Platinum Investment Management Ltd. Sells 20,000 Shares of Amer Sports, Inc. $AS

Platinum Investment Management Ltd. lessened its holdings in Amer Sports, Inc. (NYSE:AS) by 11.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 160,000 shares of the company’s stock after selling 20,000 shares during the period. Amer Sports makes up about 1.4% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 19th largest position. Platinum Investment Management Ltd.’s holdings in Amer Sports were worth $5,976,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Aspex Management HK Ltd bought a new position in shares of Amer Sports in the third quarter worth about $206,244,000. JPMorgan Chase & Co. grew its holdings in shares of Amer Sports by 9.3% in the third quarter. JPMorgan Chase & Co. now owns 684,783 shares of the company’s stock worth $23,796,000 after purchasing an additional 58,350 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of Amer Sports in the third quarter worth about $2,519,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Amer Sports by 130.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,015,491 shares of the company’s stock worth $112,629,000 after purchasing an additional 1,705,944 shares during the last quarter. Finally, WT Asset Management Ltd grew its holdings in shares of Amer Sports by 221.5% in the third quarter. WT Asset Management Ltd now owns 3,499,062 shares of the company’s stock worth $121,592,000 after purchasing an additional 2,410,861 shares during the last quarter. Institutional investors own 40.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on AS shares. UBS Group upped their price objective on shares of Amer Sports from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Evercore upped their price objective on shares of Amer Sports from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Robert W. Baird set a $51.00 price objective on shares of Amer Sports in a research note on Wednesday, May 20th. Weiss Ratings raised shares of Amer Sports from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Finally, Truist Financial upped their price objective on shares of Amer Sports from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $48.19.

Insider Activity at Amer Sports

In other Amer Sports news, CFO Andrew E. Page sold 105,230 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $36.75, for a total value of $3,867,202.50. Following the transaction, the chief financial officer owned 4,083 shares in the company, valued at approximately $150,050.25. This trade represents a 96.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Stuart Haselden sold 215,275 shares of Amer Sports stock in a transaction on Monday, June 1st. The stock was sold at an average price of $35.57, for a total value of $7,657,331.75. Following the transaction, the chief executive officer owned 215,275 shares in the company, valued at approximately $7,657,331.75. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 860,705 shares of company stock worth $30,156,939 over the last 90 days.

Amer Sports Stock Performance

Shares of Amer Sports stock opened at $35.43 on Friday. The firm has a market capitalization of $19.62 billion, a P/E ratio of 44.29, a PEG ratio of 1.24 and a beta of 2.05. The company has a quick ratio of 0.82, a current ratio of 1.66 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average price of $35.06 and a 200 day moving average price of $36.24. Amer Sports, Inc. has a 52 week low of $28.92 and a 52 week high of $42.76.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, May 19th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.07. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.84 billion. Amer Sports had a net margin of 6.50% and a return on equity of 10.29%. Amer Sports’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. Amer Sports has set its FY 2026 guidance at 1.180-1.230 EPS. Sell-side analysts expect that Amer Sports, Inc. will post 1.22 EPS for the current year.

Amer Sports 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).