# Amer Sports, Inc. (AS)

> Source: Nexqual · https://nexqual.com/AS · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Amer Sports, Inc. (AS), nexqual.com/AS" · informational, not investment advice.

**Price:** USD 28.98 (-2.03% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 29.58 · day 28.92–29.8 · 52w 26.1–42.76 · market cap $16.9B · NYQ

## Key facts
- 1 of 80 tracked superinvestors hold AS (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 9 Form 4 filings, $33.0M; 9 not under a Rule 10b5-1 plan ($33.0M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.81 on a 1–5 scale) (27 analysts), mean target USD 47.24 (range 31–67).
- Total return with dividends: 1Y -8.4% vs S&P 500 +14.9%; 5Y +93.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-17, EPS estimate USD 0.35, revenue estimate $2.14B.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold AS. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Viking Global | Viking Global Investors | 0.57% | $201M | Reduced -18.1% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 9 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-15 | Chen Wen-Chang (victor) | Chief Strategy Officer | 117,461 | $3.1M | 21.3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-09-02 | Page Andrew E | Chief Financial Officer | 2,022 | $58K | 23.5% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-03 | Zheng Jie (james) | Chief Executive Officer | 500,000 | $17.2M | 28.4% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-01 | Chen Wen-Chang (victor) | Chief Strategy Officer | 13,075 | $466K | 8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-01 | Haselden Stuart | CEO of Arc'teryx Equipment | 215,275 | $7.7M | 100% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-26 | Page Andrew E | Chief Financial Officer | 105,230 | $3.9M | 96.3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-16 | Karlsson Jutta C | General Counsel | 662 | $24K | 5.3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-16 | Haselden Stuart | CEO of Arc'teryx Equipment | 11,438 | $415K | 42.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-16 | Page Andrew E | Chief Financial Officer | 6,005 | $218K | 33.7% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.81 on a 1–5 scale), 27 analysts; mean target USD 47.24 (low 31, high 67).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | Jefferies | Initiated | Buy | $42 |
| 2026-09-18 | Wells Fargo | Target lowered | Overweight | $45 → $40 |
| 2026-09-18 | BTIG | Reiterated | Buy | $42 |
| 2026-09-10 | BTIG | Initiated | Buy | $42 |
| 2026-09-09 | BMO Capital | Initiated | Outperform | $38 |
| 2026-08-19 | Truist Securities | Target lowered | Buy | $50 → $42 |
| 2026-08-19 | Barclays | Target raised | Overweight | $49 → $50 |
| 2026-08-04 | JP Morgan | Target raised | Overweight | $59 → $64 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2024-01-29) |
|---|---|---|
| Total return | -8.4% | +93.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -8.4% | +27.4% |
| Volatility (annualized) | 39.7% | 46.0% |
| Max drawdown | -37.4% (Feb 2026→Sep 2026) | -39.1% (Feb 2024→Jul 2024) |

## Peers (Leisure)
HAS (Hasbro, Inc.) USD 117.23 +2.83% · LTH (Life Time Group Holdings, Inc.) USD 41.99 +3.02% · MAT (Mattel, Inc.) USD 16.94 -0.06% · GOLF (Acushnet Holdings Corp.) USD 81.97 +2.50% · PLNT (Planet Fitness, Inc.) USD 53.27 +3.06% · YETI (YETI Holdings, Inc.) USD 44.03 +2.95%

## More
Full page: https://nexqual.com/AS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in AS's own 20-F filed 2026-02-26 (https://www.sec.gov/Archives/edgar/data/1988894/000198889426000004/as-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Tencent | "On April 1, 2019, Amer Sports Corporation was acquired by a consortium consisting of ANTA Sports Products Limited (a sportswear company in China, "ANTA Sports"), FountainVest Partners (a private equity firm in Asia), Ana…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.35 | $0.38 | -9.4% | $2.14B | 16 |
| Next quarter (ends 2026-12-31) | $0.41 | $0.40 | +4.1% | $2.51B | 16 |
| Current fiscal year (ends 2026-12-31) | $1.33 | $1.26 | +5.3% | $8.21B | 21 |
| Next fiscal year (ends 2027-12-31) | $1.65 | $1.57 | +4.9% | $9.45B | 21 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-17): ±12.8%; earnings reaction alone ±8.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 45.8% | ±5.4% |
| 2026-11-06 | 14 | 45.6% | ±7.4% |
| 2026-11-13 | 21 | 43.7% | ±8.6% |
| 2026-11-20 | 28 | 56.6% | ±12.8% |
| 2026-11-27 | 35 | 53.4% | ±13.5% |
| 2026-12-04 | 42 | 51.4% | ±14.1% |
| 2026-12-18 | 56 | 48.4% | ±15.7% |
| 2027-01-15 | 84 | 46.2% | ±18.2% |