GAM Holding AG Makes New Investment in Amer Sports, Inc. (NYSE:AS)

GAM Holding AG acquired a new stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 481,400 shares of the company's stock, valued at approximately $13,460,000. Amer Sports accounts for approximately 1.0% of GAM Holding AG's investment portfolio, making the stock its 27th biggest position. GAM Holding AG owned 0.09% of Amer Sports as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AS. BNP Paribas Financial Markets raised its position in shares of Amer Sports by 734.8% during the third quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company's stock worth $1,288,000 after purchasing an additional 71,086 shares during the period. Woodson Capital Management LP acquired a new position in shares of Amer Sports in the third quarter valued at approximately $12,907,000. XTX Topco Ltd bought a new stake in shares of Amer Sports during the third quarter worth $609,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Amer Sports during the third quarter worth $337,000. Finally, State Street Corp raised its holdings in shares of Amer Sports by 65.1% during the third quarter. State Street Corp now owns 884,526 shares of the company's stock worth $14,108,000 after acquiring an additional 348,877 shares during the period. Institutional investors own 40.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Sanford C. Bernstein began coverage on Amer Sports in a report on Thursday, February 13th. They set an "outperform" rating and a $38.00 target price for the company. Evercore ISI boosted their target price on Amer Sports from $26.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. HSBC cut shares of Amer Sports from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research note on Monday, December 16th. Wells Fargo & Company lifted their price target on shares of Amer Sports from $20.00 to $25.00 and gave the company an "equal weight" rating in a research note on Friday, December 20th. Finally, Robert W. Baird boosted their price target 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. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $28.64.

Amer Sports Stock Performance

Amer Sports stock traded down $0.76 during mid-day trading on Friday, hitting $28.58. 4,577,991 shares of the company's stock traded hands, compared to its average volume of 2,791,576. The stock has a market cap of $15.61 billion and a price-to-earnings ratio of -204.10. The firm has a 50 day simple moving average of $29.96 and a two-hundred day simple moving average of $21.90. Amer Sports, Inc. has a fifty-two week low of $10.11 and a fifty-two week high of $34.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77.

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.