Amer Sports, Inc. (NYSE:AS) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its holdings in Amer Sports, Inc. (NYSE:AS - Free Report) by 41.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,715 shares of the company's stock after selling 16,618 shares during the quarter. Alliancebernstein L.P.'s holdings in Amer Sports were worth $663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Amer Sports by 61.8% during the fourth quarter. GAMMA Investing LLC now owns 1,942 shares of the company's stock valued at $54,000 after buying an additional 742 shares during the last quarter. West Branch Capital LLC boosted its holdings in shares of Amer Sports by 14,285.7% in the 4th quarter. West Branch Capital LLC now owns 1,007 shares of the company's stock worth $28,000 after acquiring an additional 1,000 shares in the last quarter. Signaturefd LLC raised its position in Amer Sports by 35.0% in the 4th quarter. Signaturefd LLC now owns 4,136 shares of the company's stock worth $116,000 after purchasing an additional 1,073 shares during the last quarter. Kieckhefer Group LLC bought a new position in Amer Sports in the 4th quarter worth approximately $42,000. Finally, JPMorgan Chase & Co. bought a new position in Amer Sports in the 3rd quarter worth approximately $25,000. 40.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AS has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of Amer Sports from $19.00 to $27.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. UBS Group upped their price objective on shares of Amer Sports from $37.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered their price objective on shares of Amer Sports from $33.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday. Wells Fargo & Company upped their price objective on shares of Amer Sports from $25.00 to $28.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Finally, Sanford C. Bernstein began coverage on Amer Sports in a research note on Thursday, February 13th. They issued an "outperform" rating and a $38.00 price target on the stock. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $32.36.

Amer Sports Stock Up 3.0 %

AS traded up $0.70 during mid-day trading on Thursday, reaching $23.91. 552,490 shares of the stock were exchanged, compared to its average volume of 2,509,166. The stock has a market capitalization of $13.24 billion, a PE ratio of -170.82, a price-to-earnings-growth ratio of 0.72 and a beta of 2.66. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. The company has a 50 day moving average price of $26.48 and a two-hundred day moving average price of $25.73. Amer Sports, Inc. has a 1 year low of $10.11 and a 1 year high of $34.00.

Amer Sports (NYSE:AS - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, meeting analysts' consensus estimates of $0.17. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.60 billion. The company's quarterly revenue was up 23.2% compared to the same quarter last year. As a group, research analysts anticipate that Amer Sports, Inc. will post 0.46 EPS for the current year.

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.