WT Asset Management Ltd Sells 80,800 Shares of Amer Sports, Inc. (NYSE:AS)

WT Asset Management Ltd lessened its holdings in shares of Amer Sports, Inc. (NYSE:AS) by 11.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 612,242 shares of the company’s stock after selling 80,800 shares during the period. Amer Sports accounts for about 0.7% of WT Asset Management Ltd’s portfolio, making the stock its 20th largest position. WT Asset Management Ltd owned 0.12% of Amer Sports worth $7,696,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AS. Dnca Finance bought a new position in Amer Sports in the second quarter valued at about $81,000. Renaissance Capital LLC boosted its holdings in Amer Sports by 50.7% in the second quarter. Renaissance Capital LLC now owns 108,826 shares of the company’s stock valued at $1,368,000 after acquiring an additional 36,632 shares during the last quarter. Sandia Investment Management LP acquired a new position in Amer Sports in the first quarter valued at about $425,000. Hood River Capital Management LLC acquired a new position in Amer Sports in the first quarter valued at about $47,778,000. Finally, Quadrature Capital Ltd acquired a new position in Amer Sports in the first quarter valued at about $390,000. Institutional investors own 40.25% of the company’s stock.

Amer Sports Stock Performance

AS stock traded up $0.29 during mid-day trading on Friday, reaching $14.12. The company had a trading volume of 1,829,746 shares, compared to its average volume of 1,603,926. The company has a quick ratio of 0.97, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $12.16 and a two-hundred day simple moving average of $14.12. Amer Sports, Inc. has a 52 week low of $10.11 and a 52 week high of $18.23.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. The company had revenue of $993.80 million during the quarter, compared to the consensus estimate of $947.59 million. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, analysts anticipate that Amer Sports, Inc. will post 0.4 EPS for the current year.

Analyst Upgrades and Downgrades

AS has been the topic of several analyst reports. Morgan Stanley cut their target price on Amer Sports from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 23rd. Evercore ISI reissued an “outperform” rating and issued a $21.00 target price on shares of Amer Sports in a research note on Wednesday. Finally, UBS Group increased their target price on Amer Sports from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

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.