Wealthcare Advisory Partners LLC Invests $694,000 in On Holding AG (NYSE:ONON)

Wealthcare Advisory Partners LLC purchased a new stake in On Holding AG (NYSE:ONON - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 25,725 shares of the company's stock, valued at approximately $694,000.

Several other large investors also recently made changes to their positions in the business. Jennison Associates LLC lifted its holdings in shares of ON by 7.6% during the third quarter. Jennison Associates LLC now owns 7,887,000 shares of the company's stock valued at $219,416,000 after purchasing an additional 554,513 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of ON by 109.3% in the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company's stock worth $182,688,000 after buying an additional 3,428,794 shares during the period. Bamco Inc. NY boosted its holdings in shares of ON by 243.0% in the third quarter. Bamco Inc. NY now owns 3,028,002 shares of the company's stock worth $84,239,000 after buying an additional 2,145,318 shares during the period. Invesco Ltd. increased its position in shares of ON by 2.7% in the third quarter. Invesco Ltd. now owns 2,908,297 shares of the company's stock worth $80,909,000 after acquiring an additional 76,518 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. acquired a new stake in shares of ON during the third quarter valued at approximately $59,539,000. Institutional investors own 33.11% of the company's stock.

ON Stock Down 5.1 %

Shares of NYSE:ONON traded down $1.69 on Thursday, reaching $31.29. The company had a trading volume of 6,996,924 shares, compared to its average volume of 4,997,712. The stock has a market capitalization of $19.70 billion, a P/E ratio of 115.89, a P/E/G ratio of 1.16 and a beta of 2.17. The stock has a 50-day moving average price of $33.16 and a 200 day moving average price of $30.08. On Holding AG has a twelve month low of $23.41 and a twelve month high of $37.08.

ON (NYSE:ONON - Get Free Report) last announced its earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.18). ON had a return on equity of 6.85% and a net margin of 4.04%. The company had revenue of $504.69 million for the quarter, compared to the consensus estimate of $515.30 million. On average, sell-side analysts predict that On Holding AG will post 0.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. TD Cowen lifted their price objective on shares of ON from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, May 2nd. Redburn Atlantic reiterated a "neutral" rating and set a $34.00 price target on shares of ON in a report on Thursday, March 7th. Evercore ISI reduced their price objective on ON from $40.00 to $37.00 and set an "outperform" rating for the company in a research note on Wednesday, March 13th. Barclays assumed coverage on ON in a research note on Monday, April 1st. They set an "overweight" rating and a $38.00 target price on the stock. Finally, TheStreet lowered shares of ON from a "c" rating to a "d+" rating in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $37.53.

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.