Orion Capital Management LLC Boosts Stock Holdings in On Holding AG (NYSE:ONON)

Orion Capital Management LLC grew its position in shares of On Holding AG (NYSE:ONON) by 1,100.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,200 shares of the company’s stock after purchasing an additional 1,100 shares during the quarter. Orion Capital Management LLC’s holdings in ON were worth $32,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its stake in ON by 20.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,145 shares of the company’s stock valued at $60,000 after acquiring an additional 367 shares during the period. Janney Capital Management LLC grew its stake in ON by 2.7% in the 3rd quarter. Janney Capital Management LLC now owns 14,450 shares of the company’s stock valued at $402,000 after acquiring an additional 384 shares during the period. Pittenger & Anderson Inc. grew its stake in ON by 34.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 1,550 shares of the company’s stock valued at $43,000 after acquiring an additional 400 shares during the period. Spire Wealth Management grew its stake 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 acquiring an additional 463 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in ON by 63.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,521 shares of the company’s stock worth $42,000 after purchasing an additional 592 shares during the last quarter. 33.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ONON has been the topic of several recent research reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $37.00 target price on shares of ON in a research note on Wednesday, April 24th. TheStreet cut shares of ON from a “c” rating to a “d+” rating in a research note on Monday, March 18th. Truist Financial lifted their target price on shares of ON from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, March 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $32.00 target price on shares of ON in a research note on Monday, April 22nd. Finally, Barclays began coverage on shares of ON in a research report on Monday, April 1st. They set an “overweight” rating and a $38.00 price target on the stock. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.13.

ON Price Performance

Shares of NYSE:ONON opened at $31.29 on Thursday. On Holding AG has a 1 year low of $23.41 and a 1 year high of $37.08. The firm’s 50-day moving average is $33.20 and its two-hundred day moving average is $29.79. The firm has a market capitalization of $19.70 billion, a PE ratio of 115.89, a price-to-earnings-growth ratio of 1.11 and a beta of 2.17.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.18). The business had revenue of $504.69 million during the quarter, compared to analysts’ expectations of $515.30 million. ON had a return on equity of 6.85% and a net margin of 4.04%. Analysts expect that On Holding AG will post 0.65 EPS for the current fiscal 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.