Assetmark Inc. Purchases 24,566 Shares of On Holding AG $ONON

Assetmark Inc. lifted its position in On Holding AG (NYSE:ONON) by 308.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,540 shares of the company’s stock after buying an additional 24,566 shares during the quarter. Assetmark Inc.’s holdings in ON were worth $1,694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ONON. Jennison Associates LLC grew its stake in shares of ON by 136.6% in the first quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock valued at $212,943,000 after buying an additional 2,798,794 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of ON by 13.9% in the first quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after buying an additional 2,416,534 shares in the last quarter. Nuveen LLC bought a new position in shares of ON in the first quarter valued at $102,850,000. Bessemer Group Inc. bought a new position in shares of ON in the second quarter valued at $43,344,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of ON in the second quarter valued at $41,208,000. 36.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ONON has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of ON from $75.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Morgan Stanley boosted their target price on shares of ON from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Raymond James Financial reduced their target price on shares of ON from $66.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, October 21st. The Goldman Sachs Group set a $50.00 target price on shares of ON in a research report on Monday, October 27th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.05.

ON Stock Down 0.7%

Shares of NYSE ONON opened at $36.22 on Wednesday. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. The company has a market cap of $22.80 billion, a price-to-earnings ratio of 80.48, a PEG ratio of 4.53 and a beta of 2.18. On Holding AG has a 12 month low of $34.59 and a 12 month high of $64.05. The stock has a 50-day moving average price of $42.80 and a two-hundred day moving average price of $48.59.

ON (NYSE:ONON) last issued its earnings results on Tuesday, August 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.35). The business had revenue of $944.29 million for the quarter, compared to analyst estimates of $707.74 million. ON had a return on equity of 8.75% and a net margin of 4.45%.The firm’s revenue was up 32.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. ON has set its FY 2025 guidance at EPS. As a group, analysts forecast that On Holding AG will post 0.66 earnings per share for the current fiscal year.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.