Bank of Nova Scotia Reduces Position in Amer Sports, Inc. $AS

Bank of Nova Scotia decreased its position in Amer Sports, Inc. (NYSE:AS) by 26.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,482,800 shares of the company’s stock after selling 539,503 shares during the period. Bank of Nova Scotia owned approximately 0.27% of Amer Sports worth $48,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its stake in shares of Amer Sports by 130.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,015,491 shares of the company’s stock valued at $112,629,000 after purchasing an additional 1,705,944 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in Amer Sports during the fourth quarter worth $3,927,000. Ogborne Capital Management LLC acquired a new position in shares of Amer Sports in the 4th quarter worth approximately $22,257,000. Norges Bank purchased a new position in shares of Amer Sports in the fourth quarter valued at approximately $70,055,000. Finally, Legal & General Group Plc grew its stake in Amer Sports by 670.1% during the 4th quarter. Legal & General Group Plc now owns 118,455 shares of the company’s stock worth $4,424,000 after purchasing an additional 103,074 shares in the last quarter. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. 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. Robert W. Baird set a $51.00 price objective on shares of Amer Sports in a research report on Wednesday, May 20th. Truist Financial upped their price objective on Amer Sports from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft set a $52.00 price objective on shares of Amer Sports in a report on Wednesday, May 20th. Finally, UBS Group upped their target price on shares of Amer Sports from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Amer Sports currently has an average rating of “Buy” and an average target price of $48.98.

Insider Buying and Selling

In other news, insider Wen-Chang (Victor) Chen sold 13,075 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $35.62, for a total transaction of $465,731.50. Following the completion of the transaction, the insider owned 149,821 shares in the company, valued at approximately $5,336,624.02. This represents a 8.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jie (James) Zheng sold 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $34.42, for a total value of $17,210,000.00. Following the completion of the sale, the chief executive officer owned 1,262,385 shares in the company, valued at approximately $43,451,291.70. This represents a 28.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 833,580 shares of company stock valued at $29,200,266.

Amer Sports Price Performance

Shares of NYSE AS opened at $34.02 on Friday. 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 twelve month low of $28.92 and a twelve month high of $42.76. The business has a 50 day simple moving average of $34.94 and a 200-day simple moving average of $35.67. The company has a market capitalization of $18.84 billion, a price-to-earnings ratio of 42.53, a price-to-earnings-growth ratio of 1.16 and a beta of 2.07.

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

Amer Sports Company 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).