Oxbow Capital Management HK Ltd Acquires New Holdings in Amer Sports, Inc. (NYSE:AS)

Oxbow Capital Management HK Ltd bought a new position in shares of Amer Sports, Inc. (NYSE:AS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,500,000 shares of the company’s stock, valued at approximately $41,940,000. Amer Sports comprises 14.9% of Oxbow Capital Management HK Ltd’s portfolio, making the stock its 4th largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Element Capital Management LLC purchased a new stake in Amer Sports in the 4th quarter valued at approximately $357,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Amer Sports in the third quarter valued at $337,000. State Street Corp boosted its stake in shares of Amer Sports by 65.1% during the third quarter. State Street Corp now owns 884,526 shares of the company’s stock valued at $14,108,000 after acquiring an additional 348,877 shares during the last quarter. GAM Holding AG purchased a new stake in Amer Sports during the 4th quarter worth about $13,460,000. Finally, Renaissance Capital LLC raised its stake in Amer Sports by 116.2% in the 4th quarter. Renaissance Capital LLC now owns 135,697 shares of the company’s stock valued at $3,794,000 after purchasing an additional 72,936 shares during the last quarter. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein initiated coverage on shares of Amer Sports in a research note on Thursday, February 13th. They set an “outperform” rating and a $38.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on shares of Amer Sports from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Citigroup increased their price target on Amer Sports from $24.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on Amer Sports from $25.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Finally, TD Cowen raised their price target on Amer Sports from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amer Sports has a consensus rating of “Moderate Buy” and a consensus target price of $32.64.

Amer Sports Stock Performance

Amer Sports stock opened at $22.14 on Monday. 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 12 month low of $10.11 and a 12 month high of $34.00. The company has a market cap of $12.26 billion, a price-to-earnings ratio of -158.12, a price-to-earnings-growth ratio of 0.72 and a beta of 2.66. The stock’s 50-day moving average is $26.98 and its 200-day moving average is $25.74.

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

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.