Thornburg Investment Management Inc. Invests $7.18 Million in Amer Sports, Inc. (NYSE:AS)

Thornburg Investment Management Inc. acquired a new position in Amer Sports, Inc. (NYSE:AS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 256,863 shares of the company’s stock, valued at approximately $7,182,000.

Several other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in shares of Amer Sports in the third quarter valued at about $25,000. West Branch Capital LLC raised its holdings 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 acquiring an additional 1,000 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Amer Sports by 55.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,487 shares of the company’s stock worth $97,000 after purchasing an additional 1,250 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Amer Sports during the 4th quarter worth approximately $104,000. Finally, Signaturefd LLC grew its position in shares of Amer Sports by 35.0% in the fourth quarter. Signaturefd LLC now owns 4,136 shares of the company’s stock valued at $116,000 after purchasing an additional 1,073 shares in the last quarter. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Amer Sports Stock Up 1.0%

Amer Sports stock opened at $31.16 on Friday. Amer Sports, Inc. has a fifty-two week low of $10.11 and a fifty-two week high of $34.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. The firm has a 50 day moving average price of $25.78 and a 200 day moving average price of $26.78. The company has a market capitalization of $17.26 billion, a PE ratio of -222.56, a price-to-earnings-growth ratio of 0.72 and a beta of 2.76.

Amer Sports (NYSE:AS) last announced its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The firm had revenue of $1.64 billion for 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%. The firm’s revenue was up 23.2% on a year-over-year basis. Research analysts expect that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Sanford C. Bernstein initiated coverage on Amer Sports in a research report on Thursday, February 13th. They set an “outperform” rating and a $38.00 price objective on the stock. Morgan Stanley lifted 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. The Goldman Sachs Group dropped their price objective on shares of Amer Sports from $33.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company lifted their target price on shares of Amer Sports from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Citigroup decreased their target price on shares of Amer Sports from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Four 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.55.

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.