5 Best Sporting Goods Stocks To Invest In

03. Under Armour, Inc. (NYSE:UA)

Number of Hedge Fund Holders as of Q2, 2022: 38

Under Armour, Inc. (NYSE:UA) is a Baltimore, Maryland-based manufacturer and seller of sports apparel, athletic shirts, and other products. The company has some of the most well-known celebrities as endorsers. For instance, NBA superstar Steph Curry joined Under Armour, Inc. (NYSE:UA) in 2013 and is close to signing a lifetime extension deal of around $1 billion with the entity.

Under Armour, Inc. (NYSE:UA) anticipates its annual topline growth to be around 6% during FY23. The company has undergone restructuring to improve its sales and gross profit margins.  Experts believe the stock is very cheap, with a forward EV/Sales multiple below 0.6.  On October 20, Williams Trading analyst Sam Poser upgraded Under Armour, Inc. (NYSE:UA) to Hold from Sell with a $6.50 price target.

According to Insider Monkey’s Q2 data, Under Armour, Inc. (NYSE:UA) was found in the public stock portfolios of 38 hedge funds, with collective stakes in the company worth $486.74 million. Adage Capital Management was the top shareholder of Under Armour Inc (NYSE:UA) in the second quarter, with a $96.69 million stake consisting of 12.75 million shares.