SG Americas Securities LLC Trims Stock Holdings in On Holding AG (NYSE:ONON)

SG Americas Securities LLC decreased its stake in On Holding AG (NYSE:ONON) by 28.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 303,811 shares of the company’s stock after selling 119,843 shares during the quarter. SG Americas Securities LLC’s holdings in ON were worth $15,236,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ONON. William Blair Investment Management LLC bought a new position in shares of ON in the first quarter worth about $121,712,000. 1832 Asset Management L.P. boosted its stake in shares of ON by 66,838.9% in the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after acquiring an additional 2,406,200 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of ON in the first quarter worth about $65,898,000. Acadian Asset Management LLC boosted its stake in 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 buying an additional 1,315,006 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in ON during the fourth quarter valued at approximately $34,420,000. Institutional investors own 33.11% of the company’s stock.

Analyst Upgrades and Downgrades

ONON has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Truist Financial increased their price target on ON from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday. Sanford C. Bernstein initiated coverage on ON in a research note on Tuesday, June 11th. They set an “outperform” rating and a $50.00 price target for the company. Barclays upped their price objective on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, Evercore ISI upgraded ON to an “overweight” rating and upped their price objective for the company from $43.00 to $47.00 in a research report on Monday, August 12th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.90.

ON Stock Up 4.1 %

Shares of ONON stock traded up $2.04 on Friday, hitting $51.71. The company had a trading volume of 3,510,880 shares, compared to its average volume of 5,164,025. The firm has a market cap of $32.56 billion, a P/E ratio of 117.50, a price-to-earnings-growth ratio of 1.26 and a beta of 2.24. The company has a 50-day moving average price of $45.24 and a 200-day moving average price of $39.77. On Holding AG has a twelve month low of $23.41 and a twelve month high of $52.16.

ON (NYSE:ONON) last issued 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 company 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%. Equities research analysts expect that On Holding AG will post 0.82 EPS for the current year.

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.