Amer Sports, Inc. $AS Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Amer Sports, Inc. by 61.4% during the first quarter, totaling approximately 398,521 shares valued at $10.65 million.
• Amer Sports showed a significant 24.5% year-over-year revenue growth in its latest quarterly earnings report, with earnings per share at $0.27, surpassing estimates.
• Analysts have diverse outlooks on the stock, with Goldman Sachs raising its price target to $45.00 and a consensus average price target of $38.74 indicating a moderate buy rating.

Russell Investments Group Ltd. lifted its holdings in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 61.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 398,521 shares of the company's stock after buying an additional 151,620 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Amer Sports worth $10,652,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AS. Candlestick Capital Management LP lifted its position in Amer Sports by 1.7% in the fourth quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company's stock worth $108,052,000 after purchasing an additional 63,078 shares during the period. Junto Capital Management LP bought a new stake in Amer Sports in the fourth quarter worth about $66,793,000. Trivest Advisors Ltd lifted its holdings in Amer Sports by 47.9% in the 1st quarter. Trivest Advisors Ltd now owns 2,110,945 shares of the company's stock valued at $56,426,000 after acquiring an additional 683,445 shares during the last quarter. Oxbow Capital Management HK Ltd bought a new position in shares of Amer Sports during the 4th quarter valued at about $41,940,000. Finally, SG Americas Securities LLC grew its stake in shares of Amer Sports by 14,640.1% in the 1st quarter. SG Americas Securities LLC now owns 1,418,001 shares of the company's stock worth $37,903,000 after purchasing an additional 1,408,381 shares during the last quarter. 40.25% of the stock is owned by institutional investors.

Amer Sports Stock Down 3.1%

AS opened at $37.50 on Tuesday. The company has a market capitalization of $20.77 billion, a PE ratio of 101.35, a price-to-earnings-growth ratio of 1.58 and a beta of 3.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 0.80. Amer Sports, Inc. has a fifty-two week low of $11.58 and a fifty-two week high of $40.21. The business has a 50-day moving average of $37.90 and a 200-day moving average of $32.01.

Amer Sports (NYSE:AS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.12. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.38 billion. Amer Sports had a net margin of 3.70% and a return on equity of 7.21%. The company's revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 earnings per share. Equities research analysts forecast that Amer Sports, Inc. will post 0.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AS shares. The Goldman Sachs Group lifted their price target on shares of Amer Sports from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. KGI Securities set a $44.30 target price on Amer Sports and gave the stock an "outperform" rating in a report on Wednesday, June 25th. TD Securities increased their price target on Amer Sports from $30.00 to $41.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Morgan Stanley boosted their price objective on Amer Sports from $28.00 to $33.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 21st. Finally, Citigroup reiterated a "buy" rating and issued a $42.00 target price (up from $30.00) on shares of Amer Sports in a report on Wednesday, May 21st. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $38.74.

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.

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