On Holding AG (NYSE:ONON) Stake Cut by Calamos Advisors LLC

Calamos Advisors LLC cut its holdings in shares of On Holding AG (NYSE:ONON) by 14.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,389 shares of the company’s stock after selling 11,192 shares during the quarter. Calamos Advisors LLC’s holdings in ON were worth $1,844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Federated Hermes Inc. grew its position in ON by 54.2% during the fourth quarter. Federated Hermes Inc. now owns 555,000 shares of the company’s stock valued at $14,968,000 after purchasing an additional 195,000 shares in the last quarter. Rakuten Securities Inc. purchased a new position in shares of ON during the 4th quarter valued at $47,000. Cerity Partners LLC acquired a new position in shares of ON in the fourth quarter worth $6,520,000. Allspring Global Investments Holdings LLC raised its holdings in shares of ON by 4.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock worth $46,076,000 after acquiring an additional 76,746 shares in the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new stake in ON during the fourth quarter valued at $360,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Price Performance

NYSE:ONON opened at $31.58 on Monday. On Holding AG has a one year low of $23.41 and a one year high of $37.08. The company has a fifty day moving average price of $33.08 and a 200 day moving average price of $29.39. The stock has a market cap of $19.88 billion, a P/E ratio of 116.96, a PEG ratio of 1.10 and a beta of 2.16.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). ON had a return on equity of 6.85% and a net margin of 4.04%. The firm had revenue of $504.69 million during the quarter, compared to the consensus estimate of $515.30 million. As a group, equities research analysts anticipate that On Holding AG will post 0.65 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on ONON shares. William Blair began coverage on ON in a research report on Tuesday, April 16th. They issued an “outperform” rating on the stock. Barclays assumed coverage on ON in a report on Monday, April 1st. They issued an “overweight” rating and a $38.00 price objective on the stock. Redburn Atlantic reiterated a “neutral” rating and issued a $34.00 target price on shares of ON in a research note on Thursday, March 7th. Stifel Nicolaus restated a “buy” rating and set a $40.00 price target on shares of ON in a research note on Tuesday, March 5th. Finally, Evercore ISI reduced their price objective on shares of ON from $40.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, March 13th. Four equities 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.13.

ON 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.