Trivest Advisors Ltd Makes New $39.91 Million Investment in Amer Sports, Inc. (NYSE:AS)

Trivest Advisors Ltd acquired a new stake in Amer Sports, Inc. (NYSE:AS) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,427,500 shares of the company’s stock, valued at approximately $39,913,000. Amer Sports accounts for 1.8% of Trivest Advisors Ltd’s portfolio, making the stock its 22nd largest position.

Other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new stake in Amer Sports during the 4th quarter valued at approximately $851,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Amer Sports in the fourth quarter valued at $4,342,000. OPTIMAS CAPITAL Ltd acquired a new position in shares of Amer Sports in the fourth quarter worth about $4,468,000. Signaturefd LLC boosted its stake in shares of Amer Sports by 35.0% during the 4th quarter. Signaturefd LLC now owns 4,136 shares of the company’s stock worth $116,000 after acquiring an additional 1,073 shares in the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. acquired a new stake in shares of Amer Sports during the 4th quarter valued at about $21,608,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AS has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Amer Sports from $25.00 to $28.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Sanford C. Bernstein assumed coverage on Amer Sports in a research note on Thursday, February 13th. They set an “outperform” rating and a $38.00 target price for the company. Hsbc Global Res cut shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Citigroup upped their price objective on shares of Amer Sports from $24.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Robert W. Baird increased their price objective on shares of Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.64.

Amer Sports Stock Performance

NYSE:AS opened at $28.32 on Wednesday. The company has a market cap of $15.68 billion and a P/E ratio of -202.24. Amer Sports, Inc. has a twelve month low of $10.11 and a twelve month high of $34.00. The company’s 50-day moving average price is $29.88 and its 200-day moving average price is $24.03. 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 (NYSE:AS) last released its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, sell-side analysts forecast that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

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.