Capricorn Fund Managers Ltd Sells 25,000 Shares of Amer Sports, Inc. (NYSE:AS)

Key Points

• Capricorn Fund Managers Ltd has reduced its holdings in Amer Sports, Inc. by 18.5%, owning 110,000 shares after selling 25,000 shares in the 1st quarter.
• Amer Sports' stock recently opened at $38.60, demonstrating a market cap of $21.38 billion and a significant rise in earnings per share to $0.27 for the recent quarter.
• Recent analyst ratings have shown an optimistic outlook for Amer Sports, with several firms raising their price targets, including Goldman Sachs with a new target of $45.00.

Capricorn Fund Managers Ltd trimmed its holdings in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 18.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 110,000 shares of the company's stock after selling 25,000 shares during the period. Amer Sports makes up 1.6% of Capricorn Fund Managers Ltd's investment portfolio, making the stock its 28th largest holding. Capricorn Fund Managers Ltd's holdings in Amer Sports were worth $2,940,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AS. FMR LLC lifted its holdings in shares of Amer Sports by 250.7% in the 4th quarter. FMR LLC now owns 26,414,511 shares of the company's stock worth $738,550,000 after purchasing an additional 18,881,504 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Amer Sports by 262.5% in the 4th quarter. Marshall Wace LLP now owns 3,316,167 shares of the company's stock worth $92,720,000 after purchasing an additional 2,401,302 shares in the last quarter. Junto Capital Management LP bought a new position in shares of Amer Sports in the 4th quarter worth $66,793,000. Oxbow Capital Management HK Ltd bought a new position in shares of Amer Sports in the 4th quarter worth $41,940,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Amer Sports by 14,640.1% in the 1st quarter. SG Americas Securities LLC now owns 1,418,001 shares of the company's stock worth $37,903,000 after purchasing an additional 1,408,381 shares in the last quarter. 40.25% of the stock is currently owned by institutional investors.

Amer Sports Trading Up 1.4%

Shares of AS traded up $0.52 during mid-day trading on Wednesday, hitting $38.86. 2,435,130 shares of the company's stock traded hands, compared to its average volume of 2,745,087. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.24. Amer Sports, Inc. has a 1 year low of $10.11 and a 1 year high of $40.21. The firm has a market capitalization of $21.52 billion, a P/E ratio of 105.03, a PEG ratio of 1.56 and a beta of 3.36. The business's 50-day moving average price is $37.71 and its 200-day moving average price is $31.30.

Amer Sports (NYSE:AS - Get Free Report) last issued 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. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations 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 period in the prior year, the firm earned $0.08 earnings per share. As a group, sell-side analysts forecast that Amer Sports, Inc. will post 0.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup reissued a "buy" rating and issued a $42.00 price target (up from $30.00) on shares of Amer Sports in a research report on Wednesday, May 21st. KGI Securities set a $44.30 target price on Amer Sports and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Wells Fargo & Company set a $35.00 target price on Amer Sports and gave the company an "equal weight" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group raised their target price on Amer Sports from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Finally, UBS Group reaffirmed a "buy" rating and set a $50.00 target price (up 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $38.74.

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.