Amalgamated Bank Cuts Stock Position in Amer Sports, Inc. (NYSE:AS)

Amalgamated Bank decreased its holdings in shares of Amer Sports, Inc. (NYSE:AS) by 53.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,070 shares of the company’s stock after selling 3,566 shares during the period. Amalgamated Bank’s holdings in Amer Sports were worth $49,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. WT Asset Management Ltd raised its stake in Amer Sports by 104.4% in the 3rd quarter. WT Asset Management Ltd now owns 1,251,181 shares of the company’s stock valued at $19,956,000 after purchasing an additional 638,939 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Amer Sports by 47.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 116,970 shares of the company’s stock valued at $1,866,000 after buying an additional 37,500 shares during the last quarter. Signaturefd LLC purchased a new position in shares of Amer Sports in the third quarter worth about $49,000. Seven Grand Managers LLC boosted its position in Amer Sports by 566.7% during the third quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock worth $1,595,000 after acquiring an additional 85,000 shares during the last quarter. Finally, Creative Planning purchased a new stake in Amer Sports during the 3rd quarter valued at about $656,000. Institutional investors and hedge funds own 40.25% of the company’s stock.

Wall Street Analyst Weigh In

AS has been the subject of several recent research reports. Nomura Securities raised Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Evercore ISI reissued an “outperform” rating and set a $21.00 price target on shares of Amer Sports in a research report on Wednesday, August 21st. UBS Group raised their price objective on shares of Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company cut shares of Amer Sports from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $17.00 to $19.00 in a research note on Monday, October 14th. Finally, TD Cowen lifted their price target on shares of Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Amer Sports Trading Up 1.1 %

AS stock opened at $19.54 on Tuesday. The firm’s 50-day simple moving average is $17.33 and its 200 day simple moving average is $14.73. Amer Sports, Inc. has a fifty-two week low of $10.11 and a fifty-two week high of $20.68. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last issued its quarterly earnings data 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 business had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. Analysts predict that Amer Sports, Inc. will post 0.44 EPS for the current year.

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.