Illinois Municipal Retirement Fund Cuts Stock Position in Amer Sports, Inc. $AS

Illinois Municipal Retirement Fund cut its holdings in shares of Amer Sports, Inc. (NYSE:AS) by 35.7% during the first quarter, Holdings Channel.com reports. The fund owned 54,888 shares of the company’s stock after selling 30,520 shares during the period. Illinois Municipal Retirement Fund’s holdings in Amer Sports were worth $1,807,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Amer Sports by 9.3% during the third quarter. JPMorgan Chase & Co. now owns 684,783 shares of the company’s stock valued at $23,796,000 after purchasing an additional 58,350 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in 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 purchased a new position in Amer Sports in the fourth quarter worth about $3,927,000. Ogborne Capital Management LLC purchased a new position in Amer Sports in the fourth quarter worth about $22,257,000. Finally, Norges Bank bought a new stake in Amer Sports during the fourth quarter worth approximately $70,055,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amer Sports

In related news, insider Wen-Chang (Victor) Chen sold 13,075 shares of the 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 transaction, the insider owned 149,821 shares of the company’s stock, valued at $5,336,624.02. This represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stuart Haselden sold 215,275 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $35.57, for a total value of $7,657,331.75. Following the transaction, the chief executive officer owned 215,275 shares in the company, valued at $7,657,331.75. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 833,580 shares of company stock worth $29,200,266.

Amer Sports Trading Down 0.5%

AS stock opened at $36.27 on Tuesday. Amer Sports, Inc. has a 12 month low of $28.92 and a 12 month high of $42.76. The firm’s 50-day moving average is $34.87 and its 200 day moving average is $35.75. The company has a market capitalization of $20.09 billion, a PE ratio of 45.34, a P/E/G ratio of 1.27 and a beta of 2.07. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.66 and a quick ratio of 0.82.

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

Wall Street Analyst Weigh In

AS has been the topic of a number of recent research reports. UBS Group upped their price objective on Amer Sports from $60.00 to $62.00 and gave the company 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 report on Wednesday, May 20th. Truist Financial increased their price target on Amer Sports from $49.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft set a $52.00 price target on Amer Sports in a report on Wednesday, May 20th. Finally, Weiss Ratings raised shares of Amer Sports from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $48.70.

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).