Vident Advisory LLC Buys New Holdings in Amer Sports, Inc. (NYSE:AS)

Vident Advisory LLC acquired a new stake in Amer Sports, Inc. (NYSE:AS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 707,837 shares of the company's stock, valued at approximately $19,791,000. Vident Advisory LLC owned 0.13% of Amer Sports at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new position in shares of Amer Sports in the 3rd quarter valued at $25,000. Artemis Investment Management LLP raised its holdings in Amer Sports by 35.1% in the 4th quarter. Artemis Investment Management LLP now owns 24,817 shares of the company's stock valued at $694,000 after buying an additional 6,444 shares during the period. Capricorn Fund Managers Ltd acquired a new position in Amer Sports in the fourth quarter valued at about $3,834,000. Dakota Wealth Management acquired a new position in Amer Sports in the fourth quarter valued at about $1,083,000. Finally, West Branch Capital LLC boosted its stake in Amer Sports by 14,285.7% during the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company's stock worth $28,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 40.25% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AS. UBS Group reiterated a "buy" rating and set a $50.00 price target (up from $37.00) on shares of Amer Sports in a research report on Wednesday. TD Securities increased their price objective on shares of Amer Sports from $30.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday. Morgan Stanley boosted their target price on Amer Sports from $28.00 to $33.00 and gave the company an "equal weight" rating in a research report on Wednesday. Citigroup restated a "buy" rating and set a $42.00 price target (up from $30.00) on shares of Amer Sports in a research note on Wednesday. Finally, Wall Street Zen upgraded Amer Sports from a "hold" rating to a "buy" rating in a research report on Saturday. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.67.

Amer Sports Stock Down 1.0%

Shares of NYSE:AS traded down $0.38 during trading on Friday, hitting $37.12. The company's stock had a trading volume of 2,969,817 shares, compared to its average volume of 2,783,579. The business has a 50 day moving average price of $26.62 and a two-hundred day moving average price of $27.34. The company has a market capitalization of $20.56 billion, a PE ratio of -265.09, a P/E/G ratio of 0.72 and a beta of 2.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. Amer Sports, Inc. has a fifty-two week low of $10.11 and a fifty-two week high of $38.42.

Amer Sports (NYSE:AS - Get Free Report) last posted 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 business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.38 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The company's quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 earnings per share. As a group, research analysts expect that Amer Sports, Inc. will post 0.46 EPS for the current fiscal 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.