True Light Capital Pte. Ltd. Acquires New Holdings in Amer Sports, Inc. $AS

Key Points

• True Light Capital Pte. Ltd. disclosed a new stake in Amer Sports, buying 327,000 shares worth about $12.2 million in the fourth quarter. The position represents about 5.5% of the fund’s holdings and roughly 0.06% of Amer Sports.
• Amer Sports reported stronger-than-expected quarterly results, posting EPS of $0.38 versus the $0.31 consensus and revenue of $1.95 billion versus estimates of $1.84 billion.
• Wall Street remains broadly bullish on the stock, with an average Buy rating and a consensus price target of $47.18, though some insiders have recently sold shares, including the CEO and CFO.

True Light Capital Pte. Ltd. acquired a new stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 327,000 shares of the company's stock, valued at approximately $12,213,000. Amer Sports accounts for approximately 5.5% of True Light Capital Pte. Ltd.'s holdings, making the stock its 6th biggest holding. True Light Capital Pte. Ltd. owned approximately 0.06% of Amer Sports as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AS. AQR Capital Management LLC purchased a new position in Amer Sports during the first quarter valued at approximately $565,000. Goldman Sachs Group Inc. increased its holdings in Amer Sports by 44.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,173,674 shares of the company's stock valued at $31,372,000 after buying an additional 358,536 shares during the period. Legal & General Group Plc increased its holdings in Amer Sports by 103.2% during the second quarter. Legal & General Group Plc now owns 16,404 shares of the company's stock valued at $636,000 after buying an additional 8,330 shares during the period. American Century Companies Inc. purchased a new position in Amer Sports during the second quarter valued at approximately $472,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Amer Sports by 276.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,364 shares of the company's stock valued at $130,000 after buying an additional 2,470 shares during the period. 40.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amer Sports

In other news, CEO Stuart Haselden sold 11,438 shares of Amer Sports stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $36.26, for a total transaction of $414,741.88. Following the completion of the sale, the chief executive officer directly owned 15,275 shares in the company, valued at approximately $553,871.50. The trade was a 42.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew E. Page sold 6,005 shares of Amer Sports stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $36.26, for a total transaction of $217,741.30. Following the sale, the chief financial officer owned 11,828 shares of the company's stock, valued at $428,883.28. The trade was a 33.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 27,125 shares of company stock valued at $956,673 over the last quarter.

Amer Sports Price Performance

NYSE AS opened at $33.15 on Tuesday. The firm's fifty day simple moving average is $34.22 and its two-hundred day simple moving average is $35.80. The company has a current ratio of 1.50, a quick ratio of 0.76 and a debt-to-equity ratio of 0.25. Amer Sports, Inc. has a 12-month low of $28.92 and a 12-month high of $42.76. The firm has a market capitalization of $18.36 billion, a P/E ratio of 44.20, a P/E/G ratio of 1.35 and a beta of 2.16.

Amer Sports (NYSE:AS - Get Free Report) last released its quarterly earnings results on Monday, May 18th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.07. Amer Sports had a net margin of 6.51% and a return on equity of 9.74%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.84 billion. Analysts forecast that Amer Sports, Inc. will post 1.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AS has been the topic of several research reports. Evercore lifted their price objective on shares of Amer Sports from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $50.00 price target on shares of Amer Sports in a report on Wednesday, May 13th. Zacks Research lowered shares of Amer Sports from a "strong-buy" rating to a "hold" rating in a report on Monday, January 19th. UBS Group reaffirmed a "buy" rating on shares of Amer Sports in a report on Friday, March 13th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Amer Sports in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $47.18.

About Amer Sports

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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