Platinum Investment Management Ltd. Sells 50,000 Shares of Amer Sports, Inc. (NYSE:AS)

Platinum Investment Management Ltd. lessened its holdings in shares of Amer Sports, Inc. (NYSE:AS) by 16.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 250,000 shares of the company’s stock after selling 50,000 shares during the period. Amer Sports comprises approximately 0.4% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 27th biggest position. Platinum Investment Management Ltd.’s holdings in Amer Sports were worth $6,990,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Amer Sports by 71.2% in the 3rd quarter. FMR LLC now owns 7,533,007 shares of the company’s stock valued at $120,151,000 after purchasing an additional 3,133,312 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Amer Sports by 734.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock valued at $1,288,000 after acquiring an additional 71,086 shares during the period. Walleye Capital LLC bought a new stake in Amer Sports during the 3rd quarter worth approximately $274,000. Woodson Capital Management LP bought a new stake in Amer Sports during the 3rd quarter worth approximately $12,907,000. Finally, Verition Fund Management LLC bought a new stake in Amer Sports during the 3rd quarter worth approximately $301,000. Institutional investors own 40.25% of the company’s stock.

Amer Sports Price Performance

Shares of AS opened at $28.32 on Wednesday. The firm has a market cap of $15.68 billion and a PE ratio of -202.24. Amer Sports, Inc. has a 52-week low of $10.11 and a 52-week high of $34.00. The business’s 50 day moving average price is $29.88 and its two-hundred day moving average price is $24.03. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62.

Amer Sports (NYSE:AS) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.60 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities analysts anticipate that Amer Sports, Inc. will post 0.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AS shares. UBS Group raised their price target on shares of Amer Sports from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group raised their price target on Amer Sports from $28.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Evercore ISI raised their price target on Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Wells Fargo & Company lifted their target price on Amer Sports from $25.00 to $28.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Finally, Morgan Stanley raised their price target on Amer Sports from $19.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.64.

About Amer Sports

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.