Amer Sports, Inc. (NYSE:AS) Shares Sold by Renaissance Capital LLC

Renaissance Capital LLC trimmed its position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 7.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,316 shares of the company's stock after selling 10,381 shares during the period. Amer Sports accounts for approximately 2.6% of Renaissance Capital LLC's holdings, making the stock its 18th biggest position. Renaissance Capital LLC's holdings in Amer Sports were worth $3,350,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AS. Sterling Capital Management LLC increased its stake in 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 buying an additional 1,250 shares during the period. Signaturefd LLC grew its holdings in Amer Sports by 35.0% during the 4th quarter. Signaturefd LLC now owns 4,136 shares of the company's stock worth $116,000 after acquiring an additional 1,073 shares during the last quarter. Mainstream Capital Management LLC bought a new position in shares of Amer Sports in the 4th quarter valued at about $190,000. Keel Point LLC acquired a new stake in Amer Sports during the 4th quarter worth approximately $234,000. Finally, Choreo LLC acquired a new stake in shares of Amer Sports in the fourth quarter valued at approximately $250,000. 40.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AS has been the subject of a number of recent research reports. Citigroup reissued a "buy" rating and issued a $42.00 target price (up previously from $30.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Wells Fargo & Company set a $35.00 price target on shares of Amer Sports and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. UBS Group reaffirmed a "buy" rating and set a $50.00 price objective (up from $37.00) on shares of Amer Sports in a report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price target on shares of Amer Sports from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Morgan Stanley upped their price objective on shares of Amer Sports from $28.00 to $33.00 and gave the company an "equal weight" rating in a report on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.67.

Amer Sports Stock Performance

Shares of Amer Sports stock opened at $37.53 on Friday. The company has a market capitalization of $20.79 billion, a PE ratio of -268.05, a P/E/G ratio of 0.72 and a beta of 3.64. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. The company has a 50-day simple moving average of $28.45 and a two-hundred day simple moving average of $28.55. Amer Sports, Inc. has a one year low of $10.11 and a one year high of $38.51.

Amer Sports (NYSE:AS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company's revenue for the quarter was up 24.5% compared to the same quarter last year. Research analysts expect that Amer Sports, Inc. will post 0.46 EPS for the current fiscal 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.

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