Pamalican Asset Management Ltd Acquires Shares of 750,000 Amer Sports, Inc. (NYSE:AS)

Pamalican Asset Management Ltd bought a new stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 750,000 shares of the company's stock, valued at approximately $20,970,000. Amer Sports comprises approximately 9.3% of Pamalican Asset Management Ltd's portfolio, making the stock its 3rd largest holding. Pamalican Asset Management Ltd owned approximately 0.14% of Amer Sports at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in Amer Sports by 734.8% in the third quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company's stock valued at $1,288,000 after purchasing an additional 71,086 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Amer Sports in the 3rd quarter valued at $609,000. Element Capital Management LLC acquired a new stake in Amer Sports during the 4th quarter worth $357,000. Public Employees Retirement System of Ohio bought a new position in Amer Sports during the third quarter worth about $337,000. Finally, State Street Corp grew its stake in Amer Sports by 65.1% in the third quarter. State Street Corp now owns 884,526 shares of the company's stock valued at $14,108,000 after acquiring an additional 348,877 shares during the period. Institutional investors and hedge funds own 40.25% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AS. Hsbc Global Res cut Amer Sports from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Citigroup lifted their price target on shares of Amer Sports from $24.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Sanford C. Bernstein began coverage on shares of Amer Sports in a research report on Thursday, February 13th. They set an "outperform" rating and a $38.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of Amer Sports from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, UBS Group lifted their price target 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 analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amer Sports currently has an average rating of "Moderate Buy" and a consensus target price of $32.64.

Amer Sports Stock Down 0.0 %

Shares of NYSE AS traded down $0.01 during trading hours on Wednesday, hitting $20.96. The company had a trading volume of 2,790,336 shares, compared to its average volume of 2,398,520. Amer Sports, Inc. has a 1-year low of $10.11 and a 1-year high of $34.00. 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 firm's 50 day moving average is $28.56 and its 200-day moving average is $25.31. The stock has a market capitalization of $11.61 billion, a P/E ratio of -150.19, a price-to-earnings-growth ratio of 0.72 and a beta of 2.66.

Amer Sports (NYSE:AS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, meeting analysts' consensus estimates of $0.17. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 23.2% on a year-over-year basis. On average, 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.