Hedge Fund Picks Up Large Stake in Under Armour…

Lone Pine Capital and related funds acquired a 7.8% stake (2,728,463 shares) in Under Armour Co., according to a filing with the SEC.  Lone Pine did not show a stake in UA for the quarter ended March 31, 2007. News of the fund’s purchase led Under Armour’s stock to jump 18.4% to $55.47 per share from the opening price on Monday July 2, before sliding back to $54.24 at close on Friday. The stake makes the firm Under Armour's second-largest institutional holder, behind AllianceBernstein, according to data from StreetSight.net.

About The Author

Teresa Hartford

Teresa Hartford Editorial & Creative Director | SGB Media teresa@sgbonline.com | 704.651.5741

Hedge Fund Picks Up Large Stake in Under Armour…

Lone Pine Capital and related funds acquired a 7.8% stake (2,728,463 shares) in Under Armour Co., according to a filing with the SEC.  Lone Pine did not show a stake in UA for the quarter ended March 31, 2007. News of the fund’s purchase led Under Armour’s stock to jump 18.4% to $55.47 per share from the opening price on Monday July 2, before sliding back to $54.24 at close on Friday. The stake makes the firm Under Armour's second-largest institutional holder, behind AllianceBernstein, according to data from StreetSight.net.

About The Author

Teresa Hartford

Teresa Hartford Editorial & Creative Director | SGB Media teresa@sgbonline.com | 704.651.5741

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