return on equity of 14.44% and a net margin of 6.55%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the business earned ($0.01) earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts predict that Under Armour, Inc. will post 0.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

UAA has been the subject of a number of recent research reports. Robert W. Baird lifted their price objective on shares of Under Armour from $9.00 to $10.00 in a research note on Wednesday, May 10th. Barclays dropped their price target on Under Armour from $9.00 to $8.00 in a research report on Wednesday, May 10th. JPMorgan Chase & Co. downgraded Under Armour from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $13.00 to $10.00 in a research report on Monday, March 13th. StockNews.com initiated coverage on Under Armour in a report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, UBS Group decreased their price target on Under Armour from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, March 29th. Fourteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.80.

Under Armour Profile

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Under Armour, Inc engages in the development, marketing, and distribution of branded performance apparel, footwear, and accessories for men, women, and youth. It operates through the following segments: North America, EMEA, Asia-Pacific, Latin America, and Connected Fitness. The Connected Fitness segment offers digital fitness subscriptions, along with digital advertising through its MapMyFitness, MyFitnessPal, and Endomondo applications.