Millennium Management LLC Acquires 559,317 Shares of Amer Sports, Inc. (NYSE:AS)

Millennium Management LLC increased its holdings in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 139.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 959,212 shares of the company's stock after purchasing an additional 559,317 shares during the period. Millennium Management LLC owned approximately 0.18% of Amer Sports worth $26,820,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Element Capital Management LLC bought a new position in shares of Amer Sports in the fourth quarter valued at approximately $357,000. GAM Holding AG purchased a new position in shares of Amer Sports in the fourth quarter valued at $13,460,000. Renaissance Capital LLC grew its position in shares of Amer Sports by 116.2% in the fourth quarter. Renaissance Capital LLC now owns 135,697 shares of the company's stock valued at $3,794,000 after purchasing an additional 72,936 shares in the last quarter. Pamalican Asset Management Ltd purchased a new position in shares of Amer Sports in the fourth quarter valued at $20,970,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Amer Sports in the fourth quarter valued at $283,000. Institutional investors and hedge funds own 40.25% of the company's stock.

Amer Sports Stock Performance

Shares of Amer Sports stock traded up $0.51 during trading on Thursday, hitting $37.51. 6,653,127 shares of the company's stock traded hands, compared to its average volume of 2,776,289. The stock has a market capitalization of $20.77 billion, a P/E ratio of -267.91, a PEG ratio of 0.72 and a beta of 2.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The business has a 50-day simple moving average of $26.26 and a 200-day simple moving average of $27.08. Amer Sports, Inc. has a 1 year low of $10.11 and a 1 year high of $38.42.

Amer Sports (NYSE:AS - Get Free Report) last announced its earnings results on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.38 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The business's revenue for the quarter was up 24.5% on a year-over-year basis. During the same period last year, the firm posted $0.08 earnings per share. As a group, analysts forecast that Amer Sports, Inc. will post 0.46 EPS for the current year.

Analyst Ratings Changes

AS has been the subject of several recent analyst reports. UBS Group boosted their target price on Amer Sports from $37.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday. The Goldman Sachs Group increased their target price on Amer Sports from $28.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday. Sanford C. Bernstein started coverage on Amer Sports in a report on Thursday, February 13th. They issued an "outperform" rating and a $38.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Amer Sports from $33.00 to $34.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley raised their price objective on Amer Sports from $28.00 to $33.00 and gave the company an "equal weight" rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Amer Sports has a consensus rating of "Moderate Buy" and an average price target of $36.67.

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.