Nicholas Investment Partners LP Purchases 5,696 Shares of On Holding AG (NYSE:ONON)

Nicholas Investment Partners LP raised its position in shares of On Holding AG (NYSE:ONON) by 44.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,403 shares of the company’s stock after buying an additional 5,696 shares during the quarter. Nicholas Investment Partners LP’s holdings in ON were worth $607,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CWM LLC acquired a new position in ON during the 2nd quarter valued at about $33,000. Belpointe Asset Management LLC increased its holdings in shares of ON by 75.3% during the first quarter. Belpointe Asset Management LLC now owns 1,057 shares of the company’s stock valued at $33,000 after acquiring an additional 454 shares in the last quarter. US Bancorp DE raised its position in shares of ON by 32.7% in the 1st quarter. US Bancorp DE now owns 1,417 shares of the company’s stock valued at $44,000 after purchasing an additional 349 shares during the last quarter. National Bank of Canada FI boosted its stake in ON by 646.5% in the 2nd quarter. National Bank of Canada FI now owns 1,493 shares of the company’s stock worth $49,000 after purchasing an additional 1,293 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in ON by 70.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 5,009 shares of the company’s stock worth $85,000 after purchasing an additional 2,071 shares during the last quarter. 18.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ONON. KeyCorp started coverage on shares of ON in a research note on Tuesday, July 25th. They set an “overweight” rating and a $42.00 price objective for the company. Robert W. Baird raised ON from a “neutral” rating to an “outperform” rating and set a $33.00 price objective on the stock in a report on Monday, October 9th. Redburn Atlantic initiated coverage on ON in a report on Tuesday, October 24th. They set an “overweight” rating and a $33.00 target price for the company. Williams Trading upgraded shares of ON from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Finally, BTIG Research initiated coverage on shares of ON in a research report on Monday, July 31st. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.02.

ON Stock Performance

Shares of ONON stock traded down $0.68 on Thursday, reaching $27.09. 889,051 shares of the company were exchanged, compared to its average volume of 4,290,273. On Holding AG has a 1 year low of $15.91 and a 1 year high of $37.08. The business has a 50-day moving average price of $26.88 and a 200 day moving average price of $29.78. The company has a market cap of $17.00 billion, a price-to-earnings ratio of 198.36, a P/E/G ratio of 1.71 and a beta of 2.23.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, November 14th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $480.50 million during the quarter, compared to analyst estimates of $453.31 million. ON had a return on equity of 3.98% and a net margin of 2.59%. ON’s quarterly revenue was up 46.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 EPS. As a group, equities analysts anticipate that On Holding AG will post 0.4 earnings per share for the current year.

About ON

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.