25,725 Shares in On Holding AG (NYSE:ONON) Bought by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC bought a new stake in On Holding AG (NYSE:ONON) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 25,725 shares of the company’s stock, valued at approximately $694,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ONON. Asset Management One Co. Ltd. raised its stake in shares of ON by 20.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,145 shares of the company’s stock valued at $60,000 after purchasing an additional 367 shares in the last quarter. Janney Capital Management LLC lifted its stake in shares of ON by 2.7% in the 3rd quarter. Janney Capital Management LLC now owns 14,450 shares of the company’s stock worth $402,000 after acquiring an additional 384 shares during the period. Pittenger & Anderson Inc. boosted its holdings in shares of ON by 34.8% in the third quarter. Pittenger & Anderson Inc. now owns 1,550 shares of the company’s stock valued at $43,000 after acquiring an additional 400 shares in the last quarter. Spire Wealth Management increased its stake in shares of ON by 91.0% during the third quarter. Spire Wealth Management now owns 972 shares of the company’s stock valued at $27,000 after acquiring an additional 463 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of ON by 63.7% during the third quarter. PNC Financial Services Group Inc. now owns 1,521 shares of the company’s stock valued at $42,000 after acquiring an additional 592 shares during the period. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Price Performance

ONON stock opened at $32.98 on Thursday. The company’s 50 day simple moving average is $33.23 and its 200-day simple moving average is $30.07. On Holding AG has a 52-week low of $23.41 and a 52-week high of $37.08. The firm has a market capitalization of $20.77 billion, a P/E ratio of 122.15, a P/E/G ratio of 1.16 and a beta of 2.17.

ON (NYSE:ONON) last announced its earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.18). The firm had revenue of $504.69 million for the quarter, compared to analyst estimates of $515.30 million. ON had a net margin of 4.04% and a return on equity of 6.85%. Sell-side analysts predict that On Holding AG will post 0.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ONON has been the subject of a number of research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $40.00 price target on shares of ON in a research note on Tuesday, March 5th. Morgan Stanley raised their target price on ON from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday. TD Cowen lifted their target price on ON from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. TheStreet downgraded shares of ON from a “c” rating to a “d+” rating in a report on Monday, March 18th. Finally, Piper Sandler lifted their price objective on shares of ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, ON presently has an average rating of “Moderate Buy” and a consensus price target of $37.53.

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.