China Universal Asset Management Co. Ltd. raised its position in shares of On Holding AG (NYSE:ONON - Free Report) by 127.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,585 shares of the company's stock after buying an additional 73,839 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in ON were worth $3,549,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Spire Wealth Management raised its stake in shares of ON by 91.0% in the third quarter. Spire Wealth Management now owns 972 shares of the company's stock valued at $27,000 after acquiring an additional 463 shares in the last quarter. Belpointe Asset Management LLC raised its stake in shares of ON by 75.3% in the first quarter. Belpointe Asset Management LLC now owns 1,057 shares of the company's stock valued at $33,000 after acquiring an additional 454 shares in the last quarter. Asset Dedication LLC acquired a new stake in shares of ON in the third quarter valued at $35,000. Signaturefd LLC raised its stake in shares of ON by 816.7% in the third quarter. Signaturefd LLC now owns 1,375 shares of the company's stock valued at $38,000 after acquiring an additional 1,225 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of ON by 63.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,521 shares of the company's stock valued at $42,000 after acquiring an additional 592 shares in the last quarter. 33.11% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have weighed in on ONON shares. Evercore ISI cut their price target on ON from $40.00 to $37.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 13th. Telsey Advisory Group restated an "outperform" rating and issued a $37.00 price target on shares of ON in a research note on Wednesday, March 6th. TheStreet cut ON from a "c" rating to a "d+" rating in a research note on Monday, March 18th. Redburn Atlantic restated a "neutral" rating and issued a $34.00 price target on shares of ON in a research note on Thursday, March 7th. Finally, Piper Sandler lifted their target price on ON from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, March 21st. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, ON has a consensus rating of "Moderate Buy" and an average price target of $37.13.
Get Our Latest Stock Report on ONON
ON Stock Down 3.1 %
Shares of ON stock traded down $1.03 during trading on Thursday, hitting $32.15. 4,039,777 shares of the company were exchanged, compared to its average volume of 5,580,023. On Holding AG has a fifty-two week low of $23.41 and a fifty-two week high of $37.08. The stock has a market capitalization of $20.24 billion, a price-to-earnings ratio of 119.07, a P/E/G ratio of 1.34 and a beta of 2.16. The firm has a 50 day moving average price of $31.98 and a 200 day moving average price of $28.98.
ON (NYSE:ONON - Get Free Report) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.18). The company had revenue of $504.69 million for the quarter, compared to analyst estimates of $515.30 million. ON had a return on equity of 6.85% and a net margin of 4.04%. Analysts predict that On Holding AG will post 0.67 earnings per share for the current year.
About ON
(
Free Report)
On Holding AG develops and distributes sports products worldwide. It offers athletic footwear, apparel, and accessories. The company offers its products through independent retailers and distributors, online, and stores. The company was founded in 2010 and is headquartered in Zurich, Switzerland.
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