On Holding AG (NYSE:ONON) Shares Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. lifted its stake in shares of On Holding AG (NYSE:ONON) by 66,838.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,409,800 shares of the company’s stock after acquiring an additional 2,406,200 shares during the quarter. 1832 Asset Management L.P. owned about 0.38% of ON worth $93,500,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. William Blair Investment Management LLC purchased a new stake in shares of ON during the first quarter valued at $121,712,000. Norges Bank purchased a new position in shares of ON in the fourth quarter worth approximately $57,916,000. Westfield Capital Management Co. LP purchased a new position in shares of ON in the first quarter worth approximately $65,898,000. Acadian Asset Management LLC raised its holdings in shares of ON by 574.3% during the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock valued at $59,878,000 after acquiring an additional 1,315,006 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of ON in the 4th quarter valued at approximately $34,420,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Stock Up 0.4 %

ONON opened at $49.95 on Monday. The firm has a market capitalization of $31.45 billion, a P/E ratio of 113.53, a price-to-earnings-growth ratio of 1.39 and a beta of 2.24. The stock’s 50 day moving average price is $43.07 and its two-hundred day moving average price is $38.62. On Holding AG has a 12-month low of $23.41 and a 12-month high of $52.16.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The business had revenue of $627.66 million during 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, analysts anticipate that On Holding AG will post 0.82 earnings per share for the current year.

Wall Street Analyst Weigh In

ONON has been the topic of several recent analyst reports. TD Cowen boosted their target price on shares of ON from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Evercore ISI raised ON to an “overweight” rating and increased their price objective for the stock from $43.00 to $47.00 in a research note on Monday, August 12th. Sanford C. Bernstein started coverage on ON in a research report on Tuesday, June 11th. They set an “outperform” rating and a $50.00 price objective for the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $47.00 target price on shares of ON in a report on Tuesday, August 13th. Finally, Hsbc Global Res upgraded shares of ON to a “hold” rating in a report on Thursday, September 5th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, ON currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.89.

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.