Victory Capital Management Inc. Has $26.36 Million Holdings in On Holding AG (NYSE:ONON)

Victory Capital Management Inc. grew its position in On Holding AG (NYSE:ONON) by 22.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 977,241 shares of the company’s stock after purchasing an additional 177,280 shares during the period. Victory Capital Management Inc.’s holdings in ON were worth $26,356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in ONON. American Century Companies Inc. boosted its stake in ON by 109.3% in the 3rd quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock valued at $182,688,000 after purchasing an additional 3,428,794 shares during the period. Bamco Inc. NY grew its stake in shares of ON by 243.0% in the third quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock valued at $84,239,000 after acquiring an additional 2,145,318 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new position in ON during the third quarter worth about $59,539,000. Rokos Capital Management LLP raised its stake in ON by 642.3% in the 3rd quarter. Rokos Capital Management LLP now owns 2,075,457 shares of the company’s stock worth $58,268,000 after purchasing an additional 1,795,849 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in ON in the 3rd quarter valued at about $18,126,000. Institutional investors own 33.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ONON. Piper Sandler lifted their price target on shares of ON from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Morgan Stanley lifted their price objective on ON from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Monday. Evercore ISI reduced their target price on ON from $40.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 13th. Redburn Atlantic reaffirmed a “neutral” rating and set a $34.00 price objective on shares of ON in a research report on Thursday, March 7th. Finally, TheStreet downgraded shares of ON from a “c” rating to a “d+” rating in a research note on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus target price of $37.53.

ON Price Performance

ONON stock opened at $34.02 on Wednesday. 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 $21.42 billion, a price-to-earnings ratio of 126.00, a P/E/G ratio of 1.16 and a beta of 2.17. The company has a 50 day simple moving average of $33.26 and a 200 day simple moving average of $30.05.

ON (NYSE:ONON) last announced its quarterly earnings results 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). ON had a return on equity of 6.85% and a net margin of 4.04%. The company had revenue of $504.69 million for the quarter, compared to analyst estimates of $515.30 million. On average, equities research analysts anticipate that On Holding AG will post 0.65 EPS for the current fiscal year.

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.