Amer Sports, Inc. $AS Stake Boosted by WT Asset Management Ltd

WT Asset Management Ltd grew its stake in shares of Amer Sports, Inc. (NYSE:AS) by 221.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,499,062 shares of the company’s stock after purchasing an additional 2,410,861 shares during the quarter. Amer Sports makes up approximately 5.6% of WT Asset Management Ltd’s portfolio, making the stock its 8th biggest position. WT Asset Management Ltd owned 0.63% of Amer Sports worth $121,592,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Persistent Asset Partners Ltd purchased a new stake in Amer Sports during the 3rd quarter valued at $99,000. JPMorgan Chase & Co. grew its stake in shares of Amer Sports by 9.3% in the third quarter. JPMorgan Chase & Co. now owns 684,783 shares of the company’s stock worth $23,796,000 after purchasing an additional 58,350 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Amer Sports by 241.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,199 shares of the company’s stock valued at $42,000 after purchasing an additional 848 shares during the period. Capital CS Group LLC bought a new position in Amer Sports during the 3rd quarter valued at approximately $578,000. Finally, Illinois Municipal Retirement Fund lifted its holdings in Amer Sports by 23.7% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 71,870 shares of the company’s stock worth $2,497,000 after buying an additional 13,766 shares during the period. 40.25% of the stock is owned by hedge funds and other institutional investors.

Amer Sports Stock Up 1.5%

Shares of Amer Sports stock traded up $0.61 during midday trading on Friday, hitting $42.12. The company had a trading volume of 223,949 shares, compared to its average volume of 3,933,012. Amer Sports, Inc. has a 52-week low of $20.21 and a 52-week high of $42.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.70 and a current ratio of 1.51. The stock has a market capitalization of $23.33 billion, a P/E ratio of 76.42, a P/E/G ratio of 0.81 and a beta of 2.86. The company has a 50 day moving average of $38.05 and a 200 day moving average of $36.20.

Amer Sports (NYSE:AS) last released its earnings results on Tuesday, November 18th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.25 by $0.08. Amer Sports had a return on equity of 8.51% and a net margin of 5.10%.The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was up 29.7% compared to the same quarter last year. On average, equities analysts predict that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AS has been the topic of several research analyst reports. Nomura set a $39.80 target price on Amer Sports and gave the company a “buy” rating in a research note on Tuesday, November 18th. Zacks Research downgraded shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amer Sports in a research report on Monday, December 29th. Evercore reaffirmed an “outperform” rating and set a $50.00 target price on shares of Amer Sports in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft set a $49.00 price target on shares of Amer Sports in a research note on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $46.89.

Amer Sports Profile

Amer Sports (NYSE:AS) is a Helsinki-based sporting goods group that designs, develops and markets performance-oriented equipment, apparel and footwear across multiple sports. The company focuses on product innovation, brand-driven marketing and global distribution to serve athletes and outdoor enthusiasts, offering goods for activities such as skiing, running, hiking, tennis, golf and diving.

Amer Sports’ portfolio comprises well-known sports and outdoor brands, including Salomon (outdoor footwear and winter sports), Atomic (alpine skis and ski equipment), Arc’teryx (technical outerwear and climbing gear), Wilson (racquet and ball sports equipment) and Suunto (precision instruments and sports watches).