Park Avenue Securities LLC Sells 486 Shares of On Holding AG (NYSE:ONON)

Park Avenue Securities LLC cut its holdings in shares of On Holding AG (NYSE:ONON) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,978 shares of the company’s stock after selling 486 shares during the period. Park Avenue Securities LLC’s holdings in ON were worth $318,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Orion Capital Management LLC grew its stake in shares of ON by 1,100.0% in the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after acquiring an additional 1,100 shares in the last quarter. VisionPoint Advisory Group LLC bought a new stake in ON in the 4th quarter worth about $32,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in ON in the 4th quarter valued at about $33,000. Spire Wealth Management lifted its position in shares of ON by 66.2% during the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock worth $45,000 after buying an additional 643 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new position in shares of ON in the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Price Performance

Shares of ON stock opened at $38.80 on Monday. On Holding AG has a one year low of $23.41 and a one year high of $44.30. The business’s 50 day simple moving average is $37.82 and its two-hundred day simple moving average is $33.23. The stock has a market capitalization of $24.43 billion, a P/E ratio of 88.18, a price-to-earnings-growth ratio of 1.14 and a beta of 2.27.

ON (NYSE:ONON) last issued its earnings results on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.12 by $0.20. The company had revenue of $581.41 million for the quarter, compared to the consensus estimate of $555.52 million. ON had a net margin of 6.46% and a return on equity of 11.13%. Sell-side analysts expect that On Holding AG will post 0.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

ONON has been the topic of a number of recent analyst reports. Truist Financial reiterated a “buy” rating and set a $46.00 price target on shares of ON in a report on Tuesday, June 18th. Barclays increased their target price on ON from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Redburn Atlantic restated a “neutral” rating and issued a $34.00 price objective on shares of ON in a research report on Thursday, March 7th. Telsey Advisory Group boosted their target price on ON from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Finally, Piper Sandler boosted their price target on shares of ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

ON 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.