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Hedge Funds Are Selling Under Armour Inc (NYSE:UA)

Under Armour Inc (NYSE:UA) was in 13 hedge funds’ portfolio at the end of December. UA has experienced a decrease in hedge fund sentiment recently. There were 16 hedge funds in our database with UA holdings at the end of the previous quarter.

Under Armour Inc (NYSE:UA)

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With these “truths” under our belt, let’s take a gander at the latest action regarding Under Armour Inc (NYSE:UA).

How are hedge funds trading Under Armour Inc (NYSE:UA)?

At year’s end, a total of 13 of the hedge funds we track were bullish in this stock, a change of -19% from one quarter earlier. With hedgies’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were upping their holdings considerably.

When looking at the hedgies we track, Citadel Investment Group, managed by Ken Griffin, holds the biggest position in Under Armour Inc (NYSE:UA). Citadel Investment Group has a $158 million position in the stock, comprising 0.2% of its 13F portfolio. Sitting at the No. 2 spot is Scopus Asset Management, managed by Alexander Mitchell, which held a $46 million position; 0.4% of its 13F portfolio is allocated to the stock. Some other hedge funds that hold long positions include Donald Chiboucis’s Columbus Circle Investors, Israel Englander’s Millennium Management and Paul Tudor Jones’s Tudor Investment Corp.

Judging by the fact that Under Armour Inc (NYSE:UA) has witnessed falling interest from the aggregate hedge fund industry, logic holds that there lies a certain “tier” of money managers that decided to sell off their entire stakes heading into 2013. It’s worth mentioning that Douglas Dillard Jr. and Raj D. Venkatesan’s Standard Pacific Capital cut the biggest investment of the “upper crust” of funds we monitor, comprising about $54 million in stock., and Richard Driehaus of Driehaus Capital was right behind this move, as the fund dropped about $14 million worth. These moves are interesting, as aggregate hedge fund interest dropped by 3 funds heading into 2013.

What do corporate executives and insiders think about Under Armour Inc (NYSE:UA)?

Insider purchases made by high-level executives is best served when the company we’re looking at has seen transactions within the past 180 days. Over the latest 180-day time period, Under Armour Inc (NYSE:UA) has experienced zero unique insiders purchasing, and 6 insider sales (see the details of insider trades here).

With the returns exhibited by Insider Monkey’s time-tested strategies, everyday investors should always watch hedge fund and insider trading sentiment, and Under Armour Inc (NYSE:UA) applies perfectly to this mantra.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

Insider Monkey’s small-cap strategy returned 29.2% between September 2012 and February 2013 versus 8.7% for the S&P 500 index. Try it now by clicking the link above.

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