Fred Alger Management LLC Purchases Shares of 81,250 Amer Sports, Inc. (NYSE:AS)

Fred Alger 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 Securities and Exchange Commission (SEC). The institutional investor bought 81,250 shares of the company's stock, valued at approximately $2,272,000.

Other institutional investors also recently modified their holdings of the company. FMR LLC increased its holdings in Amer Sports by 250.7% in the 4th quarter. FMR LLC now owns 26,414,511 shares of the company's stock worth $738,550,000 after acquiring an additional 18,881,504 shares during the last quarter. Brilliance Asset Management Ltd. grew its stake in Amer Sports by 5.1% in the 4th quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company's stock valued at $113,883,000 after buying an additional 196,380 shares in the last quarter. Candlestick Capital Management LP lifted its position in shares of Amer Sports by 1.7% during the fourth quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company's stock worth $108,052,000 after acquiring an additional 63,078 shares in the last quarter. WT Asset Management Ltd lifted its position in shares of Amer Sports by 188.2% during the fourth quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company's stock worth $100,834,000 after acquiring an additional 2,355,182 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of 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 acquiring an additional 2,401,302 shares during the period. 40.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AS has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their price objective on Amer Sports from $33.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley raised their price objective on shares of Amer Sports from $19.00 to $27.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their target price on shares of Amer Sports from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Sanford C. Bernstein began coverage on shares of Amer Sports in a research note on Thursday, February 13th. They issued an "outperform" rating and a $38.00 target price on the stock. Finally, UBS Group boosted their price target on shares of Amer Sports from $37.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amer Sports currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.45.

Amer Sports Price Performance

AS stock traded up $1.07 during mid-day trading on Tuesday, hitting $31.11. 5,048,461 shares of the stock were exchanged, compared to its average volume of 2,615,929. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The stock has a market capitalization of $17.23 billion, a price-to-earnings ratio of -222.20, a PEG ratio of 0.72 and a beta of 2.76. The business has a fifty day moving average price of $25.45 and a 200 day moving average price of $26.48. Amer Sports, Inc. has a 12 month low of $10.11 and a 12 month high of $34.00.

Amer Sports (NYSE:AS - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, hitting analysts' consensus estimates of $0.17. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.60 billion. The company's revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts anticipate 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.