GAM Holding AG Sells 28,400 Shares of Amer Sports, Inc. (NYSE:AS)

GAM Holding AG reduced its holdings in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 453,000 shares of the company's stock after selling 28,400 shares during the quarter. Amer Sports accounts for about 0.9% of GAM Holding AG's holdings, making the stock its 28th biggest holding. GAM Holding AG owned approximately 0.08% of Amer Sports worth $12,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AS. Handelsbanken Fonder AB acquired a new stake in shares of Amer Sports in the 4th quarter valued at approximately $475,000. Proficio Capital Partners LLC bought a new position in Amer Sports in the 4th quarter valued at approximately $618,000. Charles Schwab Investment Management Inc. acquired a new stake in Amer Sports in the fourth quarter valued at approximately $283,000. Mainstream Capital Management LLC bought a new stake in shares of Amer Sports during the fourth quarter worth $190,000. Finally, Aigen Investment Management LP bought a new stake in shares of Amer Sports during the fourth quarter worth $379,000. Institutional investors own 40.25% of the company's stock.

Amer Sports Stock Up 1.6%

NYSE AS traded up $0.59 during mid-day trading on Tuesday, hitting $37.71. The company's stock had a trading volume of 3,209,205 shares, compared to its average volume of 3,075,278. Amer Sports, Inc. has a twelve month low of $10.11 and a twelve month high of $39.17. The firm has a market capitalization of $20.88 billion, a price-to-earnings ratio of 101.91, a PEG ratio of 1.36 and a beta of 3.64. The company's 50 day simple moving average is $31.46 and its 200 day simple moving average is $29.51. 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 posted its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.12. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.38 billion. Amer Sports had a net margin of 3.70% and a return on equity of 7.21%. The firm's revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. Analysts anticipate that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AS. The Goldman Sachs Group raised their price objective on Amer Sports from $28.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. UBS Group restated a "buy" rating and set a $50.00 price target (up from $37.00) on shares of Amer Sports in a report on Wednesday, May 21st. Wells Fargo & Company set a $35.00 price objective on shares of Amer Sports and gave the company an "equal weight" rating in a report on Wednesday, May 21st. Wall Street Zen raised shares of Amer Sports from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, TD Securities raised their price target on shares of Amer Sports from $30.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.67.

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.