CI Investments Inc. Invests $56.13 Million in Amer Sports, Inc. $AS

CI Investments Inc. purchased a new stake in shares of Amer Sports, Inc. (NYSE:AS) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,704,951 shares of the company’s stock, valued at approximately $56,127,000. CI Investments Inc. owned about 0.31% of Amer Sports as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AS. Kestra Advisory Services LLC bought a new stake in Amer Sports in the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Amer Sports by 484.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 848 shares of the company’s stock valued at $29,000 after acquiring an additional 703 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Amer Sports by 1,030.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 814 shares of the company’s stock worth $30,000 after purchasing an additional 742 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Amer Sports by 241.6% during the third quarter. PNC Financial Services Group Inc. now owns 1,199 shares of the company’s stock worth $42,000 after purchasing an additional 848 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Amer Sports by 174.3% in the second quarter. Smartleaf Asset Management LLC now owns 1,591 shares of the company’s stock worth $63,000 after purchasing an additional 1,011 shares during the last quarter. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Wall Street Analyst Weigh In

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

Amer Sports Trading Down 5.1%

Shares of AS opened at $34.47 on Wednesday. Amer Sports, Inc. has a 1-year low of $28.92 and a 1-year high of $42.76. The company has a current ratio of 1.66, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average price is $34.88 and its 200-day moving average price is $35.73. The firm has a market capitalization of $19.09 billion, a price-to-earnings ratio of 43.09, a PEG ratio of 1.26 and a beta of 2.07.

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

Insider Transactions at Amer Sports

In other news, insider Wen-Chang (Victor) Chen sold 13,075 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $35.62, for a total value of $465,731.50. Following the completion of the transaction, the insider owned 149,821 shares in the company, valued at $5,336,624.02. This trade represents a 8.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jie (James) Zheng sold 500,000 shares of Amer Sports stock in a transaction that occurred on 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 sale, the chief executive officer owned 1,262,385 shares in the company, valued at $43,451,291.70. This represents a 28.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 833,580 shares of company stock worth $29,200,266 over the last 90 days.

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).