Amer Sports, Inc. $AS Position Lowered by WT Asset Management Ltd

Key Points

• WT Asset Management Ltd reduced its stake in Amer Sports, Inc. by 55.0% during Q2, now owning 1,088,201 shares valued at approximately $42.2 million, making it the 9th largest holding for the firm.
• Multiple hedge funds have modified their positions in Amer Sports, with 40.25% of the stock currently held by institutional investors.
• JPMorgan Chase & Co. raised its target price for Amer Sports from $46.00 to $53.00, while other brokerages provided varying ratings, reflecting a generally positive outlook with an average rating of "Moderate Buy."

WT Asset Management Ltd reduced its stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 55.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,088,201 shares of the company's stock after selling 1,328,695 shares during the quarter. Amer Sports accounts for approximately 3.0% of WT Asset Management Ltd's holdings, making the stock its 9th largest holding. WT Asset Management Ltd owned about 0.20% of Amer Sports worth $42,179,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Quarry LP purchased a new stake in shares of Amer Sports during the 1st quarter valued at about $34,000. Colonial Trust Advisors purchased a new stake in shares of Amer Sports during the 1st quarter valued at about $93,000. GAMMA Investing LLC raised its holdings in shares of Amer Sports by 17.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,614 shares of the company's stock valued at $101,000 after buying an additional 387 shares during the period. Signaturefd LLC raised its holdings in shares of Amer Sports by 19.1% during the 1st quarter. Signaturefd LLC now owns 4,925 shares of the company's stock valued at $132,000 after buying an additional 789 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Amer Sports during the 2nd quarter valued at about $189,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on AS. JPMorgan Chase & Co. raised their target price on Amer Sports from $46.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Amer Sports in a report on Saturday, September 27th. KGI Securities set a $44.30 price objective on Amer Sports and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Morgan Stanley set a $41.00 price objective on Amer Sports and gave the company a "positive" rating in a research note on Monday, September 22nd. Finally, Nomura Securities lowered Amer Sports from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Amer Sports has an average rating of "Moderate Buy" and an average target price of $43.49.

Amer Sports Price Performance

Shares of AS opened at $34.39 on Friday. The firm has a market cap of $19.05 billion, a price-to-earnings ratio of 83.89, a PEG ratio of 1.13 and a beta of 3.04. The stock has a 50 day moving average of $37.37 and a 200-day moving average of $33.77. The company has a current ratio of 1.60, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. Amer Sports, Inc. has a 52 week low of $16.72 and a 52 week high of $42.36.

Amer Sports (NYSE:AS - Get Free Report) last issued its earnings results on Tuesday, August 19th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. Amer Sports had a return on equity of 6.87% and a net margin of 3.93%.The business's revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 EPS. Amer Sports has set its FY 2025 guidance at 0.770-0.820 EPS. Q3 2025 guidance at 0.200-0.220 EPS. As a group, analysts forecast that Amer Sports, Inc. will post 0.46 EPS for the current year.

Amer Sports Company Profile

Amer Sports, Inc designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, China, and the Asia Pacific. It operates through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.