Polymer Capital Management HK LTD Grows Stake in Amer Sports, Inc. (NYSE:AS)

Polymer Capital Management HK LTD boosted its holdings in Amer Sports, Inc. (NYSE:AS) by 236.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 438,966 shares of the company’s stock after purchasing an additional 308,376 shares during the quarter. Amer Sports comprises approximately 1.6% of Polymer Capital Management HK LTD’s portfolio, making the stock its 11th biggest position. Polymer Capital Management HK LTD’s holdings in Amer Sports were worth $7,002,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC acquired a new position in shares of Amer Sports in the 3rd quarter valued at $49,000. CWM LLC acquired a new position in Amer Sports in the third quarter valued at $73,000. Dnca Finance purchased a new position in shares of Amer Sports during the second quarter worth about $81,000. Amalgamated Bank purchased a new stake in shares of Amer Sports in the 2nd quarter valued at about $83,000. Finally, Sei Investments Co. boosted its position in shares of Amer Sports by 23.1% in the 2nd quarter. Sei Investments Co. now owns 73,141 shares of the company’s stock valued at $919,000 after purchasing an additional 13,748 shares during the period. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on AS. Wells Fargo & Company increased their price objective on Amer Sports from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Robert W. Baird upped their price objective on Amer Sports from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. TD Cowen lifted their target price on Amer Sports from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Citigroup upped their price target on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.43.

Amer Sports Price Performance

AS stock opened at $25.72 on Wednesday. The company has a market cap of $13.00 billion and a price-to-earnings ratio of -183.71. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $19.64 and a 200-day moving average of $15.51. Amer Sports, Inc. has a 12-month low of $10.11 and a 12-month high of $26.85.

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.