On Holding AG (NYSE:ONON) Stock Position Lifted by GSA Capital Partners LLP

GSA Capital Partners LLP boosted its stake in shares of On Holding AG (NYSE:ONON) by 19.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,351 shares of the company’s stock after purchasing an additional 6,043 shares during the period. GSA Capital Partners LLP’s holdings in ON were worth $1,823,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC grew its position in ON by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock valued at $924,000 after purchasing an additional 300 shares in the last quarter. Capital Advisors Inc. OK grew its position in ON by 5.1% during the third quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock valued at $310,000 after purchasing an additional 301 shares in the last quarter. Artemis Investment Management LLP grew its position in 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 in the last quarter. Crossmark Global Holdings Inc. grew its position in 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 in the last quarter. Finally, Asset Dedication LLC grew its position in 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 in the last quarter. 33.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ONON. Raymond James began coverage on shares of ON in a research report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 target price for the company. UBS Group boosted their target price on shares of ON from $55.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Evercore ISI raised shares of ON to an “overweight” rating and boosted their target price for the stock from $43.00 to $47.00 in a research report on Monday, August 12th. Stifel Nicolaus boosted their target price on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, TD Cowen boosted 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. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $50.37.

ON Price Performance

NYSE:ONON opened at $52.63 on Wednesday. The stock has a market cap of $33.14 billion, a P/E ratio of 99.30 and a beta of 2.25. On Holding AG has a one year low of $24.15 and a one year high of $54.00. The company has a fifty day moving average price of $49.10 and a 200 day moving average price of $42.90.

ON (NYSE:ONON) last announced its quarterly 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). The business had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. As a group, equities research analysts anticipate that On Holding AG will post 0.75 EPS for the current year.

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.