Weiss Asset Management LP Acquires New Holdings in Amer Sports, Inc. (NYSE:AS)

Weiss Asset Management LP acquired a new stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 110,422 shares of the company's stock, valued at approximately $1,761,000.

A number of other large investors have also made changes to their positions in AS. FMR LLC increased its holdings in 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 buying an additional 3,133,312 shares during the period. Hood River Capital Management LLC boosted its position in shares of Amer Sports by 32.9% during 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 in the last quarter. Point72 Hong Kong Ltd increased its stake in Amer Sports by 557.7% in the second 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 period. Point72 Asset Management L.P. increased its stake in Amer Sports by 308.3% in the second 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 period. Finally, WCM Investment Management LLC raised its position in Amer Sports by 29.9% in the third quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company's stock worth $21,787,000 after purchasing an additional 306,001 shares in the last quarter. Institutional investors and hedge funds own 40.25% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. TD Cowen lifted their price objective on Amer Sports from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. UBS Group lifted their price target on shares of Amer Sports from $24.00 to $27.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. The Goldman Sachs Group upped their price objective on shares of Amer Sports from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Wells Fargo & Company lifted their target price on shares of Amer Sports from $19.00 to $20.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 20th. Finally, Evercore ISI restated an "outperform" rating and set a $26.00 price target (up from $25.00) on shares of Amer Sports 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $21.43.

Amer Sports Trading Up 0.4 %

Shares of NYSE:AS traded up $0.11 during trading on Friday, hitting $25.01. 4,857,742 shares of the company's stock were exchanged, compared to its average volume of 2,820,089. The firm has a 50-day moving average price of $20.20 and a two-hundred day moving average price of $15.72. Amer Sports, Inc. has a 1-year low of $10.11 and a 1-year high of $26.85. The firm has a market cap of $12.64 billion and a P/E ratio of -178.64. 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 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.