Amer Sports, Inc. (NYSE:AS) Shares Sold by WT Asset Management Ltd

WT Asset Management Ltd lessened its stake in Amer Sports, Inc. (NYSE:AS - Free Report) by 33.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,416,896 shares of the company's stock after selling 1,189,467 shares during the quarter. Amer Sports accounts for approximately 7.5% of WT Asset Management Ltd's holdings, making the stock its 5th biggest position. WT Asset Management Ltd owned approximately 0.44% of Amer Sports worth $64,604,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Amer Sports by 250.7% during the fourth quarter. FMR LLC now owns 26,414,511 shares of the company's stock valued at $738,550,000 after buying an additional 18,881,504 shares during the last quarter. Marshall Wace LLP lifted its stake in Amer Sports by 262.5% during the 4th quarter. Marshall Wace LLP now owns 3,316,167 shares of the company's stock valued at $92,720,000 after acquiring an additional 2,401,302 shares during the period. Junto Capital Management LP purchased a new stake in shares of Amer Sports during the 4th quarter valued at about $66,793,000. Oxbow Capital Management HK Ltd bought a new stake in shares of Amer Sports in the fourth quarter worth approximately $41,940,000. Finally, Trivest Advisors Ltd purchased a new position in shares of Amer Sports during the fourth quarter valued at approximately $39,913,000. Institutional investors own 40.25% of the company's stock.

Amer Sports Price Performance

AS stock traded up $0.35 during midday trading on Wednesday, reaching $38.02. The stock had a trading volume of 1,969,402 shares, compared to its average volume of 3,129,263. Amer Sports, Inc. has a 52-week low of $10.11 and a 52-week 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. The company's fifty day simple moving average is $33.37 and its 200 day simple moving average is $29.98. The company has a market cap of $21.06 billion, a price-to-earnings ratio of 102.62, a price-to-earnings-growth ratio of 1.44 and a beta of 3.38.

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 net margin of 3.70% and a return on equity of 7.21%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm posted $0.08 earnings per share. The company's revenue for the quarter was up 24.5% on a year-over-year basis. As a group, sell-side analysts predict that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler assumed coverage on shares of Amer Sports in a report on Thursday, June 26th. They issued an "overweight" rating and a $45.00 target price on the stock. The Goldman Sachs Group raised their price target on Amer Sports from $28.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Morgan Stanley lifted their price objective on Amer Sports from $28.00 to $33.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 21st. Wall Street Zen raised Amer Sports from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, KGI Securities set a $44.30 price target on Amer Sports and gave the company an "outperform" rating in a research note on Wednesday, June 25th. 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $37.81.

About Amer Sports

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.