Thornburg Investment Management Inc. Sells 222,895 Shares of Amer Sports, Inc. $AS

Thornburg Investment Management Inc. reduced its position in Amer Sports, Inc. (NYSE:AS) by 77.0% during the second quarter, Holdings Channel reports. The institutional investor owned 66,478 shares of the company’s stock after selling 222,895 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Amer Sports were worth $2,577,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of Amer Sports by 17.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,614 shares of the company’s stock worth $101,000 after purchasing an additional 387 shares in the last quarter. Scotia Capital Inc. raised its stake in Amer Sports by 1.0% in the first quarter. Scotia Capital Inc. now owns 50,841 shares of the company’s stock valued at $1,359,000 after buying an additional 488 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in Amer Sports by 146.4% in the second quarter. SBI Securities Co. Ltd. now owns 897 shares of the company’s stock worth $35,000 after acquiring an additional 533 shares in the last quarter. Quarry LP acquired a new stake in Amer Sports in the first quarter worth about $34,000. Finally, Choreo LLC grew its stake in shares of Amer Sports by 21.4% during the second quarter. Choreo LLC now owns 9,854 shares of the company’s stock worth $382,000 after acquiring an additional 1,740 shares during the last quarter. 40.25% of the stock is owned by institutional investors and hedge funds.

Amer Sports Trading Up 0.0%

Shares of AS stock opened at $36.62 on Thursday. The company has a current ratio of 1.51, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $32.85 and its 200-day moving average price is $35.81. Amer Sports, Inc. has a twelve month low of $20.21 and a twelve month high of $42.36. The stock has a market cap of $20.28 billion, a price-to-earnings ratio of 66.58, a PEG ratio of 1.02 and a beta of 2.97.

Amer Sports (NYSE:AS) last released its quarterly earnings results on Tuesday, November 18th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.25 by $0.08. Amer Sports had a net margin of 5.10% and a return on equity of 8.51%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company earned $0.14 EPS. The business’s revenue for the quarter was up 29.7% compared to the same quarter last year. Amer Sports has set its FY 2025 guidance at 0.880-0.920 EPS. As a group, equities analysts predict that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AS shares. Zacks Research lowered shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Morgan Stanley set a $41.00 price target on shares of Amer Sports and gave the stock a “positive” rating in a report on Monday, September 22nd. UBS Group boosted their price objective on shares of Amer Sports from $52.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Nomura Securities raised Amer Sports from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Finally, Robert W. Baird raised their price objective on Amer Sports from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.06.

Amer Sports Company Profile

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.