Artemis Investment Management LLP Sells 3,337 Shares of Amer Sports, Inc. (NYSE:AS)

Artemis Investment Management LLP lowered its stake in shares of Amer Sports, Inc. (NYSE:AS) by 13.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,480 shares of the company’s stock after selling 3,337 shares during the period. Artemis Investment Management LLP’s holdings in Amer Sports were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its holdings 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 buying an additional 1,073 shares during the last quarter. Sterling Capital Management LLC boosted its holdings 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 buying an additional 1,250 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Amer Sports by 37.5% during the fourth quarter. Quantinno Capital Management LP now owns 15,551 shares of the company’s stock worth $435,000 after buying an additional 4,240 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Amer Sports by 32.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,575 shares of the company’s stock worth $576,000 after buying an additional 5,020 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Amer Sports by 16.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 36,018 shares of the company’s stock worth $1,007,000 after buying an additional 5,157 shares during the last quarter. Institutional investors own 40.25% of the company’s stock.

Wall Street Analyst Weigh In

AS has been the topic of several recent analyst reports. KGI Securities set a $44.30 price objective on Amer Sports and gave the company an “outperform” rating in a report on Wednesday. Wells Fargo & Company set a $35.00 price objective on Amer Sports and gave the company an “equal weight” rating in a report on Wednesday, May 21st. Wall Street Zen upgraded Amer Sports from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Piper Sandler initiated coverage on Amer Sports in a report on Thursday. They set an “overweight” rating and a $45.00 price objective on the stock. Finally, TD Securities lifted their price objective on Amer Sports from $30.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.81.

Amer Sports Trading Up 4.1%

NYSE AS opened at $39.39 on Friday. The stock has a market capitalization of $21.81 billion, a price-to-earnings ratio of 106.45, a PEG ratio of 1.41 and a beta of 3.64. The stock’s 50 day moving average price is $32.72 and its two-hundred day moving average price is $29.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.80 and a current ratio of 1.66. Amer Sports, Inc. has a 52 week low of $10.11 and a 52 week high of $39.66.

Amer Sports (NYSE:AS) last released its earnings results on Tuesday, May 20th. The company reported $0.27 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 analysts’ expectations of $1.38 billion. Amer Sports had a return on equity of 7.21% and a net margin of 3.70%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 EPS. As a group, analysts anticipate that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

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.