Tairen Capital Ltd Invests $3.27 Million in Amer Sports, Inc. (NYSE:AS)

Tairen Capital Ltd acquired a new stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 117,000 shares of the company's stock, valued at approximately $3,271,000.

A number of other large investors have also added to or reduced their stakes in AS. JPMorgan Chase & Co. purchased a new position in Amer Sports during the third quarter valued at $25,000. West Branch Capital LLC raised its stake in shares of Amer Sports by 14,285.7% in the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company's stock worth $28,000 after purchasing an additional 1,000 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of Amer Sports by 55.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock worth $97,000 after purchasing an additional 1,250 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Amer Sports in the fourth quarter worth $104,000. Finally, Signaturefd LLC raised its stake in shares of Amer Sports by 35.0% in the fourth 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. Hedge funds and other institutional investors own 40.25% of the company's stock.

Amer Sports Stock Performance

NYSE:AS traded down $0.38 during mid-day trading on Friday, hitting $37.12. 2,969,817 shares of the company traded hands, compared to its average volume of 2,790,506. The stock's fifty day moving average price is $26.62 and its 200-day moving average price is $27.40. Amer Sports, Inc. has a one year low of $10.11 and a one year high of $38.42. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The firm has a market cap of $20.56 billion, a price-to-earnings ratio of -265.09, a price-to-earnings-growth ratio of 0.72 and a beta of 2.76.

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

Analyst Ratings Changes

AS has been the subject of several recent analyst reports. Sanford C. Bernstein initiated coverage on Amer Sports in a research note on Thursday, February 13th. They issued an "outperform" rating and a $38.00 price target for the company. TD Securities boosted their price target on Amer Sports from $30.00 to $41.00 and gave the stock a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on Amer Sports from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Morgan Stanley boosted their price target on Amer Sports from $28.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, UBS Group restated a "buy" rating and issued a $50.00 price target (up previously from $37.00) on shares of Amer Sports in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amer Sports presently has a consensus rating of "Moderate Buy" and an average price target of $36.67.

About Amer Sports

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.