Fairfax Financial Holdings LTD/ CAN and WATSA V PREM ET AL - both identified in filings as ten percent owners of Under Armour, Inc. (NASDAQ:UAA) - completed a series of open-market purchases of Under Armour common stock over a five-day span in late January 2026. The combined purchases of Class A and Class C shares amounted to $14.4 million and were executed between January 22 and January 26, 2026.
The transactions took place at prices that ranged from $6.1453 to $6.2968 per share. On January 22, the group acquired 411,057 Class C Common Shares at a weighted average price of $6.1492, with execution prices between $6.145 and $6.150. The following day, January 23, they bought 928,397 Class C Common Shares at a weighted average price of $6.1453, with individual trade prices recorded between $6.130 and $6.150.
Activity continued on January 26, when 730,238 Class C Common Shares were purchased at a weighted average price of $6.1822, with prices ranging from $6.125 to $6.200. On the same day, the entities acquired 265,658 Class A Common Shares at a weighted average price of $6.2968, with transactions executed in a narrow band from $6.285 to $6.300.
After these purchases, the two entities now indirectly hold 42,224,581 Class A Common Shares and 20,134,314 Class C Common Shares of Under Armour. The filings also disclosed that Fairfax Financial reported a 22.2% stake in Under Armour through a regulatory filing, noting investment purposes and the potential for additional acquisitions.
The share purchases arrive as Under Armour stock has already posted a strong gain year-to-date, rising 27.8%, and was trading at $6.32 at the time of the report. The company was not profitable over the trailing twelve months, although analysts cited in filings expect Under Armour to return to profitability in the current year.
Analyst commentary included in recent filings and reports shows continued interest from the sell side. UBS reiterated a Buy rating on Under Armour with a price target of $8.00, a level the firm indicated implies roughly a 61% upside from the then-current price. UBS also projects a 25% compound annual growth rate in earnings per share over a five-year horizon. Separately, Baird raised its price target on Under Armour to $7.00 from $5.50 while maintaining a Neutral rating, citing potential macroeconomic tailwinds that could support consumer and sporting goods spending.
These ownership updates and analyst revisions together underscore renewed investor attention on Under Armour as the company works toward regaining profitability. The concentrated purchases by significant stakeholders and the accompanying analyst price targets add context to recent trading activity, but the company’s recent unprofitable status over the trailing year remains a material consideration for investors.
Transaction summary
- Period: January 22 - January 26, 2026
- Total reported value: $14.4 million
- Price range: $6.1453 - $6.2968
- Post-transaction holdings: 42,224,581 Class A and 20,134,314 Class C shares
Market context
Under Armour’s shares were up 27.8% year-to-date and trading at $6.32. The company was not profitable over the last twelve months, though analysts expect a return to profitability in the current year. UBS and Baird have provided recent price-target and rating updates reflecting differing levels of conviction and upside potential.