NEW YORK, Jan 9, 2026, 13:03 ET — Regular session
- UAA slid roughly 6% around midday after a new large-holder disclosure hit
- BlackRock said it holds 10.6% of Under Armour’s voting Class A shares
- A Fairfax-led investor group said earlier this week it holds a 22.2% Class A stake
Under Armour’s voting Class A shares (UAA) sank roughly 6% on Friday after a disclosure showed BlackRock owned more than a tenth of the sportswear maker. The stock was off 6.1% at $5.64 by midday, after moving in a range of $6.10 to $5.61.
The timing is awkward for Under Armour. The company is in reset mode, and the stock has started getting jumpy again. Big ownership updates can squeeze the “tradable” float — shares that actually change hands day to day — and that can make price swings sharper.
Investors led by Fairfax Financial Holdings and CEO Prem Watsa said in a Schedule 13D dated Jan. 5 that they hold a 22.2% stake in Under Armour’s Class A shares. A separate Form 4 filing showed the group bought 11.5 million Class A shares and 1.68 million Class C shares on Dec. 30, paying weighted average prices of about $5.14 and $4.95, respectively.
Investors who describe themselves as passive owners typically file on Schedule 13G, while Schedule 13D spells out stakes and intentions in greater detail. Under Armour’s setup also curbs outside influence: Class A carries one vote per share, Class C has no voting rights in director elections, and founder Kevin Plank controls super-voting Class B stock.
Based in Baltimore, the company last trimmed its outlook in November, saying soft demand and tariff-related costs would drag full-year revenue down 4% to 5% and adjusted profit to 3 to 5 cents a share, Reuters reported. “Eighteen months into its turnaround plan, Under Armour appears to be struggling to navigate both a challenging external environment and internal missteps,” eMarketer analyst Sky Canaves said then.
Even with Friday’s slide, UAA is still above its 52-week low of $4.13, but it’s nowhere near the $8.72 high, the company said. For plenty of traders, that range is the main focus right now, more so than the filings themselves.
Big stakes work both ways. If the next quarterly update shows another hit to demand or margins, the stock can gap in a hurry, and large holders can cut positions just as fast as they put them on.
Next up is the fiscal third-quarter report. TipRanks has it penciled in for Feb. 5, before the U.S. market opens, and the site shows analysts looking for a loss of 2 cents a share. Investors will be focused on any shift in guidance, and whether the turnaround is showing up in product traction instead of cost cuts. 1
