Beck Bode LLC Sells 16,382 Shares of On Holding AG (NYSE:ONON)

Beck Bode LLC decreased its position in On Holding AG (NYSE:ONON) by 55.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 13,338 shares of the company’s stock after selling 16,382 shares during the quarter. Beck Bode LLC’s holdings in ON were worth $518,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ONON. Rheos Capital Works Inc. bought a new stake in shares of ON during the 1st quarter worth approximately $10,614,000. Blair William & Co. IL bought a new stake in shares of ON during the 1st quarter worth approximately $502,000. Janney Montgomery Scott LLC raised its stake in shares of ON by 1,011.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock worth $3,686,000 after purchasing an additional 94,814 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of ON during the 1st quarter worth approximately $8,094,000. Finally, Wellington Management Group LLP bought a new stake in shares of ON during the 4th quarter worth approximately $34,420,000. Institutional investors own 33.11% of the company’s stock.

ON Stock Performance

ONON opened at $49.26 on Wednesday. The firm has a market cap of $31.02 billion, a P/E ratio of 111.96, a price-to-earnings-growth ratio of 1.37 and a beta of 2.24. On Holding AG has a 52-week low of $23.41 and a 52-week high of $50.12. The business’s fifty day moving average is $42.28 and its 200-day moving average is $38.27.

ON (NYSE:ONON) last released its earnings results 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). ON had a return on equity of 13.02% and a net margin of 7.42%. The company had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. On average, research analysts predict that On Holding AG will post 0.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ONON has been the topic of a number of analyst reports. Raymond James initiated coverage on ON in a research note on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price objective on the stock. Stifel Nicolaus increased their price target on ON from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Truist Financial increased their price target on ON from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Telsey Advisory Group restated an “outperform” rating and issued a $47.00 price target on shares of ON in a research note on Tuesday, August 13th. Finally, Hsbc Global Res upgraded ON to a “hold” rating in a research note on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.16.

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.