OVERSEA CHINESE BANKING Corp Ltd Buys Shares of 155,280 Amer Sports, Inc. (NYSE:AS)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Amer Sports, Inc. (NYSE:AS) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 155,280 shares of the company’s stock, valued at approximately $4,342,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its holdings in Amer Sports by 734.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock valued at $1,288,000 after purchasing an additional 71,086 shares in the last quarter. Woodson Capital Management LP purchased a new position in shares of Amer Sports during the 3rd quarter worth about $12,907,000. XTX Topco Ltd purchased a new position in shares of Amer Sports during the 3rd quarter worth about $609,000. Public Employees Retirement System of Ohio purchased a new position in shares of Amer Sports during the 3rd quarter worth about $337,000. Finally, State Street Corp lifted its holdings in shares of Amer Sports by 65.1% during the 3rd 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 during the period. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Amer Sports Stock Down 0.6 %

Shares of NYSE:AS opened at $28.32 on Wednesday. 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, Inc. has a 52-week low of $10.11 and a 52-week high of $34.00. The company has a 50 day moving average of $29.88 and a two-hundred day moving average of $24.03. The company has a market capitalization of $15.68 billion and a price-to-earnings ratio of -202.24.

Amer Sports (NYSE:AS) last issued its quarterly earnings data 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 negative net margin of 0.74% and a positive return on equity of 3.15%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.60 billion. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, analysts forecast that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Hsbc Global Res lowered shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Citigroup increased their price objective on shares of Amer Sports from $24.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Robert W. Baird increased their target price on shares of Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Sanford C. Bernstein started coverage on shares of Amer Sports in a research report on Thursday, February 13th. They set an “outperform” rating and a $38.00 target price for the company. Finally, Wells Fargo & Company increased their target price on shares of Amer Sports from $25.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Four 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.64.

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.