Engineers Gate Manager LP Sells 225,603 Shares of Amer Sports, Inc. $AS

Key Points

• Engineers Gate Manager LP cut its Amer Sports stake by 26.2%, selling 225,603 shares and retaining 636,241 shares valued at approximately $21.5 million.
• Other institutional investors made significant moves, including new positions by Scopus Asset Management and Balyasny Asset Management; hedge funds and institutions now own 40.25% of Amer Sports.
• Amer Sports reported quarterly earnings of $0.22 per share and revenue of $1.63 billion, exceeding estimates, while analysts maintain a “Moderate Buy” consensus with an average price target of $48.34.

Engineers Gate Manager LP reduced its stake in Amer Sports, Inc. (NYSE:AS - Free Report) by 26.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 636,241 shares of the company's stock after selling 225,603 shares during the period. Engineers Gate Manager LP owned 0.11% of Amer Sports worth $21,530,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AS. Artisan Partners Limited Partnership increased its stake in shares of Amer Sports by 1,306.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,214,439 shares of the company's stock valued at $194,759,000 after buying an additional 4,843,742 shares during the period. Scopus Asset Management L.P. bought a new position in Amer Sports during the 2nd quarter worth about $108,562,000. Viking Global Investors LP grew its holdings in Amer Sports by 63.5% during the 3rd quarter. Viking Global Investors LP now owns 6,343,481 shares of the company's stock worth $220,436,000 after acquiring an additional 2,462,832 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Amer Sports during the 2nd quarter valued at about $87,287,000. Finally, Squarepoint Ops LLC increased its position in Amer Sports by 5,847.1% during the 4th quarter. Squarepoint Ops LLC now owns 1,986,102 shares of the company's stock valued at $74,181,000 after purchasing an additional 1,952,706 shares during the period. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Andrew Page sold 2,022 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $28.63, for a total transaction of $57,889.86. Following the completion of the sale, the chief financial officer owned 6,575 shares in the company, valued at approximately $188,242.25. This represents a 23.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Amer Sports Stock Down 3.2%

NYSE:AS opened at $27.77 on Thursday. Amer Sports, Inc. has a fifty-two week low of $27.71 and a fifty-two week high of $42.76. The stock has a market capitalization of $15.38 billion, a P/E ratio of 29.23, a P/E/G ratio of 0.92 and a beta of 1.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.80 and a current ratio of 1.76. The company's 50-day simple moving average is $33.49 and its 200-day simple moving average is $34.44.

Amer Sports (NYSE:AS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 18th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.11 by $0.11. Amer Sports had a net margin of 7.35% and a return on equity of 11.18%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the business posted $0.03 EPS. Amer Sports's revenue was up 32.1% on a year-over-year basis. Amer Sports has set its FY 2026 guidance at 1.270-1.300 EPS and its Q3 2026 guidance at 0.310-0.330 EPS. On average, equities analysts anticipate that Amer Sports, Inc. will post 1.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AS has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Amer Sports in a research report on Wednesday, August 19th. Barclays lifted their price objective on shares of Amer Sports from $49.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. upped their target price on Amer Sports from $59.00 to $64.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Piper Sandler reaffirmed an "overweight" rating on shares of Amer Sports in a research report on Wednesday, August 19th. Finally, BMO Capital Markets started coverage on Amer Sports in a report on Tuesday. They issued an "outperform" rating and a $38.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.34.

Amer Sports Profile

Amer Sports NYSE: AS is a Helsinki-based sporting goods group that designs, develops and markets performance-oriented equipment, apparel and footwear across multiple sports. The company focuses on product innovation, brand-driven marketing and global distribution to serve athletes and outdoor enthusiasts, offering goods for activities such as skiing, running, hiking, tennis, golf and diving.

Amer Sports' portfolio comprises well-known sports and outdoor brands, including Salomon (outdoor footwear and winter sports), Atomic (alpine skis and ski equipment), Arc'teryx (technical outerwear and climbing gear), Wilson (racquet and ball sports equipment) and Suunto (precision instruments and sports watches).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.