Amer Sports, Inc. (NYSE:AS) Shares Sold by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd has drastically reduced its stake in Amer Sports, cutting its holdings by 59.7% to 12,256 shares, now valued at $327,000.
• Multiple hedge funds have adjusted their stakes, with Sterling Capital Management increasing its position by 55.9% to 3,487 shares, indicating ongoing interest in Amer Sports stock.
• Analysts have mixed ratings on Amer Sports, with a consensus price target of $38.74 and recent upgrades, positioning it as a "Moderate Buy."

Harvest Fund Management Co. Ltd lessened its holdings in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 59.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,256 shares of the company's stock after selling 18,187 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Amer Sports were worth $327,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Signaturefd LLC grew its stake in 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 purchasing an additional 789 shares in the last quarter. Sterling Capital Management LLC grew its stake in Amer Sports by 55.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock valued at $97,000 after purchasing an additional 1,250 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in Amer Sports by 5.3% during the 1st quarter. Pinnacle Associates Ltd. now owns 55,895 shares of the company's stock valued at $1,494,000 after purchasing an additional 2,825 shares in the last quarter. New York State Common Retirement Fund grew its stake in Amer Sports by 16.4% during the 1st quarter. New York State Common Retirement Fund now owns 28,400 shares of the company's stock valued at $759,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in Amer Sports by 37.5% during the 4th quarter. Quantinno Capital Management LP now owns 15,551 shares of the company's stock valued at $435,000 after purchasing an additional 4,240 shares in the last quarter. Institutional investors and hedge funds own 40.25% of the company's stock.

Amer Sports Stock Performance

Shares of NYSE AS traded down $1.05 during mid-day trading on Friday, hitting $36.49. The company had a trading volume of 3,471,816 shares, compared to its average volume of 2,664,172. The stock has a market cap of $20.21 billion, a price-to-earnings ratio of 58.89, a PEG ratio of 1.49 and a beta of 3.31. Amer Sports, Inc. has a 12 month low of $10.11 and a 12 month high of $40.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 0.80. The firm's 50 day simple moving average is $37.74 and its two-hundred day simple moving average is $31.46.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley lifted their target price on Amer Sports from $28.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 21st. Wells Fargo & Company set a $35.00 target price on Amer Sports and gave the stock an "equal weight" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. lifted their target price on Amer Sports from $45.00 to $46.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. KGI Securities set a $44.30 target price on Amer Sports and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Finally, UBS Group reiterated a "buy" rating and issued a $50.00 target price (up previously from $37.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $38.74.

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.