73,000 Shares of Amer Sports, Inc. $AS Bought by Bright Rock Capital Management LLC

Key Points

• Bright Rock Capital Management acquired 73,000 Amer Sports shares worth approximately $1.99 million, while institutional investors collectively own 40.25% of the company.
• Amer Sports reported stronger-than-expected quarterly results, with EPS of $0.22 versus estimates of $0.11 and revenue up 32.1% year over year to $1.63 billion.
• The stock recently traded at $27.36, down substantially from its 52-week high of $42.76. Analysts maintain a consensus “Moderate Buy” rating with a $44.77 price target, although insiders—including the CFO—recently sold shares.

Bright Rock Capital Management LLC acquired a new position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 73,000 shares of the company's stock, valued at approximately $1,992,000.

Several other institutional investors have also recently bought and sold shares of AS. Ogborne Capital Management LLC bought a new position in shares of Amer Sports during the 4th quarter worth approximately $22,257,000. Norges Bank bought a new stake in shares of Amer Sports in the fourth quarter worth $70,055,000. C WorldWide Group Holding A S boosted its holdings in Amer Sports by 41.0% during the second quarter. C WorldWide Group Holding A S now owns 296,653 shares of the company's stock worth $10,039,000 after purchasing an additional 86,327 shares during the last quarter. Legal & General Group Plc boosted its holdings in Amer Sports by 670.1% during the fourth quarter. Legal & General Group Plc now owns 118,455 shares of the company's stock worth $4,424,000 after purchasing an additional 103,074 shares during the last quarter. Finally, Capricorn Fund Managers Ltd grew its position in Amer Sports by 711.4% in the first quarter. Capricorn Fund Managers Ltd now owns 185,000 shares of the company's stock valued at $6,090,000 after purchasing an additional 162,200 shares in the last quarter. Institutional investors own 40.25% of the company's stock.

Amer Sports Trading Up 0.7%

Shares of NYSE:AS traded up $0.19 during midday trading on Monday, reaching $27.36. The company's stock had a trading volume of 1,251,821 shares, compared to its average volume of 5,050,401. Amer Sports, Inc. has a fifty-two week low of $26.10 and a fifty-two week high of $42.76. 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 firm has a 50 day moving average price of $30.93 and a two-hundred day moving average price of $33.36. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 0.86 and a beta of 2.04.

Amer Sports (NYSE:AS - Get Free Report) last released its earnings results on Monday, August 17th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.11 by $0.11. Amer Sports had a return on equity of 11.18% and a net margin of 7.35%.The business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter last year, the firm posted $0.03 earnings per share. The firm's revenue was up 32.1% on a year-over-year basis. As a group, analysts forecast that Amer Sports, Inc. will post 1.3 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on AS. UBS Group set a $38.00 price target on Amer Sports in a report on Monday, September 21st. Piper Sandler reaffirmed an "overweight" rating on shares of Amer Sports in a research report on Wednesday, August 19th. Wells Fargo & Company decreased 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. Weiss Ratings downgraded shares of Amer Sports from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 19th. Finally, Morgan Stanley began coverage on Amer Sports in a research report on Thursday, September 10th. They set an "equal weight" rating and a $31.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.77.

Insider Activity at Amer Sports

In related news, CFO Andrew E. Page sold 2,022 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $28.63, for a total transaction of $57,889.86. Following the transaction, the chief financial officer directly owned 6,575 shares of the company's stock, valued at $188,242.25. This represents a 23.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Amer Sports stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $26.60, for a total transaction of $3,124,462.60. Following the completion of the sale, the insider directly owned 434,855 shares of the company's stock, valued at approximately $11,567,143. This trade represents a 21.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

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.

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