Bank of Nova Scotia Sells 539,503 Shares of Amer Sports, Inc. $AS

Bank of Nova Scotia lowered its stake in Amer Sports, Inc. (NYSE:AS) by 26.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,482,800 shares of the company’s stock after selling 539,503 shares during the period. Bank of Nova Scotia’s holdings in Amer Sports were worth $48,814,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Aspex Management HK Ltd lifted its stake in shares of Amer Sports by 27.9% in the fourth quarter. Aspex Management HK Ltd now owns 7,593,627 shares of the company’s stock valued at $283,622,000 after buying an additional 1,658,536 shares during the period. Viking Global Investors LP grew its holdings in shares of Amer Sports by 63.5% during the third quarter. Viking Global Investors LP now owns 6,343,481 shares of the company’s stock worth $220,436,000 after purchasing an additional 2,462,832 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Amer Sports by 1,306.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,214,439 shares of the company’s stock worth $194,759,000 after purchasing an additional 4,843,742 shares in the last quarter. Avala Global LP boosted its position in Amer Sports by 38.8% in the 4th quarter. Avala Global LP now owns 4,637,149 shares of the company’s stock valued at $173,198,000 after buying an additional 1,297,200 shares during the last quarter. Finally, Morgan Stanley increased its position in Amer Sports by 16.0% in the fourth quarter. Morgan Stanley now owns 3,707,204 shares of the company’s stock worth $138,464,000 after purchasing an additional 510,419 shares during the period. Institutional investors own 40.25% of the company’s stock.

Amer Sports Stock Performance

Amer Sports stock opened at $34.02 on Friday. The firm has a fifty day simple moving average of $34.94 and a two-hundred day simple moving average of $35.67. The company has a quick ratio of 0.82, a current ratio of 1.66 and a debt-to-equity ratio of 0.10. Amer Sports, Inc. has a twelve month low of $28.92 and a twelve month high of $42.76. The company has a market capitalization of $18.84 billion, a PE ratio of 42.53, a P/E/G ratio of 1.16 and a beta of 2.07.

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

Insider Buying and Selling at Amer Sports

In other Amer Sports news, CEO Jie (James) Zheng sold 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $34.42, for a total transaction of $17,210,000.00. Following the completion of the transaction, the chief executive officer owned 1,262,385 shares of the company’s stock, valued at approximately $43,451,291.70. This trade represents a 28.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wen-Chang (Victor) Chen sold 13,075 shares of Amer Sports stock in a transaction on Monday, June 1st. The shares were 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. The trade was a 8.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 833,580 shares of company stock worth $29,200,266.

Wall Street Analyst Weigh In

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

Amer Sports Profile

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).