Stevens Capital Management LP Purchases Shares of 8,368 On Holding AG (NYSE:ONON)

Stevens Capital Management LP purchased a new stake in shares of On Holding AG (NYSE:ONON) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 8,368 shares of the company’s stock, valued at approximately $226,000.

Several other institutional investors have also added to or reduced their stakes in the company. Duality Advisers LP purchased a new stake in ON during the 4th quarter valued at $1,159,000. APEIRON CAPITAL Ltd increased its stake in shares of ON by 4.5% in the 4th quarter. APEIRON CAPITAL Ltd now owns 1,085,922 shares of the company’s stock worth $29,287,000 after acquiring an additional 47,229 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new position in shares of ON in the 4th quarter worth about $245,000. J.W. Cole Advisors Inc. bought a new position in shares of ON in the 4th quarter worth about $360,000. Finally, Federated Hermes Inc. increased its stake in shares of ON by 54.2% in the 4th quarter. Federated Hermes Inc. now owns 555,000 shares of the company’s stock worth $14,968,000 after acquiring an additional 195,000 shares in the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ONON shares. Redburn Atlantic restated a “neutral” rating and set a $34.00 price objective on shares of ON in a research note on Thursday, March 7th. Barclays initiated coverage on shares of ON in a report on Monday, April 1st. They set an “overweight” rating and a $38.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $32.00 price target on shares of ON in a report on Monday. Truist Financial raised their price target on shares of ON from $29.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, March 13th. Finally, TheStreet downgraded shares of ON from a “c” rating to a “d+” rating in a report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, ON currently has an average rating of “Moderate Buy” and a consensus target price of $37.13.

ON Stock Performance

Shares of ON stock traded up $0.85 on Friday, hitting $32.79. 2,087,756 shares of the company traded hands, compared to its average volume of 5,177,378. The stock has a market capitalization of $20.65 billion, a P/E ratio of 121.44, a price-to-earnings-growth ratio of 1.13 and a beta of 2.16. On Holding AG has a 52 week low of $23.41 and a 52 week high of $37.08. The business has a 50-day simple moving average of $33.17 and a 200 day simple moving average of $29.54.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.18). ON had a return on equity of 6.85% and a net margin of 4.04%. The business had revenue of $504.69 million during the quarter, compared to the consensus estimate of $515.30 million. Research analysts expect that On Holding AG will post 0.65 earnings per share for the current year.

ON Company 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.