Amer Sports, Inc. $AS Shares Acquired by Vontobel Holding Ltd.

Key Points

• Vontobel Holding increased its Amer Sports stake by 346.9% in the third quarter, owning 48,958 shares valued at approximately $1.34 million. Other major institutions, including Assenagon and Junto Capital, also built sizable positions; institutional investors own 40.25% of the company.
• Amer Sports reported quarterly revenue of $1.63 billion, up 32.1% year over year, and EPS of $0.22, surpassing analysts’ $0.11 estimate. Analysts expect full-year EPS of $1.30.
• The stock opened at $30.28, well below its $42.76 annual high. Despite insider share sales, Wall Street maintains a “Moderate Buy” consensus with an average price target of $44.59.

Vontobel Holding Ltd. increased its holdings in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 346.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,958 shares of the company's stock after purchasing an additional 38,004 shares during the quarter. Vontobel Holding Ltd.'s holdings in Amer Sports were worth $1,336,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in Amer Sports in the 3rd quarter valued at $176,274,000. Junto Capital Management LP boosted its stake in shares of Amer Sports by 583.8% during the 2nd quarter. Junto Capital Management LP now owns 3,099,673 shares of the company's stock worth $104,893,000 after buying an additional 2,646,364 shares during the last quarter. CI Investments Inc. acquired a new position in shares of Amer Sports during the 1st quarter worth about $56,127,000. Temasek Holdings Private Ltd boosted its stake in shares of Amer Sports by 42.1% during the 1st quarter. Temasek Holdings Private Ltd now owns 3,665,157 shares of the company's stock worth $120,657,000 after buying an additional 1,086,616 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Amer Sports in the 1st quarter valued at about $26,491,000. Institutional investors and hedge funds own 40.25% of the company's stock.

Amer Sports Stock Performance

Shares of AS opened at $30.28 on Tuesday. The company has a market cap of $16.77 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 0.95 and a beta of 2.04. The firm has a 50-day moving average of $29.26 and a 200-day moving average of $33.06. Amer Sports, Inc. has a one year low of $26.10 and a one year high of $42.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 0.80.

Amer Sports (NYSE:AS - Get Free Report) last issued 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. Amer Sports had a net margin of 7.35% and a return on equity of 11.18%. The company had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same period in the prior year, the firm earned $0.03 EPS. Amer Sports's quarterly revenue was up 32.1% compared to the same quarter last year. As a group, equities analysts forecast that Amer Sports, Inc. will post 1.30 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AS. Wells Fargo & Company dropped their target price on Amer Sports from $45.00 to $40.00 and set an "overweight" rating on the stock in a report on Friday, September 18th. Morgan Stanley began coverage on Amer Sports in a research note on Thursday, September 10th. They issued an "equal weight" rating and a $31.00 price target for the company. Weiss Ratings downgraded Amer Sports from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, August 19th. Jefferies Financial Group initiated coverage on Amer Sports in a research report on Tuesday, October 13th. They set a "buy" rating and a $42.00 price target on the stock. Finally, Piper Sandler reiterated an "overweight" rating on shares of Amer Sports in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Amer Sports presently has an average rating of "Moderate Buy" and an average target price of $44.59.

Insider Buying and Selling

In other Amer Sports news, insider Wen-Chang Chen sold 117,461 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $26.60, for a total value of $3,124,462.60. Following the sale, the insider owned 434,855 shares in the company, valued at $11,567,143. This represents a 21.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew E. Page sold 2,022 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 6,575 shares of the company's stock, valued at approximately $188,242.25. The trade was a 23.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

About Amer Sports

Amer Sports, Inc is a global sporting and outdoor equipment company that develops, manufactures and markets apparel, footwear, equipment and accessories. Its portfolio includes internationally recognized brands such as Arc'teryx, Salomon, Wilson, Peak Performance, Atomic and ENVE.

The company organizes its business around outdoor and performance sports, including mountain sports, winter sports, trail running, hiking and other outdoor activities, as well as ball and racquet sports. Its products range from technical apparel and footwear to skis, snowboarding equipment, bicycles, tennis and padel racquets, team-sport equipment and related accessories.

Amer Sports traces its origins to Finland, where it was established in 1950, and serves consumers through wholesale and direct-to-consumer channels across North America, Europe, Asia and other international markets.

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