Watts Gwilliam & Co. LLC Purchases Shares of 62,500 On Holding AG (NYSE:ONON)

Watts Gwilliam & Co. LLC purchased a new stake in On Holding AG (NYSE:ONON) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,500 shares of the company’s stock, valued at approximately $3,234,000.

Several other hedge funds also recently added to or reduced their stakes in ONON. Ogborne Capital Management LLC boosted its holdings in ON by 70.5% in the fourth quarter. Ogborne Capital Management LLC now owns 502,416 shares of the company’s stock valued at $13,550,000 after purchasing an additional 207,779 shares during the last quarter. Peloton Wealth Strategists raised its position in shares of ON by 19.0% in the fourth quarter. Peloton Wealth Strategists now owns 29,575 shares of the company’s stock worth $798,000 after acquiring an additional 4,730 shares during the period. Virtu Financial LLC raised its position in shares of ON by 244.5% in the fourth quarter. Virtu Financial LLC now owns 88,058 shares of the company’s stock worth $2,375,000 after acquiring an additional 62,495 shares during the period. Goldman Sachs Group Inc. raised its position in shares of ON by 35.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,046,862 shares of the company’s stock worth $28,234,000 after acquiring an additional 273,986 shares during the period. Finally, Wellington Management Group LLP acquired a new position in shares of ON in the fourth quarter worth about $34,420,000. 33.11% of the stock is owned by hedge funds and other institutional investors.

ON Stock Down 2.0 %

ON stock opened at $49.94 on Friday. On Holding AG has a 52-week low of $23.41 and a 52-week high of $52.80. The company’s 50 day moving average is $46.09 and its two-hundred day moving average is $40.21. The firm has a market cap of $31.44 billion, a PE ratio of 94.23 and a beta of 2.24.

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

Wall Street Analyst Weigh In

ONON has been the subject of several research analyst reports. Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. Raymond James initiated coverage on shares of ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price target for the company. The Goldman Sachs Group upped their price target on shares of ON from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Telsey Advisory Group restated an “outperform” rating and set a $47.00 price target on shares of ON in a research report on Tuesday, August 13th. Finally, Piper Sandler upped their price target on shares of ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.74.

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.