China Universal Asset Management Co. Ltd. Decreases Stock Position in Amer Sports, Inc. $AS

China Universal Asset Management Co. Ltd. reduced its holdings in shares of Amer Sports, Inc. (NYSE:AS) by 56.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,327 shares of the company’s stock after selling 47,813 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Amer Sports were worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. grew its position in shares of Amer Sports by 146.4% in the second quarter. SBI Securities Co. Ltd. now owns 897 shares of the company’s stock valued at $35,000 after purchasing an additional 533 shares during the last quarter. Financial Consulate Inc. acquired a new position in shares of Amer Sports during the 3rd quarter worth approximately $40,000. PNC Financial Services Group Inc. lifted its stake in Amer Sports by 241.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,199 shares of the company’s stock valued at $42,000 after buying an additional 848 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Amer Sports during the 3rd quarter valued at $44,000. Finally, Smartleaf Asset Management LLC increased its position in Amer Sports by 174.3% during the second quarter. Smartleaf Asset Management LLC now owns 1,591 shares of the company’s stock worth $63,000 after buying an additional 1,011 shares in the last quarter. Institutional investors and hedge funds own 40.25% of the company’s stock.

Amer Sports Price Performance

Amer Sports stock opened at $41.93 on Friday. Amer Sports, Inc. has a 1 year low of $20.21 and a 1 year high of $42.76. The firm has a 50 day moving average price of $38.12 and a 200 day moving average price of $36.22. The company has a market cap of $23.22 billion, a price-to-earnings ratio of 76.23, a PEG ratio of 0.82 and a beta of 2.86. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.70 and a current ratio of 1.51.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, November 18th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.08. Amer Sports had a net margin of 5.10% and a return on equity of 8.51%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm posted $0.14 earnings per share. Amer Sports’s revenue was up 29.7% on a year-over-year basis. Sell-side analysts predict that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AS shares. Evercore restated an “outperform” rating and issued a $50.00 price objective on shares of Amer Sports in a research report on Thursday. Barclays began coverage on shares of Amer Sports in a report on Tuesday, December 9th. They issued an “overweight” rating and a $49.00 target price on the stock. Wall Street Zen downgraded shares of Amer Sports from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. JPMorgan Chase & Co. reduced their price objective on shares of Amer Sports from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Amer Sports in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Amer Sports has an average rating of “Buy” and a consensus price target of $46.89.

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).