Fred Alger Management LLC Has $352,000 Stock Holdings in 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 cut its holdings in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 83.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Amer Sports in the first quarter valued at $34,000. Colonial Trust Advisors bought a new stake in shares of Amer Sports during the 1st quarter worth about $93,000. Signaturefd LLC grew its stake in Amer Sports by 19.1% in the 1st quarter. Signaturefd LLC now owns 4,925 shares of the company's stock valued at $132,000 after buying an additional 789 shares during the last quarter. Vontobel Holding Ltd. bought a new position in Amer Sports in the 1st quarter valued at about $245,000. Finally, Sandia Investment Management LP acquired a new stake in Amer Sports during the fourth quarter worth approximately $280,000. Institutional investors and hedge funds own 40.25% of the company's stock.

Amer Sports Price Performance

NYSE:AS traded down $0.03 during mid-day trading on Tuesday, reaching $37.21. The stock had a trading volume of 2,705,295 shares, compared to its average volume of 4,558,457. Amer Sports, Inc. has a 12 month low of $14.51 and a 12 month high of $42.36. The stock has a market capitalization of $20.61 billion, a PE ratio of 90.76, a P/E/G ratio of 1.25 and a beta of 3.30. 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 stock has a 50-day simple moving average of $38.15 and a two-hundred day simple moving average of $33.14.

Amer Sports (NYSE:AS - Get Free Report) last issued its earnings results on Tuesday, August 19th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.04. Amer Sports had a return on equity of 6.87% and a net margin of 3.93%.The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the business posted $0.05 EPS. The company'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, equities analysts anticipate that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on AS shares. TD Securities upped their target price on Amer Sports from $30.00 to $41.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. 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. The Goldman Sachs Group increased their price objective on Amer Sports from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company set a $35.00 target price on shares of Amer Sports and gave the company an "equal weight" rating in a research report on Wednesday, May 21st. Finally, Hsbc Global Res raised shares of Amer Sports from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $41.62.

Amer Sports Company 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.