Harvest Fund Management Co. Ltd Buys New Position in Amer Sports, Inc. (NYSE:AS)

Harvest Fund Management Co. Ltd bought a new position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 30,443 shares of the company's stock, valued at approximately $851,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new stake in Amer Sports in the third quarter worth about $25,000. West Branch Capital LLC boosted its holdings in 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 purchasing an additional 1,000 shares during the period. Kieckhefer Group LLC purchased a new position in shares of Amer Sports during the 4th quarter valued at $42,000. GAMMA Investing LLC increased its holdings in shares of Amer Sports by 61.8% in the fourth quarter. GAMMA Investing LLC now owns 1,942 shares of the company's stock worth $54,000 after purchasing an additional 742 shares during the period. Finally, Quarry LP purchased a new stake in shares of Amer Sports in the third quarter worth $61,000. 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 recent analyst reports. The Goldman Sachs Group boosted 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. Morgan Stanley upped their price objective on shares of Amer Sports from $19.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. 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 objective on shares of Amer Sports from $25.00 to $28.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Finally, UBS Group increased their target price on Amer Sports from $37.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.64.

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Amer Sports Trading Down 2.1 %

AS stock traded down $0.62 during midday trading on Tuesday, hitting $28.85. The company had a trading volume of 2,299,698 shares, compared to its average volume of 2,218,842. 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, Inc. has a 52 week low of $10.11 and a 52 week high of $34.00. The stock has a market cap of $15.98 billion and a price-to-earnings ratio of -206.06. The stock's 50 day moving average price is $29.78 and its 200 day moving average price is $24.46.

Amer Sports (NYSE:AS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The company's revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts expect that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal 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.