SG Americas Securities LLC raised its position in On Holding AG (NYSE:ONON – Get Rating) by 1,044.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 48,840 shares of the company’s stock after acquiring an additional 44,574 shares during the quarter. SG Americas Securities LLC’s holdings in ON were worth $1,233,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Bond Capital Management LP acquired a new position in shares of ON during the 1st quarter worth approximately $142,069,000. Capital Research Global Investors boosted its holdings in shares of ON by 223.1% during the 4th quarter. Capital Research Global Investors now owns 4,038,479 shares of the company’s stock worth $152,695,000 after purchasing an additional 2,788,479 shares during the last quarter. Select Equity Group L.P. acquired a new position in shares of ON during the 4th quarter worth approximately $100,520,000. Allspring Global Investments Holdings LLC acquired a new position in shares of ON during the 4th quarter worth approximately $42,314,000. Finally, Marshall Wace LLP acquired a new position in shares of ON during the 4th quarter worth approximately $40,846,000. 18.45% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have recently commented on ONON shares. Robert W. Baird reduced their price target on shares of ON from $46.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 18th. Wedbush reaffirmed a “neutral” rating on shares of ON in a research report on Thursday, April 28th. UBS Group reduced their price target on shares of ON from $39.00 to $25.00 in a research report on Friday, July 15th. Berenberg Bank started coverage on shares of ON in a research report on Tuesday, April 19th. They set a “buy” rating and a $31.00 price target on the stock. Finally, OTR Global started coverage on shares of ON in a research report on Tuesday. They set a “positive” rating on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.67.
ON Price Performance
ON (NYSE:ONON – Get Rating) last announced its earnings results on Tuesday, May 17th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.18. The firm had revenue of $235.70 million during the quarter, compared to analysts’ expectations of $170.83 million. ON’s revenue for the quarter was up 67.9% compared to the same quarter last year. Sell-side analysts expect that On Holding AG will post 0.09 EPS for the current fiscal year.
On Holding AG develops and distributes sports products worldwide. It offers athletic footwear, apparel, and accessories. The company offers its products through independent retailers and distributors, online, and stores. On Holding AG was founded in 2010 and is headquartered in Zurich, Switzerland.
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