Brown Advisory Inc. Cuts Stock Position in Amer Sports, Inc. (NYSE:AS)

Brown Advisory Inc. cut its position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 19.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,143,373 shares of the company's stock after selling 1,026,615 shares during the period. Brown Advisory Inc. owned about 0.75% of Amer Sports worth $110,752,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC raised its position in Amer Sports by 250.7% during the 4th quarter. FMR LLC now owns 26,414,511 shares of the company's stock valued at $738,550,000 after purchasing an additional 18,881,504 shares in the last quarter. Brilliance Asset Management Ltd. raised its position in Amer Sports by 5.1% during the 4th quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company's stock valued at $113,883,000 after purchasing an additional 196,380 shares in the last quarter. Candlestick Capital Management LP raised its position in Amer Sports by 1.7% during the 4th quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company's stock valued at $108,052,000 after purchasing an additional 63,078 shares in the last quarter. Marshall Wace LLP raised its position 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 purchasing an additional 2,401,302 shares in the last quarter. Finally, Junto Capital Management LP bought a new stake in Amer Sports during the 4th quarter valued at $66,793,000. 40.25% of the stock is owned by institutional investors.

Amer Sports Stock Performance

AS stock traded down $0.50 during midday trading on Tuesday, hitting $37.81. 2,755,742 shares of the stock traded hands, compared to its average volume of 3,161,368. The stock's fifty day simple moving average is $34.54 and its 200-day simple moving average is $30.29. Amer Sports, Inc. has a 1-year low of $10.11 and a 1-year high of $40.21. The firm has a market cap of $20.94 billion, a P/E ratio of 102.19, a PEG ratio of 1.59 and a beta of 3.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 0.80.

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

Wall Street Analysts Forecast Growth

AS has been the subject of several recent research reports. 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. The Goldman Sachs Group upped their price objective on shares of Amer Sports from $28.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Wall Street Zen upgraded shares of Amer Sports from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Citigroup restated a "buy" rating and set a $42.00 price objective (up previously from $30.00) on shares of Amer Sports in a report on Wednesday, May 21st. Finally, TD Securities upped their price objective on shares of Amer Sports from $30.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Four investment 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 company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.81.

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.