International Assets Investment Management LLC Makes New $699,000 Investment in On Holding AG (NYSE:ONON)

International Assets Investment Management LLC purchased a new position in On Holding AG (NYSE:ONON) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,942 shares of the company’s stock, valued at approximately $699,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Ameritas Advisory Services LLC raised its holdings in shares of ON by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock worth $924,000 after buying an additional 300 shares during the last quarter. Artemis Investment Management LLP increased its stake in shares of ON by 1.9% in the second quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock worth $637,000 after acquiring an additional 302 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of ON by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after acquiring an additional 325 shares during the period. Asset Dedication LLC increased its stake in shares of 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 acquiring an additional 327 shares during the period. Finally, Sage Capital Advisors llc increased its stake in shares of ON by 0.3% in the third quarter. Sage Capital Advisors llc now owns 99,859 shares of the company’s stock worth $5,008,000 after acquiring an additional 328 shares during the period. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Stock Up 3.4 %

ONON opened at $47.88 on Wednesday. The company has a market cap of $30.15 billion, a price-to-earnings ratio of 90.34 and a beta of 2.25. On Holding AG has a 52-week low of $24.15 and a 52-week high of $52.80. The firm’s fifty day simple moving average is $48.67 and its two-hundred day simple moving average is $42.24.

ON (NYSE:ONON) last posted 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 for the quarter, compared to analysts’ expectations of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. On average, research analysts forecast that On Holding AG will post 0.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ONON shares. Truist Financial increased their price objective on shares of ON from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. TD Cowen increased their price objective on shares of ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Morgan Stanley increased their price objective on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Barclays increased their price objective on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, Piper Sandler raised their price target on shares of ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.05.

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.