Amer Sports, Inc. $AS Position Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in shares of Amer Sports, Inc. (NYSE:AS) by 85.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,672,178 shares of the company’s stock after buying an additional 768,668 shares during the period. Pictet Asset Management Holding SA’s holdings in Amer Sports were worth $45,634,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AS. EverSource Wealth Advisors LLC lifted its position in shares of Amer Sports by 84.3% in the first quarter. EverSource Wealth Advisors LLC now owns 761 shares of the company’s stock worth $25,000 after buying an additional 348 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Amer Sports by 10.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,223 shares of the company’s stock valued at $143,000 after acquiring an additional 405 shares in the last quarter. Covestor Ltd raised its stake in shares of Amer Sports by 20.2% in the 3rd quarter. Covestor Ltd now owns 2,531 shares of the company’s stock valued at $69,000 after acquiring an additional 426 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in Amer Sports by 14.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 3,329 shares of the company’s stock worth $114,000 after purchasing an additional 432 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Amer Sports by 45.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,718 shares of the company’s stock worth $47,000 after purchasing an additional 534 shares during the last quarter. 40.25% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Wen-Chang Chen sold 117,461 shares of Amer Sports stock in a transaction that occurred on 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 sale, the insider owned 434,855 shares of the company’s stock, valued at approximately $11,567,143. This trade represents a 21.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew E. Page sold 2,022 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $28.63, for a total value of $57,889.86. Following the completion of the transaction, the chief financial officer owned 6,575 shares of the company’s stock, valued at $188,242.25. The trade was a 23.52% 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.

Analyst Ratings Changes

A number of brokerages have issued reports on AS. Wells Fargo & Company decreased their target price on Amer Sports from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, September 18th. Truist Financial lowered their target price on shares of Amer Sports from $50.00 to $42.00 and set a “buy” rating on the stock in a research note on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Amer Sports in a report on Wednesday, August 19th. Piper Sandler reissued an “overweight” rating on shares of Amer Sports in a research report on Wednesday, August 19th. Finally, The Goldman Sachs Group set a $43.00 price target on shares of Amer Sports in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.67.

Amer Sports Trading Down 2.0%

Shares of AS stock opened at $31.82 on Wednesday. The firm has a market capitalization of $17.62 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 1.03 and a beta of 1.97. Amer Sports, Inc. has a 1 year low of $26.10 and a 1 year high of $42.76. The firm’s fifty day simple moving average is $28.61 and its 200 day simple moving average is $33.54. The company has a current ratio of 1.76, a quick ratio of 0.80 and a debt-to-equity ratio of 0.11.

Amer Sports (NYSE:AS) last issued its quarterly earnings results on Monday, August 17th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate 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 was up 32.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. As a group, sell-side analysts predict that Amer Sports, Inc. will post 1.30 EPS for the current year.

Amer Sports Company Profile

Amer Sports is a global sporting goods company whose portfolio includes Arc’teryx, Salomon, Wilson, Atomic, Peak Performance and other brands. Its products span technical apparel and footwear, outdoor and winter sports equipment, and gear for sports such as tennis, baseball and basketball. The company serves consumers and athletes in markets around the world through its brands’ retail, wholesale and direct-to-consumer channels. Its operations are organized around technical apparel, outdoor performance, and ball and racquet sports.