Regal Investment Advisors LLC Lowers Holdings in On Holding AG (NYSE:ONON)

Regal Investment Advisors LLC decreased its holdings in On Holding AG (NYSE:ONON) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,825 shares of the company’s stock after selling 1,496 shares during the quarter. Regal Investment Advisors LLC’s holdings in ON were worth $1,817,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of ON in the 2nd quarter valued at about $32,000. Creative Planning lifted its stake in shares of ON by 13.6% in the 2nd quarter. Creative Planning now owns 17,619 shares of the company’s stock valued at $684,000 after purchasing an additional 2,115 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of ON in the 2nd quarter valued at about $595,000. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of ON in the 2nd quarter valued at about $233,000. Finally, Maverick Capital Ltd. acquired a new position in shares of ON in the 2nd quarter valued at about $1,950,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Stock Performance

NYSE:ONON opened at $50.13 on Tuesday. The company has a market capitalization of $31.56 billion, a price-to-earnings ratio of 113.93, a price-to-earnings-growth ratio of 1.25 and a beta of 2.24. On Holding AG has a one year low of $23.41 and a one year high of $52.16. The stock has a 50-day simple moving average of $44.20 and a 200 day simple moving average of $39.27.

ON (NYSE:ONON) last issued its quarterly earnings results 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 the consensus estimate of $634.43 million. On average, equities research analysts forecast that On Holding AG will post 0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. KeyCorp lifted their price objective on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. TD Cowen lifted their price objective on ON from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday. Truist Financial lifted their price objective on ON from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Hsbc Global Res raised ON to a “hold” rating in a research report on Thursday, September 5th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $47.00 price target on shares of ON in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, ON has an average rating of “Moderate Buy” and a consensus price target of $48.35.

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.