Ghisallo Capital Management LLC Buys 575,000 Shares of Amer Sports, Inc. (NYSE:AS)

Ghisallo Capital Management LLC increased its holdings in Amer Sports, Inc. (NYSE:AS - Free Report) by 143.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 975,000 shares of the company's stock after acquiring an additional 575,000 shares during the period. Amer Sports comprises approximately 1.6% of Ghisallo Capital Management LLC's portfolio, making the stock its 13th biggest holding. Ghisallo Capital Management LLC owned about 0.18% of Amer Sports worth $27,261,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AS. FMR LLC grew its holdings in Amer Sports by 250.7% during the fourth quarter. FMR LLC now owns 26,414,511 shares of the company's stock valued at $738,550,000 after purchasing an additional 18,881,504 shares during the period. Marshall Wace LLP grew its holdings in Amer Sports by 262.5% during the fourth quarter. Marshall Wace LLP now owns 3,316,167 shares of the company's stock valued at $92,720,000 after purchasing an additional 2,401,302 shares during the period. WT Asset Management Ltd grew its holdings in Amer Sports by 188.2% during the fourth quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company's stock valued at $100,834,000 after purchasing an additional 2,355,182 shares during the period. Oxbow Capital Management HK Ltd bought a new position in Amer Sports during the fourth quarter valued at $41,940,000. Finally, Trivest Advisors Ltd bought a new position in Amer Sports during the fourth quarter valued at $39,913,000. 40.25% of the stock is owned by institutional investors.

Amer Sports Price Performance

NYSE AS traded up $0.20 during trading hours on Thursday, reaching $24.45. 608,779 shares of the stock traded hands, compared to its average volume of 3,622,964. The stock has a 50 day simple moving average of $25.89 and a two-hundred day simple moving average of $25.92. Amer Sports, Inc. has a 1 year low of $10.11 and a 1 year high of $34.00. 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 company has a market cap of $13.54 billion, a price-to-earnings ratio of -174.66, a price-to-earnings-growth ratio of 0.72 and a beta of 2.66.

Amer Sports (NYSE:AS - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, meeting 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 business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.60 billion. The business's revenue was up 23.2% compared to the same quarter last year. On average, analysts predict that Amer Sports, Inc. will post 0.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AS shares. The Goldman Sachs Group cut their price target on Amer Sports from $33.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. raised their price target on Amer Sports from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. TD Cowen raised their price target on Amer Sports from $29.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Citigroup cut their price target on Amer Sports from $36.00 to $30.00 and set a "buy" rating for the company in a report on Monday. Finally, Sanford C. Bernstein assumed coverage on Amer Sports in a report on Thursday, February 13th. They issued an "outperform" rating and a $38.00 price target for the company. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amer Sports presently has an average rating of "Moderate Buy" and an average price target of $31.45.

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.