Monolith Management Ltd Buys New Stake in Amer Sports, Inc. (NYSE:AS)

Monolith Management Ltd bought a new stake in Amer Sports, Inc. (NYSE:AS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 404,272 shares of the company's stock, valued at approximately $11,303,000. Amer Sports comprises about 5.9% of Monolith Management Ltd's holdings, making the stock its 6th largest position. Monolith Management Ltd owned approximately 0.07% of Amer Sports as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Element Capital Management LLC purchased a new stake in Amer Sports in the 4th quarter worth approximately $357,000. GAM Holding AG purchased a new stake in Amer Sports in the 4th quarter worth approximately $13,460,000. Renaissance Capital LLC boosted its position in Amer Sports by 116.2% in the 4th quarter. Renaissance Capital LLC now owns 135,697 shares of the company's stock worth $3,794,000 after purchasing an additional 72,936 shares in the last quarter. Pamalican Asset Management Ltd purchased a new stake in Amer Sports in the 4th quarter worth approximately $20,970,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Amer Sports in the 4th quarter worth approximately $283,000. Hedge funds and other institutional investors own 40.25% of the company's stock.

Amer Sports Stock Up 0.4 %

AS traded up $0.09 during trading hours on Monday, hitting $24.27. 2,201,232 shares of the company's stock were exchanged, compared to its average volume of 2,523,427. Amer Sports, Inc. has a 12-month low of $10.11 and a 12-month high of $34.00. The firm has a 50 day moving average of $26.20 and a 200 day moving average of $25.91. The firm has a market cap of $13.44 billion, a P/E ratio of -173.34, a price-to-earnings-growth ratio of 0.72 and a beta of 2.66. 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 earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.60 billion. The firm's revenue was up 23.2% on a year-over-year basis. Analysts predict that Amer Sports, Inc. will post 0.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on AS. Citigroup reduced their target price on Amer Sports from $36.00 to $30.00 and set a "buy" rating for the company in a research note on Monday. TD Cowen boosted their target price on shares of Amer Sports from $29.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. UBS Group boosted their target price on shares of Amer Sports from $37.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their target price on shares of Amer Sports from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Finally, Wells Fargo & Company upped 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. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amer Sports currently has a consensus rating of "Moderate Buy" and an average price target of $31.82.

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.