PDT Partners LLC Purchases New Shares in Amer Sports, Inc. (NYSE:AS)

PDT Partners LLC acquired a new position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 106,481 shares of the company's stock, valued at approximately $1,698,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Woodson Capital Management LP bought a new stake in shares of Amer Sports during the third quarter worth $12,907,000. Shellback Capital LP raised its holdings in shares of Amer Sports by 5.0% during the second quarter. Shellback Capital LP now owns 525,000 shares of the company's stock valued at $6,599,000 after purchasing an additional 25,000 shares during the period. Creative Planning bought a new stake in shares of Amer Sports during the third quarter worth about $656,000. Bank of New York Mellon Corp bought a new stake in Amer Sports in the 2nd quarter worth about $3,164,000. Finally, Seven Grand Managers LLC grew its position in shares of Amer Sports by 566.7% during the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company's stock valued at $1,595,000 after acquiring an additional 85,000 shares during the period. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Amer Sports Price Performance

Shares of AS stock traded up $0.46 during mid-day trading on Friday, hitting $26.33. The company had a trading volume of 1,542,160 shares, compared to its average volume of 2,576,251. Amer Sports, Inc. has a 52-week low of $10.11 and a 52-week high of $26.85. The stock's 50 day moving average price is $19.20 and its 200-day moving average price is $15.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The company has a market capitalization of $13.30 billion and a P/E ratio of -188.06.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AS. Nomura Securities upgraded shares of Amer Sports to a "strong-buy" rating in a research note on Tuesday, September 24th. Wells Fargo & Company raised their price objective on shares of Amer Sports from $19.00 to $20.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 20th. Evercore ISI reaffirmed an "outperform" rating and set a $26.00 target price (up previously from $25.00) on shares of Amer Sports in a report on Wednesday, November 20th. JPMorgan Chase & Co. increased their target price on shares of Amer Sports from $19.00 to $26.00 and gave the company an "overweight" rating in a report on Wednesday, November 20th. Finally, Robert W. Baird raised their price target on shares of Amer Sports from $20.00 to $24.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amer Sports presently has an average rating of "Moderate Buy" and a consensus target price of $21.43.

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.