WCM Investment Management LLC Sells 386,264 Shares of Amer Sports, Inc. (NYSE:AS)

WCM Investment Management LLC cut its holdings in shares of Amer Sports, Inc. (NYSE:AS) by 29.0% in the 4th quarter, HoldingsChannel reports. The firm owned 943,828 shares of the company’s stock after selling 386,264 shares during the quarter. WCM Investment Management LLC’s holdings in Amer Sports were worth $26,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in AS. CWM LLC bought a new position in Amer Sports during the third quarter valued at about $73,000. Creative Planning bought a new position in shares of Amer Sports during the 3rd quarter valued at approximately $656,000. Seven Grand Managers LLC increased its stake in shares of Amer Sports by 566.7% during the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock worth $1,595,000 after purchasing an additional 85,000 shares during the last quarter. Signaturefd LLC bought a new stake in shares of Amer Sports in the 3rd quarter worth approximately $49,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Amer Sports by 47.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 116,970 shares of the company’s stock worth $1,866,000 after purchasing an additional 37,500 shares during the period. 40.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on AS. Robert W. Baird raised their target price on Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. lifted their price objective on Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Wells Fargo & Company upped their price objective on shares of Amer Sports from $20.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. The Goldman Sachs Group lifted their target price on shares of Amer Sports from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, HSBC cut shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Monday, December 16th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amer Sports presently has an average rating of “Moderate Buy” and a consensus price target of $27.07.

Amer Sports Price Performance

NYSE:AS opened at $30.90 on Friday. Amer Sports, Inc. has a 52-week low of $10.11 and a 52-week high of $34.00. The stock has a fifty day moving average of $29.10 and a 200 day moving average of $20.69. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. The firm has a market capitalization of $16.88 billion and a price-to-earnings ratio of -220.69.

Amer Sports Company 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.