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

Platinum Investment Management Ltd. trimmed its position in shares of Amer Sports, Inc. (NYSE:AS) by 16.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,000 shares of the company’s stock after selling 50,000 shares during the quarter. Amer Sports accounts for approximately 0.4% of Platinum Investment Management Ltd.’s holdings, making the stock its 27th largest position. Platinum Investment Management Ltd.’s holdings in Amer Sports were worth $6,990,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Amer Sports by 61.8% in the 4th quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock valued at $54,000 after acquiring an additional 742 shares during the last quarter. West Branch Capital LLC increased its position in shares of Amer Sports by 14,285.7% during the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock worth $28,000 after acquiring an additional 1,000 shares during the period. Signaturefd LLC increased its position in shares of 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 acquiring an additional 1,073 shares during the period. Kieckhefer Group LLC purchased a new position in Amer Sports during the fourth quarter valued at approximately $42,000. Finally, JPMorgan Chase & Co. purchased a new position in Amer Sports during the third quarter valued at approximately $25,000. 40.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on AS shares. Morgan Stanley lifted their price target on shares of Amer Sports from $19.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Robert W. Baird upped their price target on shares of Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, December 9th. HSBC lowered shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a report on Monday, December 16th. Citigroup increased their target price on shares of Amer Sports from $24.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Sanford C. Bernstein started coverage on shares of Amer Sports in a research report on Thursday, February 13th. They set an “outperform” rating and a $38.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.64.

Amer Sports Stock Performance

Shares of AS stock opened at $28.32 on Wednesday. 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, Inc. has a one year low of $10.11 and a one year high of $34.00. The company has a 50 day moving average price of $29.88 and a 200 day moving average price of $24.03. The firm has a market capitalization of $15.68 billion and a price-to-earnings ratio of -202.24.

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