Boothbay Fund Management LLC Sells 32,909 Shares of Amer Sports, Inc. $AS

Boothbay Fund Management LLC trimmed its holdings in shares of Amer Sports, Inc. (NYSE:AS) by 12.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 228,845 shares of the company’s stock after selling 32,909 shares during the period. Boothbay Fund Management LLC’s holdings in Amer Sports were worth $8,870,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of AS. Citigroup Inc. raised its position in Amer Sports by 1,402.2% in the 1st quarter. Citigroup Inc. now owns 441,628 shares of the company’s stock worth $11,805,000 after buying an additional 412,229 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Amer Sports during the second quarter valued at approximately $6,032,000. Jefferies Financial Group Inc. bought a new position in Amer Sports during the second quarter valued at approximately $5,447,000. Creative Planning lifted its position in Amer Sports by 45.7% during the second quarter. Creative Planning now owns 74,782 shares of the company’s stock valued at $2,899,000 after purchasing an additional 23,450 shares during the period. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Amer Sports in the second quarter worth approximately $397,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AS shares. Hsbc Global Res raised Amer Sports from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 27th. Wells Fargo & Company increased their target price on Amer Sports from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, September 22nd. HSBC set a $50.00 target price on Amer Sports and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Barclays started coverage on shares of Amer Sports in a research report on Tuesday. They set an “overweight” rating and a $49.00 price target for the company. Finally, Morgan Stanley set a $41.00 price objective on shares of Amer Sports and gave the stock a “positive” rating in a report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.34.

Amer Sports Stock Performance

AS opened at $38.34 on Friday. The firm has a market cap of $21.23 billion, a P/E ratio of 69.71, a PEG ratio of 1.07 and a beta of 2.85. Amer Sports, Inc. has a 1-year low of $20.21 and a 1-year high of $42.36. The company has a 50 day simple moving average of $33.40 and a two-hundred day simple moving average of $36.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.51 and a quick ratio of 0.70.

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