Platinum Investment Management Ltd. reduced its holdings in Amer Sports, Inc. (NYSE:AS - Free Report) by 16.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 250,000 shares of the company's stock after selling 50,000 shares during the period. Amer Sports makes up 0.4% of Platinum Investment Management Ltd.'s portfolio, making the stock its 27th largest holding. Platinum Investment Management Ltd.'s holdings in Amer Sports were worth $6,990,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in Amer Sports by 61.8% during the 4th quarter. GAMMA Investing LLC now owns 1,942 shares of the company's stock valued at $54,000 after buying an additional 742 shares during the period. West Branch Capital LLC raised its stake in shares of 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 acquiring an additional 1,000 shares during the period. Signaturefd LLC raised its stake in shares of Amer Sports by 35.0% in the fourth quarter. Signaturefd LLC now owns 4,136 shares of the company's stock valued at $116,000 after acquiring an additional 1,073 shares during the period. Kieckhefer Group LLC bought a new stake in shares of Amer Sports in the 4th quarter worth about $42,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Amer Sports during the 3rd quarter worth about $25,000. 40.25% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. TD Cowen raised their price objective on shares of Amer Sports from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Wells Fargo & Company raised their price target on Amer Sports from $25.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Citigroup upped their price objective on Amer Sports from $24.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Evercore ISI lifted their target price on Amer Sports from $26.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. Finally, UBS Group upped their price target on shares of Amer Sports from $37.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.64.
Get Our Latest Stock Report on Amer Sports
Amer Sports Stock Down 0.8 %
NYSE AS traded down $0.23 during trading on Friday, reaching $28.94. 2,001,867 shares of the company's stock traded hands, compared to its average volume of 2,219,772. The company's 50 day simple moving average is $29.78 and its two-hundred day simple moving average is $24.28. Amer Sports, Inc. has a 12-month low of $10.11 and a 12-month high of $34.00. The firm has a market cap of $16.03 billion and a price-to-earnings ratio of -206.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77.
Amer Sports (NYSE:AS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, hitting 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 business's revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Amer Sports, Inc. will post 0.46 EPS for the current fiscal year.
About Amer Sports
(
Free Report)
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.
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