On Holding AG (NYSE:ONON) Shares Acquired by Arnhold LLC

Arnhold LLC boosted its stake in On Holding AG (NYSE:ONON) by 4.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 486,543 shares of the company’s stock after acquiring an additional 22,500 shares during the period. ON comprises approximately 1.5% of Arnhold LLC’s investment portfolio, making the stock its 26th largest position. Arnhold LLC’s holdings in ON were worth $13,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the stock. Spire Wealth Management boosted its position in ON by 91.0% in the 3rd quarter. Spire Wealth Management now owns 972 shares of the company’s stock valued at $27,000 after buying an additional 463 shares during the period. Asset Dedication LLC purchased a new position in shares of ON in the 3rd quarter valued at about $35,000. Signaturefd LLC grew its position in shares of ON by 816.7% during the third quarter. Signaturefd LLC now owns 1,375 shares of the company’s stock worth $38,000 after buying an additional 1,225 shares in the last quarter. 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 worth $42,000 after buying an additional 592 shares during the period. Finally, Pittenger & Anderson Inc. raised its holdings in 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. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $40.00 price objective on shares of ON in a research report on Tuesday, March 5th. Truist Financial increased their price objective on ON from $29.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, March 13th. Telsey Advisory Group restated an “outperform” rating and set a $37.00 target price on shares of ON in a research note on Wednesday, April 24th. William Blair began coverage on ON in a research note on Tuesday, April 16th. They set an “outperform” rating on the stock. Finally, Barclays began coverage on shares of ON in a report on Monday, April 1st. They issued an “overweight” rating and a $38.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.13.

ON Stock Down 2.6 %

ONON stock traded down $0.86 during midday trading on Tuesday, reaching $31.75. The company had a trading volume of 2,746,870 shares, compared to its average volume of 5,118,213. The firm has a market capitalization of $19.99 billion, a PE ratio of 117.59, a P/E/G ratio of 1.15 and a beta of 2.16. The stock has a 50 day moving average price of $33.21 and a 200 day moving average price of $29.72. On Holding AG has a fifty-two week low of $23.41 and a fifty-two week high of $37.08.

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

ON Company 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.