Sigma Planning Corp Acquires New Stake in On Holding AG (NYSE:ONON)

Sigma Planning Corp acquired a new stake in On Holding AG (NYSE:ONON) during the third quarter, according to its most recent filing with the SEC. The firm acquired 27,871 shares of the company’s stock, valued at approximately $1,398,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after buying an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the last quarter. Quarry LP purchased a new position in ON in the 2nd quarter valued at $32,000. MFA Wealth Advisors LLC purchased a new position in ON in the 3rd quarter valued at $50,000. Finally, nVerses Capital LLC purchased a new position in ON in the 3rd quarter valued at $65,000. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ONON has been the topic of several research analyst reports. Raymond James initiated coverage on shares of ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 target price on the stock. HSBC initiated coverage on shares of ON in a research report on Thursday, September 5th. They set a “hold” rating and a $52.00 target price on the stock. Piper Sandler boosted their target price on shares of ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Truist Financial boosted their target price on shares of ON from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, TD Cowen boosted their target price on shares of ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, ON currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.37.

ON Trading Down 0.2 %

Shares of ONON stock opened at $52.63 on Wednesday. The firm has a 50-day moving average price of $49.10 and a 200 day moving average price of $42.90. On Holding AG has a twelve month low of $24.15 and a twelve month high of $54.00. The company has a market capitalization of $33.14 billion, a price-to-earnings ratio of 99.30 and a beta of 2.25.

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 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 analysts’ expectations of $634.43 million. As a group, research analysts predict that On Holding AG will post 0.75 earnings per share for the current year.

About ON

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.