Machina Capital S.A.S. Invests $376,000 in Amer Sports, Inc. (NYSE:AS)

Key Points

• Machina Capital S.A.S. has acquired a new stake in Amer Sports, acquiring 14,068 shares valued at approximately $376,000 in the first quarter.
• Several institutional investors, including Signaturefd LLC and Sterling Capital Management LLC, have increased their stakes in Amer Sports, indicating growing interest from hedge funds.
• Amer Sports reported a 24.5% year-over-year revenue increase to $1.47 billion and exceeded analysts' earnings expectations in its recent quarterly results.

Machina Capital S.A.S. purchased a new position in Amer Sports, Inc. (NYSE:AS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 14,068 shares of the company's stock, valued at approximately $376,000.

Other hedge funds have also bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of Amer Sports by 957.6% in the 4th quarter. Bank of America Corp DE now owns 384,705 shares of the company's stock worth $10,756,000 after buying an additional 348,329 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in Amer Sports in the 1st quarter valued at about $245,000. Pamalican Asset Management Ltd purchased a new stake in Amer Sports in the 4th quarter valued at about $20,970,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Amer Sports in the 4th quarter worth approximately $283,000. Finally, Handelsbanken Fonder AB lifted its position in shares of Amer Sports by 59.4% in the 1st quarter. Handelsbanken Fonder AB now owns 27,100 shares of the company's stock worth $724,000 after purchasing an additional 10,100 shares during the period. Hedge funds and other institutional investors own 40.25% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Amer Sports from $45.00 to $46.00 and gave the company an "overweight" rating in a report on Monday. Wall Street Zen raised shares of Amer Sports from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. The Goldman Sachs Group raised their price target on shares of Amer Sports from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company set a $35.00 target price on shares of Amer Sports and gave the company an "equal weight" rating in a research report on Wednesday, May 21st. Finally, UBS Group reissued a "buy" rating and issued a $50.00 price target (up from $37.00) on shares of Amer Sports in a research note on Wednesday, May 21st. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $38.74.

Amer Sports Stock Performance

AS stock traded down $0.64 during mid-day trading on Tuesday, reaching $37.96. The company had a trading volume of 942,320 shares, compared to its average volume of 3,972,672. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $21.02 billion, a P/E ratio of 102.56, a P/E/G ratio of 1.54 and a beta of 3.36. Amer Sports, Inc. has a one year low of $10.11 and a one year high of $40.21. The stock's 50-day simple moving average is $37.69 and its two-hundred day simple moving average is $31.25.

Amer Sports (NYSE:AS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.15 by $0.12. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.38 billion. Amer Sports had a net margin of 3.70% and a return on equity of 7.21%. Amer Sports's revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share. Research analysts anticipate that Amer Sports, Inc. will post 0.46 EPS for the current year.

Amer Sports Company 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.