Point72 Asset Management L.P. Sells 2,245,716 Shares of Amer Sports, Inc. (NYSE:AS)

Point72 Asset Management L.P. trimmed its position in Amer Sports, Inc. (NYSE:AS - Free Report) by 88.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 290,274 shares of the company's stock after selling 2,245,716 shares during the quarter. Point72 Asset Management L.P. owned about 0.05% of Amer Sports worth $8,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AS. JPMorgan Chase & Co. bought a new position in Amer Sports during the third quarter worth $25,000. West Branch Capital LLC increased its position in Amer Sports by 14,285.7% during the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company's stock worth $28,000 after acquiring an additional 1,000 shares during the period. Sterling Capital Management LLC increased its position 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 acquiring an additional 1,250 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in Amer Sports during the fourth quarter worth $104,000. Finally, Signaturefd LLC increased its position in 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 acquiring an additional 1,073 shares during the period. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Amer Sports Price Performance

Shares of AS traded down $0.38 during trading hours on Friday, hitting $37.12. The stock had a trading volume of 2,969,817 shares, compared to its average volume of 2,790,506. The company's fifty day moving average is $26.62 and its two-hundred day moving average is $27.40. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. Amer Sports, Inc. has a 52 week low of $10.11 and a 52 week high of $38.42. The stock has a market capitalization of $20.56 billion, a price-to-earnings ratio of -265.09, a P/E/G ratio of 0.72 and a beta of 2.76.

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 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 business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the firm earned $0.08 EPS. The firm's quarterly revenue was up 24.5% compared to the same quarter last year. On average, analysts anticipate that Amer Sports, Inc. will post 0.46 EPS for the current year.

Analyst Ratings Changes

AS has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Amer Sports from $28.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Wednesday. UBS Group reaffirmed a "buy" rating and set a $50.00 target price (up previously from $37.00) on shares of Amer Sports in a research report on Wednesday. Citigroup reaffirmed a "buy" rating and set a $42.00 target price (up previously from $30.00) on shares of Amer Sports in a research report on Wednesday. Sanford C. Bernstein assumed coverage on shares of Amer Sports in a research report on Thursday, February 13th. They set an "outperform" rating and a $38.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of Amer Sports from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.