Seven Eight Capital LP Buys Shares of 53,197 On Holding AG (NYSE:ONON)

Seven Eight Capital LP bought a new stake in On Holding AG (NYSE:ONON) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,197 shares of the company’s stock, valued at approximately $1,651,000.

Other institutional investors also recently bought and sold shares of the company. DE Burlo Group Inc. purchased a new stake in ON in the first quarter worth about $6,740,000. XTX Topco Ltd purchased a new stake in ON in the first quarter worth about $393,000. 1832 Asset Management L.P. increased its position in ON by 1,022.9% in the first quarter. 1832 Asset Management L.P. now owns 2,542,200 shares of the company’s stock worth $78,884,000 after buying an additional 2,315,800 shares in the last quarter. Eisler Capital US LLC increased its position in ON by 59.6% in the first quarter. Eisler Capital US LLC now owns 200,000 shares of the company’s stock worth $6,206,000 after buying an additional 74,700 shares in the last quarter. Finally, Stifel Financial Corp grew its position in shares of ON by 908.3% during the first quarter. Stifel Financial Corp now owns 167,294 shares of the company’s stock worth $5,191,000 after purchasing an additional 150,703 shares in the last quarter. Institutional investors own 18.64% of the company’s stock.

ON Stock Up 0.9 %

ONON stock opened at $29.59 on Friday. On Holding AG has a twelve month low of $15.44 and a twelve month high of $37.08. The stock has a market capitalization of $18.57 billion, a price-to-earnings ratio of 211.36, a price-to-earnings-growth ratio of 1.69 and a beta of 2.27. The firm’s fifty day simple moving average is $32.54 and its two-hundred day simple moving average is $29.91.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 15th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $444.30 million during the quarter, compared to the consensus estimate of $418.09 million. ON had a return on equity of 3.98% and a net margin of 2.59%. The company’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 earnings per share. As a group, equities research analysts expect that On Holding AG will post 0.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on ONON. TD Cowen lowered their price target on ON from $38.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, August 16th. Piper Sandler boosted their target price on shares of ON from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, July 13th. Stifel Nicolaus boosted their target price on shares of ON to $36.00 in a report on Tuesday, May 16th. KeyCorp assumed coverage on shares of ON in a report on Tuesday, July 25th. They issued an “overweight” rating and a $42.00 target price on the stock. Finally, Williams Trading downgraded shares of ON from a “hold” rating to a “sell” rating in a report on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.95.

ON Profile

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. The company was founded in 2010 and is headquartered in Zurich, Switzerland.