Home / Business and Economy / Watsa Buys Big in Under Armour Stock
Watsa Buys Big in Under Armour Stock
14 Jun
Summary
- 1,178,344 Under Armour shares purchased.
- Purchase made via Fairfax Financial subsidiaries.
- Transaction represents incremental position building.
V. Prem Et Al Watsa, identified as a 10% owner, recently reported the purchase of 1,178,344 shares of Under Armour, Inc. (NYSE:UA) through three separate open-market transactions. The total economic exposure to Under Armour for Watsa has marginally increased following this acquisition.
These shares were acquired indirectly, now held through subsidiaries and related entities of Fairfax Financial Holdings Limited, with no direct holdings reported post-transaction. This purchase represented 2.74% of Watsa's total indirect holdings prior to the trade, indicating a strategy of incremental position building.
It is important to note that Watsa maintains significant holdings of Class A Common Shares, which are convertible. Therefore, this transaction impacts only the Common Stock class and does not reflect a change in the overall ownership perspective. Under Armour, Inc. is a global provider of sportswear and athletic footwear, generating revenue through wholesale, direct-to-consumer retail, e-commerce, and digital platforms.
