Element Capital Management LLC Purchases New Position in Amer Sports, Inc. (NYSE:AS)

Element Capital Management LLC purchased a new stake in shares of Amer Sports, Inc. (NYSE:AS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,771 shares of the company’s stock, valued at approximately $357,000. Amer Sports comprises about 3.5% of Element Capital Management LLC’s investment portfolio, making the stock its 4th largest position.

Several other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Amer Sports by 71.2% during the 3rd quarter. FMR LLC now owns 7,533,007 shares of the company’s stock valued at $120,151,000 after purchasing an additional 3,133,312 shares during the last quarter. WT Asset Management Ltd lifted its holdings in Amer Sports by 188.2% during the 4th 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 during the last quarter. Trivest Advisors Ltd bought a new position in Amer Sports during the 4th quarter valued at about $39,913,000. State Street Corp lifted its holdings in Amer Sports by 65.1% during the 3rd quarter. State Street Corp now owns 884,526 shares of the company’s stock valued at $14,108,000 after purchasing an additional 348,877 shares during the last quarter. Finally, Woodson Capital Management LP bought a new position in Amer Sports during the 3rd quarter valued at about $12,907,000. 40.25% of the stock is owned by institutional investors.

Amer Sports Stock Up 3.1 %

Shares of NYSE AS opened at $29.19 on Thursday. The stock has a market cap of $16.16 billion and a P/E ratio of -208.45. The firm has a 50 day moving average price of $29.85 and a 200 day moving average price of $24.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. Amer Sports, Inc. has a 52-week low of $10.11 and a 52-week high of $34.00.

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 analysts’ consensus estimates of $0.17. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. Analysts expect that Amer Sports, Inc. will post 0.46 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AS shares. TD Cowen raised their price objective on shares of Amer Sports from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price objective on shares of Amer Sports from $25.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group raised their price objective on shares of Amer Sports from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Hsbc Global Res cut shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, Sanford C. Bernstein started coverage on shares of Amer Sports in a research report on Thursday, February 13th. They issued an “outperform” rating and a $38.00 price objective for the company. 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.64.

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.