David Bergman, the Chief Financial Officer of Under Armour Inc (NYSE:UAA). (NYSE:UA), recently sold a portion of his holdings in the company. The athletic wear manufacturer, currently valued at $3.94 billion, has shown strong momentum with a 33.6% price return over the past six months, according to InvestingPro data. According to a recent SEC filing, Bergman sold 30,000 shares of Under Armour (NYSE:UA)'s Class C Common Stock on December 2, 2024. The shares were sold at a weighted average price of $9.0868, resulting in a total transaction value of $272,604.
Following the sale, Bergman retains ownership of 494,210 shares of Class C Common Stock. Additionally, he holds 26,835 shares of Class A Common Stock. This transaction was executed in multiple trades, with prices ranging from $9.055 to $9.105.
In other recent news, Under Armour has reported its Q2 2025 earnings, exceeding expectations with a $50 million adjusted operating income and revising its outlook for the rest of the fiscal year. Despite an 11% revenue decline to $1.4 billion, the company has seen improvements in gross margins and a reduction in SG&A expenses. Half of the surplus will be reinvested into marketing and brand initiatives, and the company plans to open a new flagship store at its Baltimore headquarters. Under Armour anticipates a low double-digit revenue decline for fiscal 2025, with a 14% to 16% drop expected in North America. However, gross margin expectations have increased, with an improvement of 125 to 150 basis points anticipated. The company's strategic initiatives include expanding the restructuring plan, focusing on logistics optimization. These are among the recent developments at the company.
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