Thornburg Investment Management Inc. Boosts Holdings in Amer Sports, Inc. (NYSE:AS)

Key Points

• Thornburg Investment Management Inc. increased its stake in Amer Sports, Inc. by 12.7% by purchasing an additional 32,510 shares, bringing its total holdings to 289,373 shares valued at approximately $7.73 million.
• Amer Sports reported earnings per share (EPS) of $0.27 for the quarter, surpassing analyst expectations of $0.15 and achieving a 24.5% increase in revenue year-over-year.
• Analyst ratings for Amer Sports are generally positive, with a consensus rating of "Moderate Buy" and an average price target of $38.74, reflecting optimism about the company's growth prospects.

Thornburg Investment Management Inc. increased its holdings in Amer Sports, Inc. (NYSE:AS - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 289,373 shares of the company's stock after purchasing an additional 32,510 shares during the quarter. Thornburg Investment Management Inc. owned approximately 0.05% of Amer Sports worth $7,735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sterling Capital Management LLC grew its position in shares of Amer Sports by 55.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock valued at $97,000 after buying an additional 1,250 shares during the last quarter. Signaturefd LLC raised its position in shares of Amer Sports by 19.1% during the first quarter. Signaturefd LLC now owns 4,925 shares of the company's stock worth $132,000 after acquiring an additional 789 shares during the last quarter. Keel Point LLC acquired a new position in shares of Amer Sports in the fourth quarter worth approximately $234,000. Vontobel Holding Ltd. bought a new position in Amer Sports during the 1st quarter worth approximately $245,000. Finally, Sandia Investment Management LP acquired a new position in shares of Amer Sports in the 4th quarter worth approximately $280,000. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Amer Sports Stock Performance

Shares of NYSE:AS traded down $1.29 during trading on Thursday, hitting $37.56. 3,274,322 shares of the company were exchanged, compared to its average volume of 2,582,068. The stock has a 50 day moving average of $37.76 and a 200 day moving average of $31.35. The company has a market cap of $20.80 billion, a PE ratio of 101.51, a P/E/G ratio of 1.58 and a beta of 3.36. Amer Sports, Inc. has a 52-week low of $10.11 and a 52-week high of $40.21. 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 (NYSE:AS - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.38 billion. Amer Sports had a return on equity of 7.21% and a net margin of 3.70%. The firm's quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. As a group, equities research analysts predict that Amer Sports, Inc. will post 0.46 EPS for the current year.

Analysts Set New Price Targets

AS has been the topic of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of Amer Sports from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. KGI Securities set a $44.30 price objective on Amer Sports and gave the company an "outperform" rating in a research note on Wednesday, June 25th. UBS Group reaffirmed a "buy" rating and set a $50.00 target price (up previously from $37.00) on shares of Amer Sports in a research note on Wednesday, May 21st. Citigroup reissued a "buy" rating and issued a $42.00 price target (up from $30.00) on shares of Amer Sports in a research note on Wednesday, May 21st. Finally, Piper Sandler began coverage on shares of Amer Sports in a research report on Thursday, June 26th. They set an "overweight" rating and a $45.00 target price on the stock. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.74.

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.