Renaissance Capital LLC Cuts Stock Holdings in Amer Sports, Inc. (NYSE:AS)

Renaissance Capital LLC reduced its stake in Amer Sports, Inc. (NYSE:AS) by 42.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,761 shares of the company’s stock after selling 46,065 shares during the quarter. Amer Sports makes up 0.7% of Renaissance Capital LLC’s investment portfolio, making the stock its 28th largest holding. Renaissance Capital LLC’s holdings in Amer Sports were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Hood River Capital Management LLC purchased a new position in Amer Sports during the first quarter worth about $47,778,000. Point72 Hong Kong Ltd lifted its position in shares of Amer Sports by 557.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock worth $41,161,000 after buying an additional 2,776,619 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Amer Sports by 308.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock worth $39,045,000 after buying an additional 2,345,420 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Amer Sports in the first quarter valued at approximately $7,301,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Amer Sports during the first quarter worth $5,705,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. UBS Group upped their price objective on Amer Sports from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. TD Cowen raised their price objective on shares of Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Wells Fargo & Company lowered shares of Amer Sports from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $17.00 to $19.00 in a research note on Monday. Finally, Evercore ISI reiterated an “outperform” rating and issued a $21.00 price objective on shares of Amer Sports in a research note on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.86.

Amer Sports Trading Down 6.7 %

AS stock opened at $18.03 on Wednesday. Amer Sports, Inc. has a twelve month low of $10.11 and a twelve month high of $19.73. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58. The stock has a 50-day simple moving average of $14.70 and a two-hundred day simple moving average of $14.06.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business had revenue of $993.80 million for the quarter, compared to analyst estimates 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, sell-side analysts predict that Amer Sports, Inc. will post 0.43 EPS for the current year.

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.