Fred Alger Management LLC Takes Position in Amer Sports, Inc. (NYSE:AS)

Fred Alger Management LLC acquired a new stake in Amer Sports, Inc. (NYSE:AS) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 81,250 shares of the company’s stock, valued at approximately $2,272,000.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its position 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 worth $738,550,000 after acquiring an additional 18,881,504 shares in the last quarter. Brilliance Asset Management Ltd. increased its holdings in Amer Sports by 5.1% during the 4th quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company’s stock worth $113,883,000 after purchasing an additional 196,380 shares in the last quarter. Candlestick Capital Management LP raised its stake in shares of Amer Sports by 1.7% in the 4th quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company’s stock valued at $108,052,000 after purchasing an additional 63,078 shares during the period. WT Asset Management Ltd lifted its holdings in shares of Amer Sports by 188.2% in the fourth quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company’s stock valued at $100,834,000 after purchasing an additional 2,355,182 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Amer Sports by 262.5% during the fourth quarter. Marshall Wace LLP now owns 3,316,167 shares of the company’s stock worth $92,720,000 after buying an additional 2,401,302 shares during the period. Institutional investors and hedge funds own 40.25% of the company’s stock.

Amer Sports Stock Performance

AS opened at $26.99 on Friday. 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 12-month low of $10.11 and a 12-month high of $34.00. The business has a 50 day moving average of $25.43 and a 200-day moving average of $26.28. The stock has a market cap of $14.95 billion, a price-to-earnings ratio of -192.77, a PEG ratio of 0.72 and a beta of 2.76.

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

Analyst Ratings Changes

Several equities research analysts have commented on the company. Sanford C. Bernstein initiated coverage on Amer Sports in a research note on Thursday, February 13th. They issued an “outperform” rating and a $38.00 target price on the stock. The Goldman Sachs Group reduced their target price on shares of Amer Sports from $33.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company lowered their price target on shares of Amer Sports from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. increased their price objective 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. Finally, Citigroup lowered their target price on Amer Sports from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Four research 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. Based on data from MarketBeat, Amer Sports presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.45.

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.