GAM Holding AG Lowers Stock Holdings in Amer Sports, Inc. (NYSE:AS)

GAM Holding AG reduced its position in Amer Sports, Inc. (NYSE:AS - Free Report) by 5.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 453,000 shares of the company's stock after selling 28,400 shares during the quarter. Amer Sports comprises about 0.9% of GAM Holding AG's holdings, making the stock its 28th biggest holding. GAM Holding AG owned 0.08% of Amer Sports worth $12,109,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake in Amer Sports by 55.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock worth $97,000 after acquiring an additional 1,250 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Amer Sports by 35.0% during the fourth quarter. Signaturefd LLC now owns 4,136 shares of the company's stock worth $116,000 after purchasing an additional 1,073 shares in the last quarter. Mainstream Capital Management LLC bought a new position in shares of Amer Sports in the fourth quarter worth approximately $190,000. Keel Point LLC bought a new position in shares of Amer Sports in the fourth quarter worth approximately $234,000. Finally, Magnetar Financial LLC purchased a new stake in Amer Sports in the fourth quarter valued at approximately $275,000. Hedge funds and other institutional investors own 40.25% of the company's stock.

Analyst Upgrades and Downgrades

AS has been the subject of a number of research reports. The Goldman Sachs Group boosted their price target on shares of Amer Sports from $28.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. TD Securities upped their target price on shares of Amer Sports from $30.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. UBS Group reissued a "buy" rating and issued a $50.00 target price (up previously from $37.00) on shares of Amer Sports in a research note on Wednesday, May 21st. Wells Fargo & Company set a $35.00 price target on Amer Sports and gave the company an "equal weight" rating in a research report on Wednesday, May 21st. Finally, Wall Street Zen upgraded Amer Sports from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.67.

Amer Sports Trading Up 0.7%

NYSE AS opened at $36.44 on Friday. The firm has a market cap of $20.18 billion, a PE ratio of 98.47, a price-to-earnings-growth ratio of 1.35 and a beta of 3.64. Amer Sports, Inc. has a 1-year low of $10.11 and a 1-year high of $39.17. The stock has a 50-day moving average of $31.17 and a 200-day moving average of $29.37. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.24.

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

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.

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