GAM Holding AG Sells 26,300 Shares of On Holding AG (NYSE:ONON)

GAM Holding AG lessened its position in On Holding AG (NYSE:ONON) by 8.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 282,400 shares of the company’s stock after selling 26,300 shares during the quarter. ON accounts for 1.1% of GAM Holding AG’s portfolio, making the stock its 20th largest position. GAM Holding AG’s holdings in ON were worth $14,162,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after buying an additional 403 shares during the period. Quarry LP acquired a new stake in ON in the 2nd quarter worth approximately $32,000. WD Rutherford LLC acquired a new stake in ON in the 1st quarter worth approximately $52,000. Asset Dedication LLC boosted its stake in ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after purchasing an additional 327 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in ON during the 3rd quarter valued at approximately $65,000. Institutional investors own 33.11% of the company’s stock.

ON Trading Up 0.7 %

Shares of ONON stock opened at $48.66 on Wednesday. The company’s 50-day moving average price is $47.71 and its 200-day moving average price is $41.14. The stock has a market cap of $30.64 billion, a price-to-earnings ratio of 91.81 and a beta of 2.24. On Holding AG has a twelve month low of $24.15 and a twelve month high of $52.80.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on ONON shares. Hsbc Global Res raised shares of ON to a “hold” rating in a report on Thursday, September 5th. Barclays boosted their price target on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Evercore ISI raised shares of ON to an “overweight” rating and boosted their price target for the stock from $43.00 to $47.00 in a report on Monday, August 12th. The Goldman Sachs Group boosted their price target on shares of ON from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Morgan Stanley boosted their price target on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and an average target price of $49.74.

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.