Amer Sports (NYSE:AS) Insider Sells 117,461 Shares of Stock

Key Points

• Insider sale: Amer Sports insider Wen-Chang Chen sold 117,461 shares at an average price of $26.60, generating approximately $3.12 million. The transaction reduced his ownership by 21.27%, leaving him with 434,855 shares.
• Stock performance: Amer Sports opened at $27.19, near its one-year low of $26.54 and well below its 50-day and 200-day moving averages of $32.77 and $34.01, respectively.
• Business and analyst outlook: The company recently exceeded quarterly earnings and revenue expectations, with revenue rising 32.1% year over year. Analysts maintain a “Moderate Buy” consensus rating and an average price target of $45.92, while institutional investors own 40.25% of the stock.

Amer Sports, Inc. (NYSE:AS - Get Free Report) insider Wen-Chang Chen sold 117,461 shares of Amer Sports stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $26.60, for a total transaction of $3,124,462.60. Following the transaction, the insider directly owned 434,855 shares in the company, valued at $11,567,143. This trade represents a 21.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Amer Sports Stock Performance

Amer Sports stock opened at $27.19 on Thursday. The firm has a 50 day simple moving average of $32.77 and a 200-day simple moving average of $34.01. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 0.86 and a beta of 1.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 0.80. Amer Sports, Inc. has a 1-year low of $26.54 and a 1-year high of $42.76.

Amer Sports (NYSE:AS - Get Free Report) last released its quarterly earnings results on Monday, August 17th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.11 by $0.11. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Amer Sports had a net margin of 7.35% and a return on equity of 11.18%. The business's revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 EPS. On average, analysts expect that Amer Sports, Inc. will post 1.29 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on AS. Robert W. Baird set a $51.00 price objective on Amer Sports in a research report on Wednesday, May 20th. JPMorgan Chase & Co. upped their price objective on shares of Amer Sports from $59.00 to $64.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. UBS Group set a $42.00 target price on Amer Sports in a research report on Thursday, September 10th. Piper Sandler reiterated an "overweight" rating on shares of Amer Sports in a report on Wednesday, August 19th. Finally, BTIG Research initiated coverage on shares of Amer Sports in a research note on Thursday, September 10th. They issued a "buy" rating and a $42.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Amer Sports presently has a consensus rating of "Moderate Buy" and an average price target of $45.92.

Institutional Investors Weigh In On Amer Sports

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in Amer Sports by 84.3% in the first quarter. EverSource Wealth Advisors LLC now owns 761 shares of the company's stock valued at $25,000 after acquiring an additional 348 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Amer Sports by 1,030.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 814 shares of the company's stock valued at $30,000 after purchasing an additional 742 shares during the period. Global Retirement Partners LLC grew its stake in Amer Sports by 5,600.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,824 shares of the company's stock worth $68,000 after buying an additional 1,792 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Amer Sports during the 2nd quarter worth approximately $99,000. Finally, PNC Financial Services Group Inc. increased its position in Amer Sports by 135.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,090 shares of the company's stock worth $102,000 after buying an additional 1,777 shares during the period. 40.25% of the stock is currently owned by institutional investors and hedge funds.

About Amer Sports

Amer Sports, Inc NYSE: AS is a global sporting goods company that designs, manufactures and markets equipment, apparel, footwear and accessories for outdoor, action sports and team sports. Its products are sold through wholesale partners, company-operated stores and digital channels across North America, Europe, Asia and other international markets.

The company's brand portfolio includes Arc'teryx, which focuses on premium outdoor apparel and equipment; Salomon, known for mountain sports footwear and equipment; Wilson, which serves tennis, pickleball, baseball, basketball and other team sports; Atomic, which specializes in skiing products; and Peak Performance and Armada, which offer outdoor and winter sports apparel and equipment.

Amer Sports traces its origins to 1950 in Finland, where it was established as Amer-Yhtymä before developing into a diversified sporting goods group.

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