Wasatch Advisors LP Invests $14.82 Million in On Holding AG (NYSE:ONON)

Wasatch Advisors LP purchased a new position in On Holding AG (NYSE:ONON) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 418,952 shares of the company’s stock, valued at approximately $14,823,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orion Capital Management LLC increased its position in ON by 1,100.0% in the fourth quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after buying an additional 1,100 shares during the period. VisionPoint Advisory Group LLC bought a new stake in ON in the 4th quarter valued at about $32,000. Global Wealth Management Investment Advisory Inc. acquired a new position in ON during the 4th quarter valued at about $33,000. Spire Wealth Management grew its position in ON by 66.2% in the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock worth $45,000 after purchasing an additional 643 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in shares of ON in the fourth quarter valued at approximately $47,000. 33.11% of the stock is owned by institutional investors.

ON Stock Down 2.1 %

Shares of NYSE ONON opened at $37.24 on Wednesday. On Holding AG has a 52-week low of $23.41 and a 52-week high of $44.30. The stock has a market capitalization of $23.45 billion, a price-to-earnings ratio of 84.64, a PEG ratio of 1.14 and a beta of 2.23. The stock’s fifty day simple moving average is $38.04 and its 200 day simple moving average is $33.33.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.20. The company had revenue of $581.41 million during the quarter, compared to analyst estimates of $555.52 million. ON had a net margin of 6.46% and a return on equity of 11.13%. As a group, analysts anticipate that On Holding AG will post 0.78 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on ON from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial reissued a “buy” rating and set a $46.00 price target on shares of ON in a report on Tuesday, June 18th. Stifel Nicolaus restated a “buy” rating and set a $41.00 price objective on shares of ON in a research note on Thursday, May 16th. TD Cowen increased their target price on shares of ON from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Sanford C. Bernstein assumed coverage on shares of ON in a research report on Tuesday, June 11th. They set an “outperform” rating and a $50.00 price target on the stock. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, ON presently has a consensus rating of “Moderate Buy” and an average target price of $42.53.

About ON

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.