Under Armour: hedge fund Adage Capital discloses stake
(CercleFinance.com) - Adage Capital Partners has disclosed a stake in US sportswear maker Under Armour, a filing with the Securities and Exchange Commission showed on Friday.
The hedge fund now has a 5.88% interest in maker Under Armour, or 11,036,373 shares, according to the filing.
The announcement comes after Under Armour lost almost 30% of its market cap over the last two weeks, on the back of an "unconvincing" investor day held on 12 December.
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