OVERSEA CHINESE BANKING Corp Ltd Purchases New Shares in Amer Sports, Inc. (NYSE:AS)

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. West Branch Capital LLC raised its position in Amer Sports by 14,285.7% in the 4th quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock valued at $28,000 after purchasing an additional 1,000 shares during the last quarter. Kieckhefer Group LLC acquired a new position in Amer Sports in the 4th quarter valued at $42,000. JPMorgan Chase & Co. acquired a new position in Amer Sports in the 3rd quarter valued at $25,000. GAMMA Investing LLC increased its stake in Amer Sports by 61.8% in the 4th quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock valued at $54,000 after buying an additional 742 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Amer Sports in the 4th quarter valued at $104,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Wall Street Analyst Weigh In

AS has been the topic of several recent research reports. HSBC cut shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Monday, December 16th. UBS Group boosted their price objective on shares of Amer Sports from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on shares of Amer Sports from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Sanford C. Bernstein initiated coverage on shares of Amer Sports in a research note on Thursday, February 13th. They issued an “outperform” rating and a $38.00 price objective on the stock. Finally, Morgan Stanley upped their price target on shares of Amer Sports from $19.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.64.

Amer Sports Price Performance

Amer Sports stock opened at $28.32 on Wednesday. Amer Sports, Inc. has a 52 week low of $10.11 and a 52 week high of $34.00. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The firm’s 50-day simple moving average is $29.88 and its 200 day simple moving average is $24.03. The firm has a market capitalization of $15.68 billion and a PE ratio of -202.24.

Amer Sports (NYSE:AS) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, hitting 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 business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.60 billion. Amer Sports’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts predict that Amer Sports, Inc. will post 0.46 EPS for the current fiscal 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.