Informed Momentum Co LLC Cuts Stock Position in Amer Sports, Inc. (NYSE:AS)

Key Points

• Informed Momentum Co LLC reduced its stake in Amer Sports, Inc. by 47.7% during Q1, holding 111,639 shares valued at approximately $2.98 million as of the end of the quarter.
• Amer Sports reported a quarterly earnings per share (EPS) of $0.27, surpassing analysts' expectations of $0.15, with revenues reaching $1.47 billion, a 24.5% increase year-over-year.
• Several analysts have raised their price targets for Amer Sports, with TD Securities increasing theirs from $30 to $41 and JPMorgan Chase boosting theirs from $45 to $46, indicating strong potential growth for the stock.

Informed Momentum Co LLC trimmed its holdings in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 47.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,639 shares of the company's stock after selling 101,779 shares during the quarter. Informed Momentum Co LLC's holdings in Amer Sports were worth $2,984,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AS. Scotia Capital Inc. lifted its stake in Amer Sports by 1.0% during the first quarter. Scotia Capital Inc. now owns 50,841 shares of the company's stock worth $1,359,000 after purchasing an additional 488 shares during the last quarter. Signaturefd LLC lifted its stake in Amer Sports by 19.1% during the first quarter. Signaturefd LLC now owns 4,925 shares of the company's stock worth $132,000 after purchasing an additional 789 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Amer Sports by 55.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock worth $97,000 after purchasing an additional 1,250 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Amer Sports by 22.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,386 shares of the company's stock worth $331,000 after purchasing an additional 2,275 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its stake in Amer Sports by 5.3% during the first quarter. Pinnacle Associates Ltd. now owns 55,895 shares of the company's stock worth $1,494,000 after purchasing an additional 2,825 shares during the last quarter. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Amer Sports Stock Down 2.9%

Shares of AS stock traded down $1.14 during midday trading on Thursday, reaching $37.94. 3,646,815 shares of the stock were exchanged, compared to its average volume of 3,932,194. Amer Sports, Inc. has a 1 year low of $11.31 and a 1 year high of $40.21. The company's 50 day moving average is $37.88 and its two-hundred day moving average is $31.94. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.24. The firm has a market cap of $21.01 billion, a PE ratio of 102.53, a price-to-earnings-growth ratio of 1.53 and a beta of 3.31.

Amer Sports (NYSE:AS - Get Free Report) last posted its earnings results on Tuesday, May 20th. The company reported $0.27 earnings per share 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 firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the business earned $0.08 EPS. The business's revenue for the quarter was up 24.5% on a year-over-year basis. On average, equities research analysts predict that Amer Sports, Inc. will post 0.46 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AS shares. Wall Street Zen lowered Amer Sports from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Citigroup reissued a "buy" rating and issued a $42.00 target price (up previously from $30.00) on shares of Amer Sports in a research note on Wednesday, May 21st. JPMorgan Chase & Co. boosted their target price on Amer Sports from $45.00 to $46.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. KGI Securities set a $44.30 target price on Amer Sports and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Finally, 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. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amer Sports has a consensus rating of "Moderate Buy" and an average price target of $38.74.

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.