True Light Capital Pte. Ltd. Invests $12.21 Million in Amer Sports, Inc. $AS

True Light Capital Pte. Ltd. acquired a new position in shares of Amer Sports, Inc. (NYSE:AS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 327,000 shares of the company’s stock, valued at approximately $12,213,000. Amer Sports accounts for about 5.5% of True Light Capital Pte. Ltd.’s holdings, making the stock its 6th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in AS. AQR Capital Management LLC acquired a new stake in shares of Amer Sports during the first quarter worth $565,000. Goldman Sachs Group Inc. lifted its position 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 purchasing an additional 358,536 shares during the period. Legal & General Group Plc lifted its position 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 purchasing an additional 8,330 shares during the period. American Century Companies Inc. acquired a new position in Amer Sports during the second quarter valued at $472,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position 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 purchasing an additional 2,470 shares during the period. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AS has been the subject of a number of research reports. Truist Financial set a $49.00 target price on shares of Amer Sports in a research report on Wednesday, February 25th. Piper Sandler restated an “overweight” rating on shares of Amer Sports in a research report on Friday, February 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $50.00 target price on shares of Amer Sports in a research report on Wednesday, May 13th. Evercore boosted their target price on shares of Amer Sports from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings upgraded shares of Amer Sports from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $47.18.

Amer Sports Trading Up 0.9%

Shares of Amer Sports stock opened at $33.15 on Tuesday. The firm has a 50-day simple moving average of $34.22 and a two-hundred day simple moving average of $35.80. The company has a market cap of $18.36 billion, a P/E ratio of 44.20, a price-to-earnings-growth ratio of 1.35 and a beta of 2.16. Amer Sports, Inc. has a fifty-two week low of $28.92 and a fifty-two week high of $42.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.76 and a current ratio of 1.50.

Amer Sports (NYSE:AS) last issued its quarterly earnings data on Monday, May 18th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.07. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.84 billion. Amer Sports had a net margin of 6.51% and a return on equity of 9.74%. As a group, equities analysts predict that Amer Sports, Inc. will post 1.16 earnings per share for the current fiscal year.

Insider Transactions at Amer Sports

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

Amer Sports Company 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).