Soros Fund Management LLC Invests $15.38 Million in Amer Sports, Inc. (NYSE:AS)

Soros Fund Management LLC acquired a new stake in Amer Sports, Inc. (NYSE:AS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 550,000 shares of the company's stock, valued at approximately $15,378,000. Soros Fund Management LLC owned 0.10% of Amer Sports as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AS. FMR LLC lifted its holdings in shares of 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 last quarter. Marshall Wace LLP increased its stake in shares of Amer Sports by 262.5% during the 4th 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 during the last quarter. WT Asset Management Ltd increased its position 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 worth $100,834,000 after buying an additional 2,355,182 shares during the last quarter. Oxbow Capital Management HK Ltd bought a new position in shares of Amer Sports in the 4th quarter valued at approximately $41,940,000. Finally, Trivest Advisors Ltd acquired a new stake in shares of Amer Sports in the fourth quarter worth $39,913,000. 40.25% of the stock is owned by institutional investors and hedge funds.

Amer Sports Trading Up 6.0 %

Shares of AS traded up $1.45 during trading hours on Friday, reaching $25.70. The stock had a trading volume of 3,489,372 shares, compared to its average volume of 2,529,989. Amer Sports, Inc. has a 52 week low of $10.11 and a 52 week high of $34.00. The firm has a 50-day moving average of $25.80 and a 200 day moving average of $25.95. The company has a market cap of $14.23 billion, a P/E ratio of -183.56, a P/E/G ratio of 0.72 and a beta of 2.76. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The company's quarterly revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts expect that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. TD Cowen increased their target price on Amer Sports from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Sanford C. Bernstein began coverage on Amer Sports in a research note on Thursday, February 13th. They set an "outperform" rating and a $38.00 price objective for the company. Morgan Stanley boosted their target price on Amer Sports from $19.00 to $27.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. UBS Group increased their price objective on shares of Amer Sports from $37.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their target price on Amer Sports from $33.00 to $34.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Four equities research 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.