Voloridge Investment Management LLC Invests $18.64 Million in Amer Sports, Inc. (NYSE:AS)

Voloridge Investment Management LLC acquired a new stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 666,690 shares of the company's stock, valued at approximately $18,641,000. Voloridge Investment Management LLC owned 0.12% of Amer Sports at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of Amer Sports by 250.7% in the fourth quarter. FMR LLC now owns 26,414,511 shares of the company's stock worth $738,550,000 after buying an additional 18,881,504 shares during the period. Marshall Wace LLP grew its stake in Amer Sports by 262.5% in the fourth quarter. Marshall Wace LLP now owns 3,316,167 shares of the company's stock worth $92,720,000 after purchasing an additional 2,401,302 shares in the last quarter. Junto Capital Management LP bought a new position in Amer Sports in the fourth quarter worth approximately $66,793,000. WT Asset Management Ltd grew its stake in Amer Sports by 188.2% in the fourth quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company's stock worth $100,834,000 after purchasing an additional 2,355,182 shares in the last quarter. Finally, Oxbow Capital Management HK Ltd bought a new position in Amer Sports in the fourth quarter worth approximately $41,940,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AS has been the topic of several recent research reports. Sanford C. Bernstein initiated coverage on Amer Sports in a research report on Thursday, February 13th. They set an "outperform" rating and a $38.00 target price on the stock. Wells Fargo & Company set a $35.00 price objective on Amer Sports and gave the stock an "equal weight" rating in a research report on Wednesday, May 21st. Morgan Stanley raised their price objective on Amer Sports from $28.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 21st. UBS Group reiterated a "buy" rating and issued a $50.00 price objective (up from $37.00) on shares of Amer Sports in a report on Wednesday, May 21st. Finally, TD Securities lifted 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, May 21st. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.67.

Amer Sports Stock Down 1.5%

NYSE:AS traded down $0.58 during trading hours on Wednesday, hitting $37.92. The company's stock had a trading volume of 979,150 shares, compared to its average volume of 2,785,416. The stock has a fifty day moving average of $26.96 and a 200-day moving average of $27.66. The stock has a market capitalization of $21.00 billion, a P/E ratio of -270.62, a price-to-earnings-growth ratio of 0.72 and a beta of 2.76. Amer Sports, Inc. has a 52-week low of $10.11 and a 52-week high of $38.83. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58.

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 (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.38 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The business's quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 earnings per share. On average, equities analysts forecast that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

Amer Sports 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.