Fred Alger Management LLC Sells 68,089 Shares of Amer Sports, Inc. $AS

Key Points

• Fred Alger Management LLC has reduced its holdings in Amer Sports by 83.8%, now owning only 13,161 shares after selling 68,089 shares in the first quarter.
• The stock's market capitalization stands at $20.29 billion, with a recent trading price of $36.63 and a 52-week range of $13.43 to $42.36.
• Institutional ownership in Amer Sports is significant, with various investors adjusting their positions, leading to a current ownership of 40.25% among institutions.

Fred Alger Management LLC lessened its holdings in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 83.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,161 shares of the company's stock after selling 68,089 shares during the quarter. Fred Alger Management LLC's holdings in Amer Sports were worth $352,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AS. SG Americas Securities LLC raised its position in Amer Sports by 14,640.1% during the first quarter. SG Americas Securities LLC now owns 1,418,001 shares of the company's stock valued at $37,903,000 after acquiring an additional 1,408,381 shares in the last quarter. Deutsche Bank AG raised its position in shares of Amer Sports by 812.5% in the fourth quarter. Deutsche Bank AG now owns 921,554 shares of the company's stock valued at $25,767,000 after purchasing an additional 820,560 shares during the period. Vident Advisory LLC bought a new position in shares of Amer Sports in the fourth quarter valued at approximately $19,791,000. Trivest Advisors Ltd raised its position in shares of Amer Sports by 47.9% in the first quarter. Trivest Advisors Ltd now owns 2,110,945 shares of the company's stock valued at $56,426,000 after purchasing an additional 683,445 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in shares of Amer Sports in the fourth quarter valued at approximately $18,641,000. Institutional investors own 40.25% of the company's stock.

Amer Sports Stock Down 0.2%

AS opened at $36.63 on Thursday. Amer Sports, Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $42.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.60 and a quick ratio of 0.61. The firm's fifty day moving average price is $38.27 and its two-hundred day moving average price is $32.90. The company has a market capitalization of $20.29 billion, a P/E ratio of 89.34, a P/E/G ratio of 1.23 and a beta of 3.30.

Amer Sports (NYSE:AS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.04. Amer Sports had a net margin of 3.93% and a return on equity of 6.87%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company earned $0.05 earnings per share. The business's revenue was up 23.4% compared to the same quarter last year. Amer Sports has set its FY 2025 guidance at 0.770-0.820 EPS. Q3 2025 guidance at 0.200-0.220 EPS. On average, analysts anticipate that Amer Sports, Inc. will post 0.46 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Amer Sports from $45.00 to $46.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Zacks Research lowered shares of Amer Sports from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. The Goldman Sachs Group lifted their price target on shares of Amer Sports from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. KGI Securities set a $44.30 price target on shares of Amer Sports and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Finally, Piper Sandler assumed coverage on shares of Amer Sports in a research report on Thursday, June 26th. They issued an "overweight" rating and a $45.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Amer Sports currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.62.

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.

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