Pinpoint Asset Management Ltd Purchases 380,633 Shares of Amer Sports, Inc. (NYSE:AS)

Pinpoint Asset Management Ltd lifted its holdings in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 499.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 456,830 shares of the company's stock after buying an additional 380,633 shares during the quarter. Amer Sports comprises approximately 2.3% of Pinpoint Asset Management Ltd's investment portfolio, making the stock its 11th biggest holding. Pinpoint Asset Management Ltd owned about 0.08% of Amer Sports worth $12,773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. West Branch Capital LLC lifted its stake in Amer Sports by 14,285.7% in the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company's stock valued at $28,000 after buying an additional 1,000 shares during the period. Kieckhefer Group LLC acquired a new position in Amer Sports during the fourth quarter valued at approximately $42,000. JPMorgan Chase & Co. bought a new stake in Amer Sports in the third quarter valued at approximately $25,000. GAMMA Investing LLC raised its holdings in 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, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Amer Sports in the 4th quarter valued at $104,000. 40.25% of the stock is owned by institutional investors.

Amer Sports Stock Down 0.9 %

Shares of Amer Sports stock traded down $0.19 on Wednesday, reaching $20.78. 2,512,351 shares of the company were exchanged, compared to its average volume of 2,397,217. Amer Sports, Inc. has a one year low of $10.11 and a one year high of $34.00. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $28.56 and a 200 day moving average of $25.31. The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of -148.06, a PEG ratio of 0.72 and a beta of 2.66.

Amer Sports (NYSE:AS - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.60 billion. The firm's quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts forecast that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

AS has been the topic of several recent analyst reports. Evercore ISI boosted their target price on Amer Sports from $26.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. The Goldman Sachs Group raised their target price on shares of Amer Sports from $28.00 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Sanford C. Bernstein began coverage on shares of Amer Sports in a report on Thursday, February 13th. They set an "outperform" rating and a $38.00 price objective on the stock. 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, Hsbc Global Res lowered Amer Sports from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $32.64.

Amer Sports Company 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.