Bank of America Corp DE Has $84.73 Million Stock Position in Amer Sports, Inc. $AS

Bank of America Corp DE lowered its position in Amer Sports, Inc. (NYSE:AS) by 4.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,573,787 shares of the company’s stock after selling 109,147 shares during the period. Bank of America Corp DE’s holdings in Amer Sports were worth $84,729,000 at the end of the most recent quarter.

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

Amer Sports Stock Up 2.3%

AS stock opened at $36.94 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.66 and a quick ratio of 0.82. The stock has a market capitalization of $20.46 billion, a P/E ratio of 46.18, a P/E/G ratio of 1.28 and a beta of 2.05. The business has a 50-day moving average of $35.11 and a 200-day moving average of $35.54. Amer Sports, Inc. has a fifty-two week low of $28.92 and a fifty-two week high of $42.76.

Amer Sports (NYSE:AS) last announced its earnings results on Tuesday, May 19th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. Amer Sports had a return on equity of 10.29% and a net margin of 6.50%.The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm earned $0.27 EPS. Amer Sports’s revenue for the quarter was up 32.1% compared to the same quarter last year. Amer Sports has set its FY 2026 guidance at 1.180-1.230 EPS. On average, sell-side analysts anticipate that Amer Sports, Inc. will post 1.22 earnings per share for the current fiscal year.

Insider Transactions at Amer Sports

In other news, 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 transaction of $17,210,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,262,385 shares of the company’s stock, valued at $43,451,291.70. This trade represents a 28.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stuart Haselden sold 215,275 shares of Amer Sports stock in a transaction that occurred on Monday, June 1st. The shares were 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 $7,657,331.75. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 833,580 shares of company stock worth $29,200,266.

Analysts Set New Price Targets

AS has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and set a $45.00 target price on shares of Amer Sports in a research note on Monday, July 27th. Truist Financial lifted their price target on shares of Amer Sports from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. UBS Group upped their price target on shares of Amer Sports from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Robert W. Baird set a $51.00 price objective on shares of Amer Sports in a research report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft set a $52.00 price objective on shares of Amer Sports in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Amer Sports has an average rating of “Buy” and a consensus price target of $49.70.

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).