Renaissance Technologies LLC Sells 216,255 Shares of Amer Sports, Inc. $AS

Key Points

• Renaissance Technologies reduced its Amer Sports stake by 21.4%, selling 216,255 shares and retaining 792,845 shares valued at approximately $26.1 million. Institutional investors collectively own 40.25% of the company.
• Analysts remain broadly positive, with Amer Sports receiving an average “Buy” rating and a consensus price target of $48.70, well above its recent $36.06 share price.
• Amer Sports reported stronger-than-expected quarterly results, posting EPS of $0.38 versus the $0.31 estimate and revenue of $1.95 billion, up 32.1% year over year. However, insiders sold 833,580 shares worth roughly $29.2 million over the past three months.

Renaissance Technologies LLC lowered its position in Amer Sports, Inc. (NYSE:AS - Free Report) by 21.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 792,845 shares of the company's stock after selling 216,255 shares during the quarter. Renaissance Technologies LLC owned about 0.14% of Amer Sports worth $26,100,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AS. Siren L.L.C. purchased a new stake in Amer Sports in the 1st quarter worth about $1,646,000. Cetera Investment Advisers raised its holdings in shares of Amer Sports by 20.2% in the first quarter. Cetera Investment Advisers now owns 15,317 shares of the company's stock worth $504,000 after buying an additional 2,574 shares during the period. CI Investments Inc. bought a new stake in shares of Amer Sports during the 1st quarter worth approximately $56,127,000. Temasek Holdings Private Ltd boosted its holdings in Amer Sports by 42.1% during the 1st quarter. Temasek Holdings Private Ltd now owns 3,665,157 shares of the company's stock valued at $120,657,000 after acquiring an additional 1,086,616 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Amer Sports by 135.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,090 shares of the company's stock valued at $102,000 after acquiring an additional 1,777 shares during the last quarter. 40.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AS. Weiss Ratings reissued a "hold (c+)" rating on shares of Amer Sports in a research note on Friday, July 24th. Piper Sandler reissued an "overweight" rating and issued a $45.00 price objective on shares of Amer Sports in a research report on Monday. Robert W. Baird set a $51.00 target price on shares of Amer Sports in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft set a $52.00 target price on shares of Amer Sports in a research report on Wednesday, May 20th. Finally, Truist Financial boosted their price target on Amer Sports from $49.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Amer Sports currently has an average rating of "Buy" and an average target price of $48.70.

Amer Sports Stock Up 0.2%

NYSE:AS opened at $36.06 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.66 and a quick ratio of 0.82. Amer Sports, Inc. has a 1-year low of $28.92 and a 1-year high of $42.76. The company has a 50-day moving average of $35.05 and a 200 day moving average of $35.59. The firm has a market cap of $19.97 billion, a PE ratio of 45.07, a price-to-earnings-growth ratio of 1.26 and a beta of 2.07.

Amer Sports (NYSE:AS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 19th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.31 by $0.07. Amer Sports had a net margin of 6.50% and a return on equity of 10.29%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the business posted $0.27 EPS. The company's quarterly revenue was up 32.1% compared to the same quarter last year. Amer Sports has set its FY 2026 guidance at 1.180-1.230 EPS. As a group, research analysts anticipate that Amer Sports, Inc. will post 1.22 EPS for the current fiscal year.

Insider Buying and Selling at Amer Sports

In related news, insider Wen-Chang (Victor) Chen sold 13,075 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $35.62, for a total value of $465,731.50. Following the completion of the transaction, the insider owned 149,821 shares of the company's stock, valued at $5,336,624.02. The trade was a 8.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Andrew E. Page sold 105,230 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $36.75, for a total value of $3,867,202.50. Following the sale, the chief financial officer owned 4,083 shares of the company's stock, valued at approximately $150,050.25. This represents a 96.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 833,580 shares of company stock valued at $29,200,266.

Amer Sports Profile

Amer Sports NYSE: AS is a Helsinki-based sporting goods group that designs, develops and markets performance-oriented equipment, apparel and footwear across multiple sports. The company focuses on product innovation, brand-driven marketing and global distribution to serve athletes and outdoor enthusiasts, offering goods for activities such as skiing, running, hiking, tennis, golf and diving.

Amer Sports' portfolio comprises well-known sports and outdoor brands, including Salomon (outdoor footwear and winter sports), Atomic (alpine skis and ski equipment), Arc'teryx (technical outerwear and climbing gear), Wilson (racquet and ball sports equipment) and Suunto (precision instruments and sports watches).

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