OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 54.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,438 shares of the company's stock after purchasing an additional 85,158 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Amer Sports were worth $6,422,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. FMR LLC grew its position in Amer Sports by 250.7% in the fourth quarter. FMR LLC now owns 26,414,511 shares of the company's stock valued at $738,550,000 after purchasing an additional 18,881,504 shares in the last quarter. Candlestick Capital Management LP grew its position in shares of Amer Sports by 1.7% in the 4th quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company's stock valued at $108,052,000 after acquiring an additional 63,078 shares during the period. Marshall Wace LLP grew its position in shares of Amer Sports by 262.5% in the 4th quarter. Marshall Wace LLP now owns 3,316,167 shares of the company's stock valued at $92,720,000 after acquiring an additional 2,401,302 shares during the period. Junto Capital Management LP bought a new position in shares of Amer Sports in the 4th quarter valued at about $66,793,000. Finally, Trivest Advisors Ltd grew its position in shares of 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 period. Institutional investors own 40.25% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on AS shares. Wall Street Zen raised shares of Amer Sports from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. JPMorgan Chase & Co. lifted their price objective on shares of Amer Sports from $45.00 to $46.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Piper Sandler started coverage on shares of Amer Sports in a research report on Thursday, June 26th. They issued an "overweight" rating and a $45.00 price objective for the company. Citigroup reissued a "buy" rating and issued a $42.00 price objective (up previously from $30.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company set a $35.00 target price on shares of Amer Sports and gave the stock an "equal weight" rating 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Amer Sports has a consensus rating of "Moderate Buy" and a consensus price target of $38.74.
Read Our Latest Research Report on Amer Sports
Amer Sports Price Performance
Shares of Amer Sports stock opened at $36.49 on Friday. Amer Sports, Inc. has a twelve month low of $10.11 and a twelve month high of $40.21. 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 company has a 50-day simple moving average of $37.74 and a two-hundred day simple moving average of $31.46. The stock has a market capitalization of $20.21 billion, a price-to-earnings ratio of 98.62, a price-to-earnings-growth ratio of 1.53 and a beta of 3.31.
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, topping the consensus estimate of $0.15 by $0.12. Amer Sports had a net margin of 3.70% and a return on equity of 7.21%. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the company earned $0.08 EPS. The business's revenue was up 24.5% on a year-over-year basis. Analysts forecast that Amer Sports, Inc. will post 0.46 EPS for the current year.
About Amer Sports
(
Free Report)
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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