Pictet Asset Management Ltd. bought a new stake in Under Armour, Inc. (NYSE:UAA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 102,042 shares of the company’s stock, valued at approximately $1,955,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cornerstone Advisors Inc. purchased a new position in shares of Under Armour during the second quarter valued at about $124,000. Municipal Employees Retirement System of Michigan purchased a new position in shares of Under Armour during the second quarter valued at about $129,000. Private Capital Management Inc. purchased a new position in shares of Under Armour during the second quarter valued at about $141,000. Horan Capital Management purchased a new position in shares of Under Armour during the second quarter valued at about $150,000. Finally, LS Investment Advisors LLC purchased a new position in shares of Under Armour during the second quarter valued at about $174,000. 29.59% of the stock is currently owned by institutional investors and hedge funds.

Shares of Under Armour, Inc. (NYSE UAA) opened at 16.59 on Tuesday. Under Armour, Inc. has a one year low of $16.40 and a one year high of $43.85. The firm has a 50 day moving average price of $19.50 and a 200 day moving average price of $20.16. The stock has a market capitalization of $7.32 billion, a PE ratio of 33.58 and a beta of -0.07.

Under Armour (NYSE:UAA) last posted its earnings results on Tuesday, August 1st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. Under Armour had a return on equity of 10.93% and a net margin of 4.38%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts predict that Under Armour, Inc. will post $0.38 earnings per share for the current fiscal year.

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Several brokerages have issued reports on UAA. B. Riley reissued a “neutral” rating and issued a $18.00 target price on shares of Under Armour in a research report on Tuesday, April 25th. UBS AG lifted their price objective on Under Armour from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, April 28th. Vetr cut Under Armour from a “strong-buy” rating to a “hold” rating and set a $21.02 price objective on the stock. in a research report on Monday, July 17th. Telsey Advisory Group lowered their price objective on Under Armour from $21.00 to $18.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 2nd. Finally, FBR & Co reaffirmed an “underperform” rating and set a $14.00 price objective on shares of Under Armour in a research report on Wednesday, August 2nd. Eleven analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and six have given a buy rating to the company. Under Armour has an average rating of “Hold” and an average target price of $23.29.

About Under Armour

Under Armour, Inc is engaged in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. The Company’s segments include North America, consisting of the United States and Canada; Europe, the Middle East and Africa (EMEA); Asia-Pacific; Latin America, and Connected Fitness.

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

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