GAM Holding AG Invests $13.46 Million in Amer Sports, Inc. (NYSE:AS)

GAM Holding AG bought a new stake in Amer Sports, Inc. (NYSE:AS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 481,400 shares of the company’s stock, valued at approximately $13,460,000. Amer Sports accounts for about 1.0% of GAM Holding AG’s portfolio, making the stock its 27th biggest holding. GAM Holding AG owned 0.09% of Amer Sports at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Choreo LLC bought a new stake in shares of Amer Sports during the 4th quarter worth about $250,000. WT Asset Management Ltd lifted its position in Amer Sports by 188.2% in the fourth quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company’s stock worth $100,834,000 after purchasing an additional 2,355,182 shares during the period. Renaissance Capital LLC boosted its stake in Amer Sports by 116.2% during 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 in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Amer Sports by 15.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 135,570 shares of the company’s stock valued at $3,791,000 after purchasing an additional 18,600 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Amer Sports in the 4th quarter worth $104,000. Institutional investors own 40.25% of the company’s stock.

Amer Sports Stock Up 0.4 %

Shares of Amer Sports stock opened at $31.00 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. Amer Sports, Inc. has a 1 year low of $10.11 and a 1 year high of $34.00. The stock has a 50-day moving average price of $29.60 and a 200 day moving average price of $21.50. The company has a market cap of $16.93 billion and a P/E ratio of -221.38.

Analyst Upgrades and Downgrades

AS has been the subject of several research reports. Morgan Stanley raised their target price on Amer Sports from $19.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Citigroup raised their price objective 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 downgraded shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Monday, December 16th. The Goldman Sachs Group raised their target price on shares of Amer Sports from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, UBS Group upped their price target on Amer Sports from $27.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amer Sports has a consensus rating of “Moderate Buy” and an average price target of $28.64.

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.