WT Asset Management Ltd Increases Stake in Amer Sports, Inc. (NYSE:AS)

WT Asset Management Ltd raised its position in Amer Sports, Inc. (NYSE:AS - Free Report) by 188.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,606,363 shares of the company's stock after purchasing an additional 2,355,182 shares during the quarter. Amer Sports makes up approximately 11.1% of WT Asset Management Ltd's holdings, making the stock its 2nd biggest position. WT Asset Management Ltd owned about 0.66% of Amer Sports worth $100,834,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. FMR LLC raised its holdings in Amer Sports by 71.2% during the third 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 in the last quarter. WCM Investment Management LLC raised its stake in shares of Amer Sports by 29.9% in the 3rd quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company's stock valued at $21,787,000 after acquiring an additional 306,001 shares in the last quarter. State Street Corp lifted its holdings in Amer Sports by 65.1% in the 3rd quarter. State Street Corp now owns 884,526 shares of the company's stock worth $14,108,000 after purchasing an additional 348,877 shares during the last quarter. Woodson Capital Management LP acquired a new stake in Amer Sports in the 3rd quarter worth approximately $12,907,000. Finally, Polymer Capital Management HK LTD boosted its position in Amer Sports by 236.1% during the third quarter. Polymer Capital Management HK LTD now owns 438,966 shares of the company's stock worth $7,002,000 after purchasing an additional 308,376 shares during the period. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Amer Sports Stock Performance

Amer Sports stock traded up $0.41 on Thursday, hitting $32.25. The company's stock had a trading volume of 1,955,548 shares, compared to its average volume of 2,637,550. The company has a fifty day moving average price of $28.88 and a 200-day moving average price of $20.47. The firm has a market cap of $17.62 billion and a P/E ratio of -230.03. Amer Sports, Inc. has a one year low of $10.11 and a one year high of $34.00. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AS shares. UBS Group boosted their price objective on shares of Amer Sports from $27.00 to $37.00 and gave the stock a "buy" rating in a research note on Tuesday, December 17th. TD Cowen boosted their target price on shares of Amer Sports from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on Amer Sports from $20.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Friday, December 20th. Hsbc Global Res downgraded Amer Sports from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. raised their target price on Amer Sports from $19.00 to $26.00 and gave the company an "overweight" rating in a report on Wednesday, November 20th. Five research 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 stock. Based on data from MarketBeat, Amer Sports has an average rating of "Moderate Buy" and a consensus price target of $27.07.

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.