WT Asset Management Ltd Boosts Stake in Amer Sports, Inc. (NYSE:AS)

WT Asset Management Ltd boosted its holdings in shares of Amer Sports, Inc. (NYSE:AS) by 188.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,606,363 shares of the company’s stock after buying an additional 2,355,182 shares during the quarter. Amer Sports makes up about 11.1% of WT Asset Management Ltd’s investment portfolio, making the stock its 2nd largest holding. WT Asset Management Ltd owned approximately 0.66% of Amer Sports worth $100,834,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Renaissance Capital LLC increased its position in Amer Sports by 116.2% in the fourth quarter. Renaissance Capital LLC now owns 135,697 shares of the company’s stock worth $3,794,000 after buying an additional 72,936 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Amer Sports by 15.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 135,570 shares of the company’s stock worth $3,791,000 after acquiring an additional 18,600 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in Amer Sports during the 4th quarter worth approximately $104,000. Exchange Traded Concepts LLC purchased a new position in Amer Sports during the fourth quarter valued at approximately $2,513,000. Finally, SG Americas Securities LLC bought a new position in shares of Amer Sports in the fourth quarter worth approximately $269,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AS has been the topic of several recent analyst reports. 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. TD Cowen boosted their price objective on 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 increased their target price on Amer Sports from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Morgan Stanley boosted their price target on Amer Sports from $19.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upped their price target on Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.07.

Amer Sports Price Performance

Shares of NYSE:AS opened at $31.64 on Wednesday. The firm has a fifty day simple moving average of $28.64 and a two-hundred day simple moving average of $20.24. 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 52 week low of $10.11 and a 52 week high of $34.00.

About Amer Sports

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.