PFS Investments Inc. bought a new stake in On Holding AG (NYSE:ONON – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 23,351 shares of the company’s stock, valued at approximately $883,000.
Other hedge funds also recently modified their holdings of the company. Point Break Capital Management LLC acquired a new position in ON in the third quarter valued at approximately $1,727,778,000. Luxor Capital Group LP bought a new position in ON during the 3rd quarter worth $183,915,000. Wellington Management Group LLP acquired a new stake in ON in the third quarter worth $125,194,000. BlackRock Inc. acquired a new position in shares of ON during the third quarter valued at $66,382,000. Finally, Morgan Stanley bought a new position in shares of ON during the third quarter worth about $44,751,000. 18.45% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on ONON. Zacks Investment Research upgraded ON from a “sell” rating to a “hold” rating in a research report on Saturday. Telsey Advisory Group decreased their price target on ON from $53.00 to $39.00 and set an “outperform” rating for the company in a research note on Wednesday, March 16th. UBS Group cut their price objective on ON from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, March 21st. Berenberg Bank assumed coverage on ON in a report on Tuesday, April 19th. They set a “buy” rating and a $31.00 target price on the stock. Finally, Robert W. Baird decreased their price target on shares of ON from $46.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.33.
ON (NYSE:ONON – Get Rating) last released its quarterly earnings data on Tuesday, May 17th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.18. The firm had revenue of $235.70 million for the quarter, compared to analyst estimates of $170.83 million. ON’s revenue for the quarter was up 67.9% compared to the same quarter last year. As a group, equities analysts expect that On Holding AG will post 0.01 earnings per share for the current fiscal year.
ON Company Profile (Get Rating)
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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