WT Asset Management Ltd Has $19.96 Million Position in Amer Sports, Inc. (NYSE:AS)

WT Asset Management Ltd grew its position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 104.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,251,181 shares of the company's stock after buying an additional 638,939 shares during the period. Amer Sports comprises 3.9% of WT Asset Management Ltd's portfolio, making the stock its 11th largest position. WT Asset Management Ltd owned 0.25% of Amer Sports worth $19,956,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Signaturefd LLC acquired a new stake in Amer Sports during the third quarter worth about $49,000. CWM LLC bought a new position in shares of Amer Sports during the third quarter valued at approximately $73,000. Dnca Finance acquired a new stake in shares of Amer Sports during the 2nd quarter worth approximately $81,000. Amalgamated Bank bought a new stake in shares of Amer Sports in the 2nd quarter worth approximately $83,000. Finally, Artemis Investment Management LLP acquired a new position in Amer Sports during the 3rd quarter valued at approximately $293,000. 40.25% of the stock is currently owned by institutional investors.

Amer Sports Price Performance

AS traded down $0.03 during trading on Friday, reaching $17.82. The company had a trading volume of 1,224,633 shares, compared to its average volume of 1,665,268. Amer Sports, Inc. has a 12-month low of $10.11 and a 12-month high of $19.73. The firm's 50-day simple moving average is $16.16 and its 200 day simple moving average is $14.33. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.11. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business had revenue of $993.80 million during the quarter, compared to the consensus estimate of $947.59 million. The business's revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities analysts forecast that Amer Sports, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AS. Nomura Securities upgraded Amer Sports to a "strong-buy" rating in a research note on Tuesday, September 24th. UBS Group lifted their price target on Amer Sports from $17.00 to $19.00 and gave the company a "buy" rating in a report on Wednesday, August 21st. Wells Fargo & Company lowered Amer Sports from an "overweight" rating to an "equal weight" rating and increased their price objective for the stock from $17.00 to $19.00 in a report on Monday, October 14th. Evercore ISI reaffirmed an "outperform" rating and set a $21.00 target price on shares of Amer Sports in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group boosted their price target on Amer Sports from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.86.

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.