NEW YORK, December 31, 2025, 05:37 ET — Premarket
- Under Armour Class A shares (UAA) were flat in premarket trading after a sharp jump in the prior session.
- Fairfax-linked entities disclosed about $71 million in late-December purchases across Under Armour’s two share classes, a Form 4 showed.
- A Schedule 13G filing showed Fairfax and affiliates now hold 16.1% of Under Armour’s Class A stock.
Under Armour’s Class A shares were flat in premarket trading on Wednesday at $5.14, after surging in the prior session on disclosures that Fairfax Financial and related entities had been buying the sportswear maker’s stock.
The buying matters because it comes with Under Armour still trying to rebuild investor confidence after a long stretch of choppy sales trends and restructuring actions, while its stock trades far below its highs of the past year.
Large purchases by a “10% owner” — SEC shorthand for a shareholder with at least a 10% stake — often draw traders’ attention because U.S. rules require that holder to disclose buying and selling quickly, reducing uncertainty about who is accumulating shares. SEC
In a Form 4 filed late Monday, Fairfax-controlled entities reported buying a combined 15.68 million Under Armour shares between Dec. 22 and Dec. 29 for about $71.0 million, at weighted-average prices ranging roughly from $4.36 to $4.73.
The filing showed Fairfax and affiliates ended that period with 30.45 million Class A shares and 7.78 million Class C shares held indirectly through wholly owned subsidiaries.
A separate Schedule 13G amendment said Fairfax-linked reporting persons beneficially owned 30.45 million Class A shares, representing 16.1% of the class based on shares outstanding as of Oct. 31, 2025. (A Schedule 13G is the SEC filing large investors typically use to disclose stakes when they say they are not seeking control.)
In Tuesday’s regular session, Class A shares (UAA) closed up 7.53% at $5.14, while Class C shares (UA) gained 8.59% to $4.93; early Wednesday, UA slipped 0.61% in premarket to $4.90.
Under Armour’s move outpaced larger athleticwear names on the day, with Nike ending slightly lower while Deckers rose modestly, according to MarketWatch data.
Under Armour has two publicly traded share classes on the NYSE — UAA (Class A) and UA (Class C) — and both have been hovering near the lower end of their 52-week range, after touching a low of $4.13 and a high of $8.72.
The Baltimore-based company has been working through a turnaround under founder Kevin Plank, who returned as CEO in April 2024. “Eighteen months into its turnaround plan, Under Armour appears to be struggling to navigate both a challenging external environment and internal missteps,” said eMarketer analyst Sky Canaves. (Story: Reuters, Nov. 6) Reuters+1
Credit markets are also on watch: S&P Global placed Under Armour’s ratings on downgrade watch in late November, citing continued restructuring challenges and sales declines, and said it would resolve the watch placement within about 90 days depending in part on holiday sales and profitability. (Story: Reuters, Nov. 25)
On the Street, Under Armour’s analyst consensus remains cautious, with a “Hold” rating and an average 12-month price target of about $6.18, according to StockAnalysis. StockAnalysis
For the session ahead, traders will watch whether the insider buying triggers follow-on stake disclosures and whether UAA can hold above the $5 level after Tuesday’s spike; the next quarterly results are not yet company-confirmed, but MarketBeat estimates a Feb. 5 report before the open based on past patterns. (Calendar: MarketBeat)
