nVerses Capital LLC Takes Position in On Holding AG (NYSE:ONON)

nVerses Capital LLC bought a new position in On Holding AG (NYSE:ONON) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 1,300 shares of the company’s stock, valued at approximately $65,000.

Several other large investors have also recently modified their holdings of the stock. Quarry LP bought a new position in ON during the second quarter valued at $32,000. WD Rutherford LLC purchased a new stake in ON in the 1st quarter worth about $52,000. Asset Dedication LLC lifted its stake in ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after purchasing an additional 327 shares during the last quarter. Tsfg LLC bought a new stake in ON in the third quarter worth about $69,000. Finally, Orion Capital Management LLC boosted its position in shares of ON by 106.7% during the first quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock valued at $88,000 after buying an additional 1,280 shares during the period. Institutional investors own 33.11% of the company’s stock.

ON Stock Down 0.0 %

Shares of ONON opened at $48.31 on Tuesday. The company has a 50 day moving average of $47.56 and a two-hundred day moving average of $41.02. On Holding AG has a twelve month low of $24.15 and a twelve month high of $52.80. The company has a market cap of $30.42 billion, a price-to-earnings ratio of 91.15 and a beta of 2.24.

ON (NYSE:ONON) last announced its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The business had revenue of $627.66 million for the quarter, compared to analysts’ expectations of $634.43 million. On average, sell-side analysts expect that On Holding AG will post 0.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley raised their price target on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Stifel Nicolaus upped their price target on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Evercore ISI raised shares of ON to an “overweight” rating and raised their price target for the stock from $43.00 to $47.00 in a research note on Monday, August 12th. Truist Financial boosted their price objective on shares of ON from $51.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Hsbc Global Res raised shares of ON to a “hold” rating in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.74.

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.