Amer Sports, Inc. (NYSE:AS) Position Increased by Renaissance Capital LLC

Renaissance Capital LLC lifted its holdings in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 116.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,697 shares of the company's stock after acquiring an additional 72,936 shares during the quarter. Amer Sports comprises approximately 2.5% of Renaissance Capital LLC's holdings, making the stock its 21st biggest holding. Renaissance Capital LLC's holdings in Amer Sports were worth $3,794,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AS. Sei Investments Co. grew its stake in Amer Sports by 23.1% during the 2nd quarter. Sei Investments Co. now owns 73,141 shares of the company's stock valued at $919,000 after purchasing an additional 13,748 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in shares of Amer Sports during the third quarter worth approximately $293,000. CWM LLC bought a new stake in shares of Amer Sports in the third quarter worth $73,000. Creative Planning bought a new stake in shares of Amer Sports in the third quarter worth $656,000. Finally, Seven Grand Managers LLC raised its holdings in Amer Sports by 566.7% in the third quarter. Seven Grand Managers LLC now owns 100,000 shares of the company's stock valued at $1,595,000 after acquiring an additional 85,000 shares in the last quarter. 40.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AS has been the subject of several research analyst reports. Robert W. Baird boosted their target price on shares of Amer Sports from $24.00 to $30.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Evercore ISI upped their price objective on Amer Sports from $26.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. The Goldman Sachs Group lifted their target price on Amer Sports from $28.00 to $31.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. TD Cowen upped their price target on Amer Sports from $29.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, UBS Group lifted their price objective on shares of Amer Sports from $27.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Five equities 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.07.

Amer Sports Stock Performance

Shares of NYSE AS traded up $0.70 during midday trading on Thursday, hitting $32.54. 2,792,540 shares of the company's stock were exchanged, compared to its average volume of 2,673,842. The stock's 50 day moving average price is $28.88 and its 200-day moving average price is $20.47. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The firm has a market cap of $17.78 billion and a P/E ratio of -232.41. Amer Sports, Inc. has a twelve month low of $10.11 and a twelve month high of $34.00.

About Amer Sports

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.