Renaissance Capital LLC Lowers Stock Position in Amer Sports, Inc. (NYSE:AS)

Renaissance Capital LLC lessened its stake in Amer Sports, Inc. (NYSE:AS) by 42.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,761 shares of the company’s stock after selling 46,065 shares during the period. Amer Sports makes up about 0.7% of Renaissance Capital LLC’s holdings, making the stock its 28th biggest 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 (SEC).

Other institutional investors have also recently made changes to their positions in the company. Capstone Investment Advisors LLC bought a new stake in shares of Amer Sports during the 1st quarter worth $7,301,000. Sei Investments Co. bought a new stake in Amer Sports during the first quarter worth about $968,000. Value Star Asset Management Hong Kong Ltd bought a new position in shares of Amer Sports during the 1st quarter valued at about $2,061,000. Tocqueville Asset Management L.P. bought a new position in shares of Amer Sports during the 1st quarter valued at about $813,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Amer Sports during the 1st quarter valued at about $5,705,000. Institutional investors own 40.25% of the company’s stock.

Amer Sports Trading Down 6.7 %

NYSE:AS opened at $18.03 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81. Amer Sports, Inc. has a one year low of $10.11 and a one year high of $19.73. The company’s 50-day simple moving average is $14.70 and its 200 day simple moving average is $14.06.

Amer Sports (NYSE:AS) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The firm had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities analysts anticipate that Amer Sports, Inc. will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Amer Sports 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.