Element Capital Management LLC Makes New $357,000 Investment in Amer Sports, Inc. (NYSE:AS)

Element Capital Management LLC bought a new position in Amer Sports, Inc. (NYSE:AS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,771 shares of the company’s stock, valued at approximately $357,000. Amer Sports makes up about 3.5% of Element Capital Management LLC’s holdings, making the stock its 4th biggest holding.

Several other hedge funds also recently modified their holdings of the business. FMR LLC increased its stake in shares of Amer Sports by 71.2% during the 3rd quarter. FMR LLC now owns 7,533,007 shares of the company’s stock worth $120,151,000 after purchasing an additional 3,133,312 shares during the last quarter. WT Asset Management Ltd increased its stake in shares of Amer Sports by 188.2% during the 4th 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 last quarter. Trivest Advisors Ltd acquired a new position in shares of Amer Sports during the 4th quarter worth $39,913,000. State Street Corp increased its stake in shares of Amer Sports by 65.1% during the 3rd quarter. State Street Corp now owns 884,526 shares of the company’s stock worth $14,108,000 after purchasing an additional 348,877 shares during the last quarter. Finally, Woodson Capital Management LP acquired a new position in shares of Amer Sports during the 3rd quarter worth $12,907,000. Institutional investors and hedge funds own 40.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AS. Hsbc Global Res lowered shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Wells Fargo & Company raised their target price on shares of Amer Sports from $25.00 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. UBS Group raised their target price 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. HSBC lowered shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Monday, December 16th. Finally, Sanford C. Bernstein assumed coverage on shares of Amer Sports in a research note on Thursday, February 13th. They issued an “outperform” rating and a $38.00 target price on the stock. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.64.

Amer Sports Stock Performance

NYSE AS opened at $29.19 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The firm has a market capitalization of $16.16 billion and a price-to-earnings ratio of -208.45. The company’s fifty day moving average is $29.85 and its two-hundred day moving average is $24.07. Amer Sports, Inc. has a 52-week low of $10.11 and a 52-week high of $34.00.

Amer Sports (NYSE:AS) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. Amer Sports’s revenue was up 23.2% compared to the same quarter last year. Equities research analysts forecast that Amer Sports, Inc. will post 0.46 EPS for the current year.

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.