On Holding AG (NYSE:ONON) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its position in shares of On Holding AG (NYSE:ONON) by 59.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,950 shares of the company’s stock after selling 12,925 shares during the period. Private Advisor Group LLC’s holdings in ON were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC increased its holdings in shares of ON by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock worth $924,000 after buying an additional 300 shares during the last quarter. Artemis Investment Management LLP increased its holdings in ON by 1.9% in the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock valued at $637,000 after purchasing an additional 302 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in ON by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock valued at $404,000 after purchasing an additional 325 shares during the last quarter. Asset Dedication LLC increased its holdings in ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares during the last quarter. Finally, Sage Capital Advisors llc increased its holdings in ON by 0.3% in the 3rd quarter. Sage Capital Advisors llc now owns 99,859 shares of the company’s stock valued at $5,008,000 after purchasing an additional 328 shares during the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ONON. HSBC began coverage on shares of ON in a report on Thursday, September 5th. They issued a “hold” rating and a $52.00 target price for the company. KeyCorp lifted their target price on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Truist Financial boosted their price target on shares of ON from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Stifel Nicolaus boosted their price target on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Piper Sandler boosted their price target on shares of ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.05.

ON Trading Down 0.4 %

ON stock opened at $46.30 on Tuesday. On Holding AG has a 12-month low of $24.15 and a 12-month high of $52.80. The stock has a market cap of $29.15 billion, a P/E ratio of 87.36 and a beta of 2.25. The company has a fifty day simple moving average of $48.67 and a 200-day simple moving average of $42.13.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The company had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. As a group, sell-side analysts forecast that On Holding AG will post 0.76 earnings per share for the current fiscal year.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.