WCM Investment Management LLC Decreases Stock Holdings in Amer Sports, Inc. (NYSE:AS)

WCM Investment Management LLC cut its holdings in Amer Sports, Inc. (NYSE:AS - Free Report) by 29.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 943,828 shares of the company's stock after selling 386,264 shares during the period. WCM Investment Management LLC owned about 0.17% of Amer Sports worth $26,805,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Choreo LLC acquired a new position in Amer Sports in the 4th quarter worth $250,000. WT Asset Management Ltd boosted its stake in shares of Amer Sports by 188.2% during the 4th quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company's stock worth $100,834,000 after acquiring an additional 2,355,182 shares in the last quarter. Renaissance Capital LLC lifted its position in shares of Amer Sports by 116.2% in the 4th quarter. Renaissance Capital LLC now owns 135,697 shares of the company's stock valued at $3,794,000 after acquiring an additional 72,936 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Amer Sports by 15.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 135,570 shares of the company's stock valued at $3,791,000 after acquiring an additional 18,600 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Amer Sports in the fourth quarter worth $104,000. 40.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AS. The Goldman Sachs Group lifted their price target on shares of Amer Sports from $28.00 to $31.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Evercore ISI boosted their price target on Amer Sports from $26.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Wells Fargo & Company raised their target price on Amer Sports from $20.00 to $25.00 and gave the company an "equal weight" rating in a research note on Friday, December 20th. Morgan Stanley upped their target price on shares of Amer Sports from $19.00 to $27.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. Finally, UBS Group increased their price target on Amer Sports from $27.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.07.

Amer Sports Trading Up 2.3 %

NYSE:AS traded up $0.69 during trading hours on Wednesday, hitting $30.16. 3,688,980 shares of the company were exchanged, compared to its average volume of 2,781,360. The company has a fifty day simple moving average of $29.27 and a 200 day simple moving average of $21.10. Amer Sports, Inc. has a one year low of $10.11 and a one year high of $34.00. The stock has a market capitalization of $16.48 billion and a price-to-earnings ratio of -215.41. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58.

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.