6,459,278 Shares in Amer Sports, Inc. $AS Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,459,278 shares of the company's stock, valued at approximately $176,274,000. Assenagon Asset Management S.A. owned 1.17% of Amer Sports as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its stake in Amer Sports by 84.3% in the first quarter. EverSource Wealth Advisors LLC now owns 761 shares of the company's stock valued at $25,000 after buying an additional 348 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Amer Sports by 1,030.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 814 shares of the company's stock worth $30,000 after acquiring an additional 742 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Amer Sports by 45.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,718 shares of the company's stock worth $47,000 after acquiring an additional 534 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Amer Sports during the second quarter valued at approximately $99,000. Finally, PNC Financial Services Group Inc. grew its holdings in Amer Sports by 135.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,090 shares of the company's stock valued at $102,000 after purchasing an additional 1,777 shares during the period. Institutional investors and hedge funds own 40.25% of the company's stock.

Insiders Place Their Bets

In other news, CFO Andrew Page sold 2,022 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $28.63, for a total value of $57,889.86. Following the sale, the chief financial officer owned 6,575 shares of the company's stock, valued at $188,242.25. The trade was a 23.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Wen-Chang Chen sold 117,461 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $26.60, for a total transaction of $3,124,462.60. Following the transaction, the insider owned 434,855 shares of the company's stock, valued at $11,567,143. The trade was a 21.27% decrease in their position. The SEC filing for this sale provides additional information.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AS. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Amer Sports in a research note on Wednesday, August 19th. Truist Financial decreased their target price on Amer Sports from $50.00 to $42.00 and set a "buy" rating for the company in a research note on Wednesday, August 19th. Barclays increased their price target on Amer Sports from $49.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, August 19th. Wells Fargo & Company dropped their price target on Amer Sports from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Friday, September 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Amer Sports from $59.00 to $64.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Amer Sports currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.59.

Amer Sports Stock Up 3.6%

NYSE:AS opened at $29.87 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.80 and a current ratio of 1.76. The company has a market cap of $16.54 billion, a PE ratio of 23.24, a PEG ratio of 0.92 and a beta of 2.04. Amer Sports, Inc. has a 52-week low of $26.10 and a 52-week high of $42.76. The stock has a 50-day simple moving average of $29.52 and a 200 day simple moving average of $33.08.

Amer Sports (NYSE:AS - Get Free Report) last announced its earnings results on Monday, August 17th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.11. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Amer Sports had a return on equity of 11.18% and a net margin of 7.35%. Amer Sports's revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 EPS. On average, sell-side analysts expect that Amer Sports, Inc. will post 1.30 EPS for the current fiscal year.

Amer Sports Profile

Amer Sports, Inc NYSE: AS is a global sporting and outdoor goods company that develops, manufactures and markets equipment, apparel, footwear and accessories for consumers and athletes. Its portfolio spans outdoor, winter sports, racquet sports and fitness categories, with products sold through wholesale partners, company-operated stores and digital channels.

The company's brand portfolio includes Arc'teryx, known for technical outdoor apparel and equipment; Salomon, which offers trail-running, hiking and winter-sports products; Wilson, a manufacturer of tennis, padel, baseball, basketball and other sporting equipment; Atomic and Armada, which focus on snow sports; and Peak Performance, an outdoor and ski apparel brand.

Amer Sports serves customers internationally across North America, Europe, Asia and other global markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.