Trexquant Investment LP Trims Position in On Holding AG (NYSE:ONON)

Trexquant Investment LP cut its holdings in shares of On Holding AG (NYSE:ONON) by 62.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 102,860 shares of the company’s stock after selling 171,589 shares during the period. Trexquant Investment LP’s holdings in ON were worth $2,774,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. American Century Companies Inc. lifted its holdings in shares of ON by 109.3% in the 3rd quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock valued at $182,688,000 after buying an additional 3,428,794 shares during the period. Bamco Inc. NY boosted its stake in shares of ON by 243.0% during the 3rd quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock worth $84,239,000 after acquiring an additional 2,145,318 shares in the last quarter. Invesco Ltd. raised its holdings in ON by 2.7% in the 3rd quarter. Invesco Ltd. now owns 2,908,297 shares of the company’s stock valued at $80,909,000 after acquiring an additional 76,518 shares during the last quarter. Norges Bank acquired a new stake in ON in the 4th quarter valued at $57,916,000. Finally, Jericho Capital Asset Management L.P. bought a new position in shares of ON during the third quarter worth about $59,539,000. 33.11% of the stock is owned by hedge funds and other institutional investors.

ON Stock Up 4.7 %

NYSE:ONON traded up $1.82 during trading hours on Friday, hitting $40.23. 7,449,295 shares of the stock were exchanged, compared to its average volume of 5,850,103. On Holding AG has a twelve month low of $23.41 and a twelve month high of $40.32. The company’s 50 day moving average is $33.91 and its two-hundred day moving average is $30.87. The company has a market capitalization of $25.33 billion, a P/E ratio of 91.43, a price-to-earnings-growth ratio of 1.35 and a beta of 2.17.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The company had revenue of $504.69 million during the quarter, compared to analyst estimates of $515.30 million. ON had a net margin of 6.46% and a return on equity of 11.13%. On average, equities research analysts expect that On Holding AG will post 0.65 EPS for the current year.

Analyst Ratings Changes

ONON has been the topic of a number of recent research reports. Truist Financial raised their price target on shares of ON from $30.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, May 15th. Morgan Stanley raised their target price on shares of ON from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Evercore ISI boosted their target price on shares of ON from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Needham & Company LLC upped their target price on shares of ON from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $41.00 price target on shares of ON in a research report on Thursday, May 16th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.87.

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.