Private Advisor Group LLC Purchases 7,154 Shares of On Holding AG (NYSE:ONON)

Private Advisor Group LLC boosted its position in On Holding AG (NYSE:ONON) by 48.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 21,875 shares of the company’s stock after acquiring an additional 7,154 shares during the period. Private Advisor Group LLC’s holdings in ON were worth $849,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. William Blair Investment Management LLC purchased a new position in ON during the 1st quarter valued at about $121,712,000. Norges Bank purchased a new position in ON during the 4th quarter valued at about $57,916,000. Westfield Capital Management Co. LP purchased a new position in ON during the 1st quarter valued at about $65,898,000. Wellington Management Group LLP purchased a new position in ON during the 4th quarter valued at about $34,420,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in ON during the 2nd quarter valued at about $43,456,000. 33.11% of the stock is currently owned by institutional investors.

ON Stock Performance

Shares of ONON stock opened at $49.89 on Tuesday. On Holding AG has a fifty-two week low of $23.41 and a fifty-two week high of $50.08. The stock has a 50 day moving average price of $42.04 and a two-hundred day moving average price of $38.16. The company has a market capitalization of $31.41 billion, a P/E ratio of 113.39, a PEG ratio of 1.37 and a beta of 2.24.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The company had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. As a group, equities analysts predict that On Holding AG will post 0.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ONON shares. Truist Financial lifted their target price on ON from $46.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Morgan Stanley boosted their price objective on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus boosted their price objective on ON from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Piper Sandler reissued an “overweight” rating and set a $52.00 price objective on shares of ON in a report on Friday, August 23rd. Finally, TD Cowen boosted their price objective on ON from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.16.

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.