Under Armour (UA) : Wednesdays money flow points at investors jumping to buy the stock on the weakness of price. $14.71 million worth of transactions were on upticks, whereas, the downticks accounted for $11.6 million worth of transactions. The net money flow was a positive $3.11 million and the uptick to downtick ratio was 1.27. However, the block trades showed a clear dominance of the bulls with a very healthy ratio of 2.67 in their favor. The net money flow into the stock was $2.94 million. The value of block trades done on downticks was only $1.75 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $4.69 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. Under Armour (UA) was trading at $41.9, down $0.02 during day. The stock slid -0.05% over the previous days close. For the week, the stock recorded 0.53% over the previous weeks close.
Also, Brokerage firm Buckingham Research upgrades its rating on Under Armour (NYSE:UA). As per the latest information, the brokerage house raises the price target to $48 per share from a prior target of $44. The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on June 20, 2016.
Under Armour (NYSE:UA): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $42.00 and $41.62 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $42.32. The buying momentum continued till the end and the stock did not give up its gains. It closed at $42.16, notching a gain of 0.57% for the day. The total traded volume was 3,563,971 . The stock had closed at $41.92 on the previous day.
The stock has recorded a 20-day Moving Average of 5.94% and the 50-Day Moving Average is 9.62%. In a related news,The (President of North America) of Under Armour, Inc., Mirchin Matthew C sold 26,377 shares at $46.43 on April 25, 2016. The Insider selling transaction had a total value worth of $1,224,684. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Under Armour, Inc. is engaged in the development, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. The Companys moisture-wicking fabrications are engineered in a range of designs and styles for wear in nearly every climate to provide an alternative to traditional products. The Companys operating segments include North America, consisting of the United States and Canada; Europe, the Middle East and Africa (EMEA); Asia-Pacific; Latin America, and MapMyFitness. The Company also offers digital fitness platform licenses and subscriptions, along with digital advertising through its MapMyFitness business. Its apparel offers three gearlines, including HEATGEAR, COLDGEAR and ALLSEASONGEAR. Its footwear offerings include football, baseball, lacrosse, softball and soccer cleats, slides and performance training, running, basketball and outdoor footwear. Its accessories primarily include the sale of headwear, bags and gloves.