On Holding AG (NYSE:ONON) Shares Bought by Manchester Global Management UK Ltd

Manchester Global Management UK Ltd boosted its stake in shares of On Holding AG (NYSE:ONON) by 1.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 580,605 shares of the company’s stock after buying an additional 6,855 shares during the period. ON accounts for 4.0% of Manchester Global Management UK Ltd’s investment portfolio, making the stock its 14th largest position. Manchester Global Management UK Ltd owned 0.09% of ON worth $22,527,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. WD Rutherford LLC acquired a new position in shares of ON in the 1st quarter valued at $52,000. Asset Dedication LLC lifted its stake in shares of ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares during the last quarter. Orion Capital Management LLC lifted its stake in shares of ON by 106.7% in the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock valued at $88,000 after purchasing an additional 1,280 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of ON by 24.0% in the 2nd quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after purchasing an additional 500 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new position in shares of ON in the 1st quarter valued at $100,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ONON shares. Hsbc Global Res raised ON to a “hold” rating in a research note on Thursday, September 5th. HSBC initiated coverage on ON in a research note on Thursday, September 5th. They issued a “hold” rating and a $52.00 price target on the stock. The Goldman Sachs Group boosted their price objective on ON from $41.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Stifel Nicolaus boosted their price objective on ON from $45.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Sanford C. Bernstein initiated coverage on ON in a report on Tuesday, June 11th. They issued an “outperform” rating and a $50.00 price objective on the stock. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.30.

ON Stock Performance

NYSE:ONON opened at $50.42 on Tuesday. The stock has a 50-day simple moving average of $43.32 and a 200-day simple moving average of $38.75. The stock has a market cap of $31.74 billion, a P/E ratio of 114.58, a P/E/G ratio of 1.39 and a beta of 2.24. On Holding AG has a 1 year low of $23.41 and a 1 year high of $52.16.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). The business had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. On average, equities research analysts predict that On Holding AG will post 0.82 EPS for the current year.

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.