Amer Sports, Inc. $AS Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Amer Sports stake by 8.6% in Q1, selling 83,219 shares and ending the quarter with 882,093 shares valued at about $29.0 million.
• Insider selling was notable: CEO Stuart Haselden sold 215,275 shares and CEO Jie (James) Zheng sold 500,000 shares, with insiders selling 851,685 shares total over the last 90 days.
• Amer Sports beat earnings expectations in its latest quarter, reporting $0.38 EPS on $1.95 billion in revenue, while analysts generally remain bullish with an average price target of $48.70.

Pictet Asset Management Holding SA lessened its position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 882,093 shares of the company's stock after selling 83,219 shares during the quarter. Pictet Asset Management Holding SA owned about 0.16% of Amer Sports worth $29,039,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AS. Aspex Management HK Ltd grew its holdings in shares of Amer Sports by 27.9% during the 4th quarter. Aspex Management HK Ltd now owns 7,593,627 shares of the company's stock worth $283,622,000 after purchasing an additional 1,658,536 shares during the period. Viking Global Investors LP lifted its position in Amer Sports by 63.5% in the third quarter. Viking Global Investors LP now owns 6,343,481 shares of the company's stock valued at $220,436,000 after buying an additional 2,462,832 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in Amer Sports by 1,306.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,214,439 shares of the company's stock worth $194,759,000 after buying an additional 4,843,742 shares during the period. Avala Global LP boosted its stake in Amer Sports by 38.8% during the fourth quarter. Avala Global LP now owns 4,637,149 shares of the company's stock worth $173,198,000 after buying an additional 1,297,200 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Amer Sports by 57.5% during the third quarter. BNP Paribas Financial Markets now owns 3,991,563 shares of the company's stock valued at $138,707,000 after acquiring an additional 1,457,951 shares during the last quarter. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Stuart Haselden sold 215,275 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $35.57, for a total transaction of $7,657,331.75. Following the completion of the transaction, the chief executive officer directly owned 215,275 shares of the company's stock, valued at approximately $7,657,331.75. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jie (James) Zheng sold 500,000 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $34.42, for a total transaction of $17,210,000.00. Following the sale, the chief executive officer owned 1,262,385 shares in the company, valued at $43,451,291.70. The trade was a 28.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 851,685 shares of company stock valued at $29,856,753.

Amer Sports Price Performance

Shares of AS opened at $34.22 on Thursday. Amer Sports, Inc. has a fifty-two week low of $28.92 and a fifty-two week high of $42.76. The firm's 50 day moving average price is $35.04 and its 200 day moving average price is $36.05. The company has a market cap of $18.95 billion, a P/E ratio of 42.77, a PEG ratio of 1.18 and a beta of 2.05. The company has a quick ratio of 0.82, a current ratio of 1.66 and a debt-to-equity ratio of 0.10.

Amer Sports (NYSE:AS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 19th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.31 by $0.07. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.84 billion. Amer Sports had a net margin of 6.50% and a return on equity of 10.29%. The firm's revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. Amer Sports has set its FY 2026 guidance at 1.180-1.230 EPS. On average, research analysts forecast that Amer Sports, Inc. will post 1.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on AS. Robert W. Baird set a $51.00 price objective on shares of Amer Sports in a report on Wednesday, May 20th. Truist Financial boosted their target price on Amer Sports from $49.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft set a $52.00 price target on Amer Sports in a research note on Wednesday, May 20th. Weiss Ratings raised Amer Sports from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, April 27th. Finally, UBS Group lifted their price objective on Amer Sports from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Amer Sports currently has an average rating of "Buy" and a consensus price target of $48.70.

Amer Sports Company Profile

Amer Sports NYSE: AS is a Helsinki-based sporting goods group that designs, develops and markets performance-oriented equipment, apparel and footwear across multiple sports. The company focuses on product innovation, brand-driven marketing and global distribution to serve athletes and outdoor enthusiasts, offering goods for activities such as skiing, running, hiking, tennis, golf and diving.

Amer Sports' portfolio comprises well-known sports and outdoor brands, including Salomon (outdoor footwear and winter sports), Atomic (alpine skis and ski equipment), Arc'teryx (technical outerwear and climbing gear), Wilson (racquet and ball sports equipment) and Suunto (precision instruments and sports watches).

Want to see what other hedge funds are holding AS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amer Sports, Inc. (NYSE:AS - Free Report).

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.