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 funds purchase led Under Armours 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.
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 funds purchase led Under Armours 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.
