On Holding AG (NYSE:ONON) Stake Boosted by Stephens Inc. AR

Stephens Inc. AR raised its stake in On Holding AG (NYSE:ONONGet Rating) by 101.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 14,800 shares of the company’s stock after buying an additional 7,450 shares during the quarter. Stephens Inc. AR’s holdings in ON were worth $374,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bond Capital Management LP bought a new stake in ON in the first quarter valued at $142,069,000. Capital Research Global Investors lifted its stake in ON by 223.1% in the fourth quarter. Capital Research Global Investors now owns 4,038,479 shares of the company’s stock valued at $152,695,000 after buying an additional 2,788,479 shares during the last quarter. Select Equity Group L.P. bought a new stake in shares of ON during the fourth quarter valued at about $100,520,000. Marshall Wace LLP bought a new stake in shares of ON during the fourth quarter valued at about $40,846,000. Finally, American Century Companies Inc. raised its stake in shares of ON by 4,681.8% during the fourth quarter. American Century Companies Inc. now owns 894,923 shares of the company’s stock valued at $33,837,000 after purchasing an additional 876,208 shares in the last quarter. 18.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wedbush restated a “neutral” rating on shares of ON in a research note on Thursday, April 28th. Bank of America assumed coverage on shares of ON in a research note on Monday, May 9th. They set an “underperform” rating and a $16.00 price objective on the stock. Robert W. Baird cut their price objective on shares of ON from $46.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 18th. Stifel Nicolaus cut their price objective on shares of ON from $31.00 to $28.00 in a research note on Wednesday, July 20th. Finally, Piper Sandler reaffirmed an “initiates” rating on shares of ON in a report on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.67.

ON Price Performance

Shares of ONON opened at $22.63 on Friday. The business’s 50-day moving average price is $19.24 and its 200 day moving average price is $22.65. On Holding AG has a 1-year low of $16.16 and a 1-year high of $55.87.

ON (NYSE:ONONGet Rating) last issued its quarterly earnings results on Tuesday, May 17th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.18. The company had revenue of $235.70 million during the quarter, compared to analysts’ expectations of $170.83 million. ON’s quarterly revenue was up 67.9% on a year-over-year basis. On average, equities research analysts anticipate that On Holding AG will post 0.12 earnings per share for the current year.

ON Profile

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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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Institutional Ownership by Quarter for ON (NYSE:ONON)

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