Wealthcare Advisory Partners LLC Takes $694,000 Position in On Holding AG (NYSE:ONON)

Wealthcare Advisory Partners LLC bought a new position in shares of On Holding AG (NYSE:ONON) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,725 shares of the company’s stock, valued at approximately $694,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of ON by 39.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 12,894 shares of the company’s stock worth $359,000 after purchasing an additional 3,676 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of ON by 84.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 31,350 shares of the company’s stock worth $872,000 after buying an additional 14,320 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of ON in the third quarter valued at $8,063,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ON by 55.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,583 shares of the company’s stock valued at $740,000 after buying an additional 9,444 shares during the period. Finally, Park Avenue Securities LLC acquired a new position in ON during the 3rd quarter worth about $262,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Stock Down 3.0 %

Shares of NYSE:ONON opened at $32.98 on Thursday. The company has a market cap of $20.77 billion, a price-to-earnings ratio of 122.15, a PEG ratio of 1.16 and a beta of 2.17. On Holding AG has a fifty-two week low of $23.41 and a fifty-two week high of $37.08. The firm’s 50-day simple moving average is $33.23 and its 200-day simple moving average is $30.07.

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). The business had revenue of $504.69 million during the quarter, compared to analysts’ expectations of $515.30 million. ON had a net margin of 4.04% and a return on equity of 6.85%. On average, research analysts forecast that On Holding AG will post 0.65 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of ON from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday. Redburn Atlantic reissued a “neutral” rating and set a $34.00 target price on shares of ON in a research note on Thursday, March 7th. William Blair started coverage on ON in a research report on Tuesday, April 16th. They issued an “outperform” rating on the stock. Evercore ISI lowered their price objective on ON from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, March 13th. Finally, TheStreet lowered 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 given a buy rating to the company’s stock. Based on data from MarketBeat, ON presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.53.

About ON

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.