Sandia Investment Management LP Purchases New Shares in Amer Sports, Inc. (NYSE:AS)

Sandia Investment Management LP acquired a new stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 10,000 shares of the company's stock, valued at approximately $280,000.

Other hedge funds have also added to or reduced their stakes in the company. Element Capital Management LLC purchased a new position in Amer Sports during the 4th quarter valued at $357,000. GAM Holding AG bought a new stake in shares of Amer Sports during the 4th quarter valued at $13,460,000. Renaissance Capital LLC boosted its holdings in shares of Amer Sports by 116.2% during the 4th quarter. Renaissance Capital LLC now owns 135,697 shares of the company's stock valued at $3,794,000 after buying an additional 72,936 shares in the last quarter. Pamalican Asset Management Ltd bought a new stake in shares of Amer Sports during the 4th quarter valued at $20,970,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Amer Sports during the 4th quarter valued at $283,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AS. Sanford C. Bernstein started coverage on shares of Amer Sports in a report on Thursday, February 13th. They set an "outperform" rating and a $38.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Amer Sports from $24.00 to $25.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Morgan Stanley upped their price target 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. The Goldman Sachs Group decreased their target price on shares of Amer Sports from $33.00 to $28.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Citigroup decreased their target price on shares of Amer Sports from $36.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $31.55.

Amer Sports Price Performance

Shares of NYSE AS traded up $5.84 during midday trading on Tuesday, reaching $37.23. 19,811,069 shares of the stock traded hands, compared to its average volume of 2,738,904. 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 $20.62 billion, a PE ratio of -265.91, a P/E/G ratio of 0.72 and a beta of 2.76. Amer Sports, Inc. has a one year low of $10.11 and a one year high of $37.79. The company's 50 day moving average is $25.87 and its 200 day moving average is $26.94.

Amer Sports (NYSE:AS - Get Free Report) last posted its earnings results on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates 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 firm's quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 earnings per share. On average, equities research analysts anticipate that Amer Sports, Inc. will post 0.46 earnings per share for the current 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.