WCM Investment Management LLC Sells 758,310 Shares of Amer Sports, Inc. (NYSE:AS)

WCM Investment Management LLC lowered its stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 80.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 185,518 shares of the company's stock after selling 758,310 shares during the quarter. WCM Investment Management LLC's holdings in Amer Sports were worth $4,926,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AS. FMR LLC increased 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. Marshall Wace LLP increased its stake in shares of Amer Sports by 262.5% in 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 period. Junto Capital Management LP acquired a new stake in shares of Amer Sports in the 4th quarter valued at $66,793,000. Oxbow Capital Management HK Ltd bought a new stake in shares of Amer Sports during the fourth quarter worth $41,940,000. Finally, Trivest Advisors Ltd acquired a new position in shares of Amer Sports during the fourth quarter valued at $39,913,000. 40.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AS shares. The Goldman Sachs Group lifted their price objective on Amer Sports from $28.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Citigroup reaffirmed 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. Morgan Stanley boosted their price target on shares of Amer Sports from $28.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 21st. UBS Group restated a "buy" rating and issued a $50.00 price objective (up from $37.00) on shares of Amer Sports in a report on Wednesday, May 21st. Finally, Piper Sandler began coverage on shares of Amer Sports in a report on Thursday, June 26th. They set an "overweight" rating and a $45.00 target price for the company. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amer Sports has a consensus rating of "Moderate Buy" and an average price target of $37.81.

Amer Sports Stock Up 1.8%

Shares of AS stock traded up $0.68 during trading hours on Friday, hitting $38.87. 1,634,734 shares of the company were exchanged, compared to its average volume of 3,156,709. Amer Sports, Inc. has a 52 week low of $10.11 and a 52 week high of $40.21. 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 business has a 50 day moving average of $34.26 and a two-hundred day moving average of $30.19. The company has a market capitalization of $21.52 billion, a PE ratio of 105.04, a PEG ratio of 1.59 and a beta of 3.36.

Amer Sports (NYSE:AS - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.38 billion. Amer Sports had a return on equity of 7.21% and a net margin of 3.70%. The company's revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS. Analysts anticipate that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

Amer Sports 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.