Nuveen Asset Management LLC Reduces Stock Holdings in Amer Sports, Inc. (NYSE:AS)

Nuveen Asset Management LLC cut its position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 58.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,341 shares of the company's stock after selling 114,813 shares during the quarter. Nuveen Asset Management LLC's holdings in Amer Sports were worth $2,274,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Amer Sports by 250.7% in the fourth quarter. FMR LLC now owns 26,414,511 shares of the company's stock valued at $738,550,000 after purchasing an additional 18,881,504 shares in the last quarter. Brilliance Asset Management Ltd. raised its position in shares of Amer Sports by 5.1% during the 4th quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company's stock worth $113,883,000 after purchasing an additional 196,380 shares during the last quarter. Candlestick Capital Management LP lifted its stake in Amer Sports by 1.7% in the 4th quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company's stock valued at $108,052,000 after buying an additional 63,078 shares in the last quarter. WT Asset Management Ltd lifted its stake in Amer Sports by 188.2% in the 4th quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company's stock valued at $100,834,000 after buying an additional 2,355,182 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Amer Sports by 262.5% during the 4th quarter. Marshall Wace LLP now owns 3,316,167 shares of the company's stock valued at $92,720,000 after buying an additional 2,401,302 shares during the last quarter. 40.25% of the stock is owned by institutional investors and hedge funds.

Amer Sports Trading Up 0.4%

Shares of Amer Sports stock traded up $0.15 during trading hours on Friday, reaching $37.53. The stock had a trading volume of 4,035,654 shares, compared to its average volume of 2,966,571. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. Amer Sports, Inc. has a 1 year low of $10.11 and a 1 year high of $38.51. The firm has a market capitalization of $20.79 billion, a price-to-earnings ratio of -268.05, a P/E/G ratio of 0.72 and a beta of 3.64. The firm has a 50 day simple moving average of $28.24 and a two-hundred day simple moving average of $28.44.

Amer Sports (NYSE:AS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.15 by $0.12. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm posted $0.08 earnings per share. Amer Sports's revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AS shares. JPMorgan Chase & Co. boosted their price target on Amer Sports from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. 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. Citigroup restated a "buy" rating and issued a $42.00 target price (up from $30.00) on shares of Amer Sports in a report on Wednesday, May 21st. Morgan Stanley lifted their price target on shares of Amer Sports from $28.00 to $33.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 21st. Finally, Wall Street Zen raised shares of Amer Sports from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.67.

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.