Boothbay Fund Management LLC Acquires 243,586 Shares of Amer Sports, Inc. (NYSE:AS)

Boothbay Fund Management LLC raised its stake in Amer Sports, Inc. (NYSE:AS) by 772.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 275,127 shares of the company’s stock after acquiring an additional 243,586 shares during the quarter. Boothbay Fund Management LLC owned approximately 0.05% of Amer Sports worth $7,693,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. West Branch Capital LLC increased its stake in shares of Amer Sports by 14,285.7% in the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock worth $28,000 after purchasing an additional 1,000 shares in the last quarter. Kieckhefer Group LLC purchased a new position in Amer Sports in the 4th quarter worth approximately $42,000. JPMorgan Chase & Co. bought a new stake in shares of Amer Sports during the 3rd quarter worth $25,000. GAMMA Investing LLC boosted its holdings in shares of Amer Sports by 61.8% in the 4th quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock worth $54,000 after purchasing an additional 742 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake in Amer Sports by 55.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,487 shares of the company’s stock worth $97,000 after buying an additional 1,250 shares in the last quarter. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. TD Cowen lifted their target price on shares of Amer Sports from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price objective on Amer Sports from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. The Goldman Sachs Group cut their target price on shares of Amer Sports from $33.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday. Citigroup lifted their price target on Amer Sports from $24.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley upped their price objective on shares of Amer Sports from $19.00 to $27.00 and gave the stock an “equal weight” rating in a report 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.36.

Amer Sports Price Performance

Shares of NYSE:AS opened at $24.18 on Friday. The business has a 50-day simple moving average of $26.20 and a two-hundred day simple moving average of $25.82. Amer Sports, Inc. has a fifty-two week low of $10.11 and a fifty-two week high of $34.00. The firm has a market cap of $13.39 billion, a price-to-earnings ratio of -172.70, a price-to-earnings-growth ratio of 0.72 and a beta of 2.66. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62.

Amer Sports (NYSE:AS) last announced its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.60 billion. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. On average, analysts expect that Amer Sports, Inc. will post 0.46 earnings per share for the current 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.