Voloridge Investment Management LLC Makes New Investment in Amer Sports, Inc. (NYSE:AS)

Voloridge Investment Management LLC bought a new stake in Amer Sports, Inc. (NYSE:AS - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 666,690 shares of the company's stock, valued at approximately $18,641,000. Voloridge Investment Management LLC owned approximately 0.12% of Amer Sports at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Signaturefd LLC boosted its stake in shares of Amer Sports by 35.0% in the 4th quarter. Signaturefd LLC now owns 4,136 shares of the company's stock valued at $116,000 after buying an additional 1,073 shares during the period. Sterling Capital Management LLC raised its holdings 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 purchasing an additional 1,250 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Amer Sports during the 3rd quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Amer Sports during the 4th quarter worth about $104,000. Finally, Quantinno Capital Management LP boosted its position in shares of Amer Sports by 37.5% during the 4th quarter. Quantinno Capital Management LP now owns 15,551 shares of the company's stock worth $435,000 after acquiring an additional 4,240 shares in the last quarter. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AS shares. Wall Street Zen upgraded shares of Amer Sports from a "hold" rating to a "buy" rating in a research report on Saturday. JPMorgan Chase & Co. boosted their target price on Amer Sports from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. The Goldman Sachs Group raised their price target on Amer Sports from $28.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Sanford C. Bernstein started coverage on Amer Sports in a research note on Thursday, February 13th. They issued an "outperform" rating and a $38.00 price objective for the company. Finally, Citigroup restated a "buy" rating and set a $42.00 target price (up from $30.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $36.67.

Amer Sports Price Performance

Shares of NYSE:AS traded up $1.25 during trading on Tuesday, hitting $38.29. 2,220,966 shares of the stock were exchanged, compared to its average volume of 2,788,794. The company has a fifty day moving average price of $26.78 and a two-hundred day moving average price of $27.58. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The company has a market cap of $21.21 billion, a PE ratio of -273.50, a P/E/G ratio of 0.72 and a beta of 2.76. Amer Sports, Inc. has a 12-month low of $10.11 and a 12-month high of $38.50.

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, topping 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 the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company posted $0.08 EPS. The business's revenue was up 24.5% on a year-over-year basis. On average, analysts forecast that Amer Sports, Inc. will post 0.46 EPS for the current year.

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.