Point72 Asset Management L.P. Has $40.45 Million Position in Amer Sports, Inc. (NYSE:AS)

Point72 Asset Management L.P. lessened its position in Amer Sports, Inc. (NYSE:AS - Free Report) by 18.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,535,990 shares of the company's stock after selling 570,212 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.50% of Amer Sports worth $40,449,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC acquired a new stake in Amer Sports in the 3rd quarter valued at approximately $49,000. CWM LLC acquired a new stake in Amer Sports in the 3rd quarter valued at approximately $73,000. Dnca Finance acquired a new stake in Amer Sports in the 2nd quarter valued at approximately $81,000. Amalgamated Bank acquired a new position in shares of Amer Sports during the 2nd quarter worth approximately $83,000. Finally, Sei Investments Co. increased its position in shares of Amer Sports by 23.1% during the 2nd quarter. Sei Investments Co. now owns 73,141 shares of the company's stock worth $919,000 after purchasing an additional 13,748 shares during the last quarter. Institutional investors and hedge funds own 40.25% of the company's stock.

Amer Sports Price Performance

NYSE AS traded down $0.69 during midday trading on Thursday, hitting $24.90. The company had a trading volume of 17,215,671 shares, compared to its average volume of 1,857,660. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. Amer Sports, Inc. has a twelve month low of $10.11 and a twelve month high of $26.85. The company has a market capitalization of $12.58 billion and a PE ratio of -177.84. The firm has a 50-day moving average price of $20.03 and a 200-day moving average price of $15.65.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Evercore ISI reaffirmed an "outperform" rating and set a $26.00 price target (up previously from $25.00) on shares of Amer Sports in a research report on Wednesday, November 20th. Wells Fargo & Company boosted their price target on Amer Sports from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 20th. Nomura Securities raised Amer Sports to a "strong-buy" rating in a research report on Tuesday, September 24th. Morgan Stanley lifted their target price on Amer Sports from $15.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lifted their target price on Amer Sports from $19.00 to $26.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $21.43.

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.