Bank of New York Mellon Corp Trims Stock Holdings in Amer Sports, Inc. (NYSE:AS)

Bank of New York Mellon Corp trimmed its position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 23.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 155,363 shares of the company's stock after selling 47,781 shares during the quarter. Bank of New York Mellon Corp's holdings in Amer Sports were worth $4,344,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. acquired a new position in shares of Amer Sports during the third quarter valued at about $25,000. West Branch Capital LLC increased its holdings in shares of Amer Sports by 14,285.7% during the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company's stock valued at $28,000 after acquiring an additional 1,000 shares in the last quarter. Kieckhefer Group LLC acquired a new position in shares of Amer Sports during the fourth quarter valued at about $42,000. GAMMA Investing LLC increased its holdings in shares of Amer Sports by 61.8% during the fourth quarter. GAMMA Investing LLC now owns 1,942 shares of the company's stock valued at $54,000 after acquiring an additional 742 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Amer Sports during the third quarter valued at about $61,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

Amer Sports Price Performance

Amer Sports stock traded down $0.23 during trading on Friday, reaching $28.94. The company had a trading volume of 2,001,867 shares, compared to its average volume of 2,216,022. The firm's 50-day simple moving average is $29.78 and its 200 day simple moving average is $24.21. Amer Sports, Inc. has a 1-year low of $10.11 and a 1-year high of $34.00. The firm has a market capitalization of $16.03 billion and a PE ratio of -206.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62.

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Amer Sports (NYSE:AS - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.60 billion. The business's revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities research analysts anticipate that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Amer Sports from $25.00 to $28.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. The Goldman Sachs Group lifted their target price on shares of Amer Sports from $28.00 to $31.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Hsbc Global Res lowered shares of Amer Sports from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Citigroup lifted their target price on shares of Amer Sports from $24.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Amer Sports from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $32.64.

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.