9,100 Shares in On Holding AG (NYSE:ONON) Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS acquired a new position in On Holding AG (NYSE:ONON) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,100 shares of the company’s stock, valued at approximately $245,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Durable Capital Partners LP grew its position in ON by 114.5% in the first quarter. Durable Capital Partners LP now owns 11,028,390 shares of the company’s stock worth $278,357,000 after acquiring an additional 5,887,034 shares during the period. Macquarie Group Ltd. grew its position in ON by 25.2% in the second quarter. Macquarie Group Ltd. now owns 8,289,119 shares of the company’s stock worth $146,635,000 after acquiring an additional 1,670,574 shares during the period. Jennison Associates LLC grew its position in ON by 7.6% in the third quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock worth $219,416,000 after acquiring an additional 554,513 shares during the period. American Century Companies Inc. grew its position in ON by 109.3% in the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock worth $182,688,000 after acquiring an additional 3,428,794 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of ON by 4.8% during the first quarter. Capital Research Global Investors now owns 4,233,780 shares of the company’s stock worth $106,861,000 after buying an additional 195,301 shares during the period. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

ON Price Performance

ON stock opened at $31.58 on Monday. On Holding AG has a 1-year low of $23.41 and a 1-year high of $37.08. The stock has a market cap of $19.88 billion, a PE ratio of 116.96, a P/E/G ratio of 1.10 and a beta of 2.16. The stock’s fifty day moving average is $33.08 and its two-hundred day moving average is $29.39.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on ONON. TheStreet lowered ON from a “c” rating to a “d+” rating in a research report on Monday, March 18th. Morgan Stanley restated an “overweight” rating and set a $32.00 price target on shares of ON in a research report on Thursday, April 11th. Redburn Atlantic restated a “neutral” rating and set a $34.00 price target on shares of ON in a research report on Thursday, March 7th. Piper Sandler raised their price target on ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Finally, Stifel Nicolaus restated a “buy” rating and set a $40.00 price target on shares of ON in a research report on Tuesday, March 5th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.13.

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.