Amer Sports, Inc. (NYSE:AS) is Point72 Hong Kong Ltd's 5th Largest Position

Point72 Hong Kong Ltd decreased its stake in Amer Sports, Inc. (NYSE:AS - Free Report) by 36.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,072,882 shares of the company's stock after selling 1,201,637 shares during the quarter. Amer Sports comprises 2.3% of Point72 Hong Kong Ltd's portfolio, making the stock its 5th biggest holding. Point72 Hong Kong Ltd owned about 0.41% of Amer Sports worth $33,062,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of AS. Signaturefd LLC purchased a new position in shares of Amer Sports in the third quarter valued at $49,000. CWM LLC bought a new position in Amer Sports during the 3rd quarter worth about $73,000. Dnca Finance acquired a new stake in Amer Sports during the second quarter worth approximately $81,000. Amalgamated Bank acquired a new position in Amer Sports in the 2nd quarter worth about $83,000. Finally, Sei Investments Co. boosted its holdings in Amer Sports by 23.1% in the second quarter. Sei Investments Co. now owns 73,141 shares of the company's stock worth $919,000 after acquiring an additional 13,748 shares in the last quarter. 40.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Robert W. Baird increased their price objective on shares of Amer Sports from $20.00 to $24.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. The Goldman Sachs Group increased their price target on Amer Sports from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Evercore ISI reiterated an "outperform" rating and issued a $26.00 target price (up previously from $25.00) on shares of Amer Sports in a report on Wednesday, November 20th. UBS Group lifted their price target on Amer Sports from $24.00 to $27.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Finally, 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 research report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Amer Sports has an average rating of "Moderate Buy" and an average price target of $21.43.

Amer Sports Price Performance

Shares of Amer Sports stock traded up $0.46 during trading on Friday, hitting $26.33. The company's stock had a trading volume of 1,542,160 shares, compared to its average volume of 2,576,251. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. Amer Sports, Inc. has a 52 week low of $10.11 and a 52 week high of $26.85. The stock has a 50-day moving average price of $19.20 and a two-hundred day moving average price of $15.38.

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.