Amer Sports, Inc. (NYSE:AS) is Trivest Advisors Ltd's 10th Largest Position

Key Points

• Trivest Advisors Ltd increased its stake in Amer Sports by 47.9% in the first quarter, making it the firm's 10th largest holding, worth approximately $56.4 million.
• Several institutions, including FMR LLC and Marshall Wace LLP, have significantly increased their stakes in Amer Sports, indicating strong institutional confidence in the company's prospects.
• Amer Sports reported $1.47 billion in revenue for the latest quarter, surpassing estimates, and achieved earnings of $0.27 per share, marking a notable year-over-year increase in profitability.

Trivest Advisors Ltd increased its stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 47.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,110,945 shares of the company's stock after purchasing an additional 683,445 shares during the period. Amer Sports accounts for 4.8% of Trivest Advisors Ltd's investment portfolio, making the stock its 10th largest position. Trivest Advisors Ltd owned about 0.38% of Amer Sports worth $56,426,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC raised its holdings in shares of Amer Sports by 55.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock valued at $97,000 after acquiring an additional 1,250 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Amer Sports by 19.1% in the 1st quarter. Signaturefd LLC now owns 4,925 shares of the company's stock valued at $132,000 after acquiring an additional 789 shares in the last quarter. Keel Point LLC purchased a new stake in shares of Amer Sports in the 4th quarter valued at about $234,000. Vontobel Holding Ltd. purchased a new stake in shares of Amer Sports in the 1st quarter valued at about $245,000. Finally, Sandia Investment Management LP purchased a new stake in shares of Amer Sports in the 4th quarter valued at about $280,000. Hedge funds and other institutional investors own 40.25% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Amer Sports from $45.00 to $46.00 and gave the company an "overweight" rating in a report on Monday. UBS Group restated a "buy" rating and set a $50.00 price target (up from $37.00) on shares of Amer Sports in a research report on Wednesday, May 21st. KGI Securities set a $44.30 price target on Amer Sports and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Piper Sandler began coverage on Amer Sports in a research report on Thursday, June 26th. They set an "overweight" rating and a $45.00 price target on the stock. Finally, Wall Street Zen upgraded Amer Sports from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.74.

Amer Sports Stock Down 3.2%

NYSE:AS traded down $1.21 during trading hours on Friday, reaching $36.33. 2,391,335 shares of the company traded hands, compared to its average volume of 3,958,373. The business's 50-day moving average price is $37.76 and its two-hundred day moving average price is $31.41. The stock has a market capitalization of $20.12 billion, a P/E ratio of 98.67, a P/E/G ratio of 1.58 and a beta of 3.36. Amer Sports, Inc. has a 1 year low of $10.11 and a 1 year high of $40.21. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.24.

Amer Sports (NYSE:AS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. Amer Sports had a return on equity of 7.21% and a net margin of 3.70%. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the business earned $0.08 earnings per share. The company's revenue was up 24.5% on a year-over-year basis. Analysts predict that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

Amer Sports 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.