Fintel reports that BlackRock has filed a 13G form with the SEC disclosing ownership of 16.83MM shares of Under Armour, Inc., Class C (UA). This represents 7.3% of the company.
In their previous filing dated June 9, 2020 they reported 11.34MM shares and 4.90% of the company, an increase in shares of 48.49% and an increase in total ownership of 2.40% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 13.40% Downside
As of February 3, 2023, the average one-year price target for Under Armour, Inc., Class C is $9.68. The forecasts range from a low of $7.14 to a high of $13.93. The average price target represents a decrease of 13.40% from its latest reported closing price of $11.18.
The projected annual revenue for Under Armour, Inc., Class C is $5,907MM, an increase of 12.95%. The projected annual EPS is $0.46.
Fund Sentiment
There are 604 funds or institutions reporting positions in Under Armour, Inc., Class C. This is a decrease of 204 owner(s) or 25.25%.
Average portfolio weight of all funds dedicated to US:UA is 0.0530%, a decrease of 2.0995%. Total shares owned by institutions decreased in the last three months by 12.13% to 167,821K shares.
What are large shareholders doing?
Dorsal Capital Management holds 12,500,000 shares representing 2.76% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,229,572 shares representing 1.38% ownership of the company. In it's prior filing, the firm reported owning 6,643,927 shares, representing a decrease of 6.65%. The firm decreased its portfolio allocation in UA by 23.15% over the last quarter.
Janus Henderson Group holds 6,054,360 shares representing 1.34% ownership of the company. In it's prior filing, the firm reported owning 6,161,884 shares, representing a decrease of 1.78%. The firm decreased its portfolio allocation in UA by 16.05% over the last quarter.
JORNX - Janus Henderson Global Select Fund Class T holds 6,015,561 shares representing 1.33% ownership of the company. In it's prior filing, the firm reported owning 6,089,695 shares, representing a decrease of 1.23%. The firm decreased its portfolio allocation in UA by 15.42% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,863,438 shares representing 1.30% ownership of the company. In it's prior filing, the firm reported owning 5,837,607 shares, representing an increase of 0.44%. The firm decreased its portfolio allocation in UA by 20.63% over the last quarter.
Under Armour Background Information
(This description is provided by the company.)
Under Armour, Inc. is an American sports equipment company that manufactures footwear, sports and casual apparel. The company sells its products through wholesale channels, including national and regional sporting goods chains, independent and specialty retailers, department store chains, mono-branded Under Armour retail stores, institutional athletic departments, and leagues and teams, as well as independent distributors.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
