Geode Capital Management LLC Decreases Stake in Amer Sports, Inc. (NYSE:AS)

Geode Capital Management LLC cut its holdings in shares of Amer Sports, Inc. (NYSE:AS) by 53.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 282,015 shares of the company’s stock after selling 319,833 shares during the period. Geode Capital Management LLC’s holdings in Amer Sports were worth $4,498,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AS. Signaturefd LLC bought a new stake in shares of Amer Sports during the 3rd quarter valued at about $49,000. Quarry LP purchased a new position in shares of Amer Sports in the third quarter valued at about $61,000. CWM LLC bought a new position in shares of Amer Sports in the third quarter worth about $73,000. Amalgamated Bank bought a new position in shares of Amer Sports in the second quarter worth about $83,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of Amer Sports during the third quarter worth about $180,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

Amer Sports Price Performance

Shares of AS opened at $29.49 on Monday. The company has a 50 day moving average of $24.13 and a two-hundred day moving average of $17.53. Amer Sports, Inc. has a twelve month low of $10.11 and a twelve month high of $29.76. The company has a market cap of $16.11 billion and a price-to-earnings ratio of -210.63. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup raised their target price on shares of Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Morgan Stanley boosted their target price on shares of Amer Sports from $15.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Hsbc Global Res downgraded shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. HSBC cut Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Monday, December 16th. Finally, UBS Group increased their price target on Amer Sports from $27.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amer Sports currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.14.

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.