Susquehanna Fundamental Investments LLC Takes Position in On Holding AG (NYSE:ONON)

Susquehanna Fundamental Investments LLC bought a new stake in On Holding AG (NYSE:ONON) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 128,610 shares of the company’s stock, valued at approximately $4,550,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Asset Management One Co. Ltd. grew its stake in shares of ON by 20.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,145 shares of the company’s stock valued at $60,000 after purchasing an additional 367 shares during the last quarter. Janney Capital Management LLC increased its stake in ON by 3.1% in the 4th quarter. Janney Capital Management LLC now owns 14,893 shares of the company’s stock valued at $402,000 after buying an additional 443 shares during the period. Avitas Wealth Management LLC raised its position in ON by 2.7% during the 4th quarter. Avitas Wealth Management LLC now owns 22,943 shares of the company’s stock worth $619,000 after buying an additional 602 shares during the last quarter. Spire Wealth Management lifted its stake in shares of 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 acquiring an additional 643 shares during the period. Finally, Compagnie Lombard Odier SCmA boosted its holdings in shares of ON by 5.5% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 13,392 shares of the company’s stock valued at $361,000 after acquiring an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Stock Down 1.0 %

Shares of NYSE ONON traded down $0.36 during midday trading on Monday, hitting $37.15. The stock had a trading volume of 2,468,937 shares, compared to its average volume of 5,177,335. The company has a fifty day moving average price of $38.80 and a 200 day moving average price of $33.78. The company has a market capitalization of $23.39 billion, a price-to-earnings ratio of 85.25, a PEG ratio of 1.10 and a beta of 2.23. On Holding AG has a 1-year low of $23.41 and a 1-year high of $44.30.

ON (NYSE:ONON) last posted its earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.20. The business had revenue of $581.41 million for 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%. On average, research analysts forecast that On Holding AG will post 0.78 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on ONON. JPMorgan Chase & Co. increased their price objective on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Telsey Advisory Group increased their price target on shares of ON from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Needham & Company LLC boosted their price objective on shares of ON from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Morgan Stanley restated an “overweight” rating and set a $40.00 target price on shares of ON in a research report on Friday, June 21st. Finally, Piper Sandler lifted their price target on shares of ON from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, ON currently has a consensus rating of “Moderate Buy” and a consensus 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.