Arrowstreet Capital Limited Partnership Makes New Investment in Amer Sports, Inc. (NYSE:AS)

Arrowstreet Capital Limited Partnership purchased a new position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,341,843 shares of the company's stock, valued at approximately $37,518,000. Arrowstreet Capital Limited Partnership owned about 0.25% of Amer Sports as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. DnB Asset Management AS acquired a new position in Amer Sports during the fourth quarter worth $487,000. Norges Bank bought a new stake in Amer Sports during the 4th quarter worth about $12,424,000. JPMorgan Chase & Co. lifted its position in Amer Sports by 33,494.4% during the 4th quarter. JPMorgan Chase & Co. now owns 524,072 shares of the company's stock worth $14,653,000 after buying an additional 522,512 shares in the last quarter. Brilliance Asset Management Ltd. boosted its stake in shares of Amer Sports by 5.1% during the 4th quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company's stock worth $113,883,000 after buying an additional 196,380 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of Amer Sports in the 4th quarter valued at about $556,000. 40.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AS has been the topic of several analyst reports. UBS Group upped their target price on Amer Sports from $37.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Citigroup upped their price objective on Amer Sports from $24.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Robert W. Baird raised their target price on shares of Amer Sports from $24.00 to $30.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. HSBC downgraded shares of Amer Sports from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a report on Monday, December 16th. Finally, Hsbc Global Res cut shares of Amer Sports from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $32.64.

Amer Sports Stock Performance

Shares of NYSE:AS traded down $1.21 on Monday, hitting $22.53. The company had a trading volume of 6,356,903 shares, compared to its average volume of 2,379,680. The stock has a market cap of $12.48 billion, a price-to-earnings ratio of -160.88, a P/E/G ratio of 0.72 and a beta of 2.66. The stock has a 50 day moving average price of $29.03 and a 200 day moving average price of $25.31. Amer Sports, Inc. has a 1-year low of $10.11 and a 1-year high of $34.00. 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 (NYSE:AS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, meeting analysts' consensus estimates of $0.17. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The business's revenue for the quarter was up 23.2% on a year-over-year basis. Analysts expect that Amer Sports, Inc. will post 0.46 EPS for the current year.

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.