Verition Fund Management LLC Acquires New Shares in Amer Sports, Inc. (NYSE:AS)

Verition Fund Management LLC purchased a new position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 18,894 shares of the company's stock, valued at approximately $301,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of Amer Sports by 71.2% in the 3rd quarter. FMR LLC now owns 7,533,007 shares of the company's stock valued at $120,151,000 after acquiring an additional 3,133,312 shares during the last quarter. Point72 Hong Kong Ltd increased its holdings in shares of Amer Sports by 557.7% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company's stock valued at $41,161,000 after acquiring an additional 2,776,619 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Amer Sports by 308.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company's stock valued at $39,045,000 after acquiring an additional 2,345,420 shares during the last quarter. Hood River Capital Management LLC increased its holdings in shares of Amer Sports by 32.9% in the 2nd quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company's stock valued at $48,983,000 after acquiring an additional 965,625 shares during the last quarter. Finally, Woodson Capital Management LP bought a new stake in shares of Amer Sports in the 3rd quarter valued at approximately $12,907,000. 40.25% of the stock is owned by institutional investors and hedge funds.

Amer Sports Trading Up 2.9 %

Shares of Amer Sports stock traded up $0.77 during trading on Friday, reaching $27.65. 2,827,409 shares of the company were exchanged, compared to its average volume of 1,913,013. The company has a quick ratio of 0.77, a current ratio of 1.62 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 $27.79. The business has a 50-day moving average price of $21.18 and a 200-day moving average price of $16.11. The firm has a market capitalization of $15.11 billion and a price-to-earnings ratio of -197.49.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AS. Citigroup boosted their price target on Amer Sports from $19.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Nomura Securities upgraded Amer Sports to a "strong-buy" rating in a research note on Tuesday, September 24th. Robert W. Baird upped their price objective on Amer Sports from $24.00 to $30.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Evercore ISI upped their price objective on Amer Sports from $26.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Morgan Stanley upped their price objective 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. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.07.

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.