NBC Securities Inc. Decreases Holdings in On Holding AG (NYSE:ONON)

NBC Securities Inc. cut its holdings in shares of On Holding AG (NYSE:ONON) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,483 shares of the company’s stock after selling 2,069 shares during the quarter. NBC Securities Inc.’s holdings in ON were worth $1,027,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ONON. Ameritas Advisory Services LLC increased its stake in shares of ON by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock worth $924,000 after buying an additional 300 shares during the period. Artemis Investment Management LLP increased its stake in shares of 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 buying an additional 302 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of 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 buying an additional 325 shares during the period. Asset Dedication LLC increased its stake in shares of 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 buying an additional 327 shares during the period. Finally, Sage Capital Advisors llc increased its stake in shares of ON by 0.3% in the third quarter. Sage Capital Advisors llc now owns 99,859 shares of the company’s stock worth $5,008,000 after buying an additional 328 shares during the period. 33.11% of the stock is owned by hedge funds and other institutional investors.

ON Stock Performance

Shares of NYSE:ONON opened at $49.13 on Thursday. On Holding AG has a fifty-two week low of $24.15 and a fifty-two week high of $52.80. The business has a 50-day simple moving average of $46.80 and a two-hundred day simple moving average of $40.60. The firm has a market cap of $30.93 billion, a price-to-earnings ratio of 111.66 and a beta of 2.24.

ON (NYSE:ONON) last issued its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The business had revenue of $627.66 million during the quarter, compared to analysts’ expectations of $634.43 million. As a group, research analysts predict that On Holding AG will post 0.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Hsbc Global Res raised shares of ON to a “hold” rating in a research note on Thursday, September 5th. Evercore ISI upgraded shares of ON to an “overweight” rating and lifted their price target for the company from $43.00 to $47.00 in a report on Monday, August 12th. Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $21.00 to $55.00 in a report on Monday, September 23rd. Telsey Advisory Group restated an “outperform” rating and set a $47.00 target price on shares of ON in a report on Tuesday, August 13th. Finally, HSBC initiated coverage on shares of ON in a report on Thursday, September 5th. They set a “hold” rating and a $52.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.74.

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.