CI Investments Inc. Makes New $56.13 Million Investment in Amer Sports, Inc. $AS

CI Investments Inc. bought a new stake in shares of Amer Sports, Inc. (NYSE:AS) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,704,951 shares of the company’s stock, valued at approximately $56,127,000.

Several other large investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in Amer Sports by 9.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 684,783 shares of the company’s stock valued at $23,796,000 after buying an additional 58,350 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Amer Sports by 130.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,015,491 shares of the company’s stock valued at $112,629,000 after buying an additional 1,705,944 shares during the last quarter. Ogborne Capital Management LLC bought a new stake in Amer Sports in the fourth quarter worth $22,257,000. Wakefield Asset Management LLLP bought a new stake in Amer Sports in the fourth quarter worth $3,927,000. Finally, Norges Bank purchased a new stake in shares of Amer Sports in the fourth quarter worth $70,055,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amer Sports

In related news, CEO Stuart Haselden sold 215,275 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $35.57, for a total transaction of $7,657,331.75. Following the completion of the sale, the chief executive officer owned 215,275 shares in the company, valued at approximately $7,657,331.75. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jie (James) Zheng sold 500,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,262,385 shares in the company, valued at approximately $43,451,291.70. This represents a 28.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 833,580 shares of company stock valued at $29,200,266.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AS. UBS Group upped their price target on shares of Amer Sports from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft set a $52.00 target price on shares of Amer Sports in a report on Wednesday, May 20th. Robert W. Baird set a $51.00 target price on shares of Amer Sports in a research note on Wednesday, May 20th. Truist Financial increased their price target on shares of Amer Sports from $49.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings raised shares of Amer Sports from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $48.98.

Amer Sports Stock Down 5.1%

Shares of Amer Sports stock opened at $34.47 on Wednesday. Amer Sports, Inc. has a twelve month low of $28.92 and a twelve month high of $42.76. The company has a quick ratio of 0.82, a current ratio of 1.66 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $34.88 and its 200 day moving average is $35.73. The company has a market cap of $19.09 billion, a price-to-earnings ratio of 43.09, a price-to-earnings-growth ratio of 1.26 and a beta of 2.07.

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

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).