Russell Investments Group Ltd. Acquires 190,951 Shares of Amer Sports, Inc. (NYSE:AS)

Russell Investments Group Ltd. lifted its holdings in shares of Amer Sports, Inc. (NYSE:AS) by 341.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 246,901 shares of the company’s stock after purchasing an additional 190,951 shares during the quarter. Russell Investments Group Ltd.’s holdings in Amer Sports were worth $6,903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AS. Verition Fund Management LLC bought a new stake in Amer Sports during the third quarter valued at approximately $301,000. Quantinno Capital Management LP bought a new stake in shares of Amer Sports during the 3rd quarter worth $180,000. State Street Corp grew its position in Amer Sports by 65.1% in the third quarter. State Street Corp now owns 884,526 shares of the company’s stock worth $14,108,000 after acquiring an additional 348,877 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Amer Sports in the third quarter valued at $467,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Amer Sports during the third quarter valued at about $337,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Amer Sports Stock Up 0.6 %

NYSE AS opened at $22.17 on Monday. The business’s 50-day moving average is $27.84 and its 200 day moving average is $25.53. The stock has a market capitalization of $12.28 billion, a PE ratio of -158.31, a PEG ratio of 0.72 and a beta of 2.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. Amer Sports, Inc. has a 1 year low of $10.11 and a 1 year high of $34.00.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Amer Sports’s revenue for the quarter was up 23.2% compared to the same quarter last year. Sell-side analysts forecast that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AS shares. HSBC cut Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Monday, December 16th. Citigroup increased their price target on shares of Amer Sports from $24.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Hsbc Global Res lowered shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. TD Cowen increased their target price on shares of Amer Sports from $29.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Morgan Stanley boosted their price target on shares of Amer Sports from $19.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.64.

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.