Exchange Traded Concepts LLC Takes Position in Amer Sports, Inc. (NYSE:AS)

Exchange Traded Concepts LLC purchased a new stake in Amer Sports, Inc. (NYSE:AS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 89,888 shares of the company's stock, valued at approximately $2,513,000.

Several other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Amer Sports during the fourth quarter worth about $269,000. West Branch Capital LLC grew its position in shares of Amer Sports by 14,285.7% in the 4th quarter. West Branch Capital LLC now owns 1,007 shares of the company's stock valued at $28,000 after acquiring an additional 1,000 shares during the period. Dakota Wealth Management acquired a new stake in Amer Sports in the 4th quarter valued at about $1,083,000. Capricorn Fund Managers Ltd acquired a new position in Amer Sports during the fourth quarter worth approximately $3,834,000. Finally, Artemis Investment Management LLP raised its stake in Amer Sports by 35.1% in the fourth quarter. Artemis Investment Management LLP now owns 24,817 shares of the company's stock valued at $694,000 after buying an additional 6,444 shares during the period. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AS has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Amer Sports from $19.00 to $27.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. TD Cowen increased their price objective on Amer Sports from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Citigroup raised their price target on shares of Amer Sports from $24.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Wells Fargo & Company increased their target price on shares of Amer Sports from $20.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Friday, December 20th. Finally, UBS Group lifted their price target on shares of Amer Sports from $27.00 to $37.00 and gave the company a "buy" rating in a research report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $27.07.

Amer Sports Stock Performance

NYSE AS traded down $0.24 during trading hours on Friday, reaching $30.62. 1,950,320 shares of the company were exchanged, compared to its average volume of 2,159,842. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $16.73 billion and a P/E ratio of -218.72. The business's 50 day simple moving average is $27.50 and its 200-day simple moving average is $19.38. Amer Sports, Inc. has a 1 year low of $10.11 and a 1 year high of $31.60.

Amer Sports 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.