BNP Paribas Financial Markets cut its holdings in shares of Amer Sports, Inc. (NYSE:AS – Free Report) by 52.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,895,732 shares of the company’s stock after selling 2,095,831 shares during the period. BNP Paribas Financial Markets’ holdings in Amer Sports were worth $70,806,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. Aspex Management HK Ltd bought a new position in Amer Sports during the 3rd quarter worth approximately $206,244,000. Scopus Asset Management L.P. bought a new stake in shares of Amer Sports in the 2nd quarter valued at $108,562,000. Viking Global Investors LP increased its stake in shares of Amer Sports by 63.5% in the 3rd quarter. Viking Global Investors LP now owns 6,343,481 shares of the company’s stock valued at $220,436,000 after acquiring an additional 2,462,832 shares in the last quarter. WT Asset Management Ltd increased its stake in shares of Amer Sports by 221.5% in the 3rd quarter. WT Asset Management Ltd now owns 3,499,062 shares of the company’s stock valued at $121,592,000 after acquiring an additional 2,410,861 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Amer Sports in the 2nd quarter valued at $87,287,000. 40.25% of the stock is currently owned by institutional investors and hedge funds.
Amer Sports Stock Performance
Shares of AS stock opened at $35.82 on Tuesday. The firm has a market capitalization of $19.84 billion, a PE ratio of 44.78, a price-to-earnings-growth ratio of 1.24 and a beta of 2.16. The firm has a fifty day simple moving average of $34.64 and a two-hundred day simple moving average of $36.13. The company has a current ratio of 1.66, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. Amer Sports, Inc. has a 12 month low of $28.92 and a 12 month high of $42.76.
Insider Transactions at Amer Sports
In related news, CFO Andrew E. Page sold 105,230 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $36.75, for a total transaction of $3,867,202.50. Following the transaction, the chief financial officer directly owned 4,083 shares of the company’s stock, valued at $150,050.25. This trade represents a 96.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stuart Haselden sold 11,438 shares of the firm’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $36.26, for a total transaction of $414,741.88. Following the transaction, the chief executive officer directly owned 15,275 shares in the company, valued at $553,871.50. The trade was a 42.82% 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. Insiders have sold 132,355 shares of company stock worth $4,823,875 over the last three months.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Evercore lifted their price objective on shares of Amer Sports from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. UBS Group lifted their price objective on shares of Amer Sports from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft set a $52.00 price objective on shares of Amer Sports in a research note on Wednesday, May 20th. Weiss Ratings upgraded shares of Amer Sports from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Amer Sports in a research note on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $48.19.
Read Our Latest Research Report on Amer Sports
About Amer Sports
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).
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