HB Wealth Management LLC Purchases Shares of 13,800 On Holding AG (NYSE:ONON)

HB Wealth Management LLC acquired a new position in shares of On Holding AG (NYSE:ONON) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,800 shares of the company’s stock, valued at approximately $488,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Management One Co. Ltd. raised its stake in ON by 20.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,145 shares of the company’s stock worth $60,000 after purchasing an additional 367 shares in the last quarter. Janney Capital Management LLC lifted its position in shares of ON by 3.1% during the 4th quarter. Janney Capital Management LLC now owns 14,893 shares of the company’s stock valued at $402,000 after acquiring an additional 443 shares during the period. Avitas Wealth Management LLC lifted its position in shares of ON by 2.7% during the 4th quarter. Avitas Wealth Management LLC now owns 22,943 shares of the company’s stock valued at $619,000 after acquiring an additional 602 shares during the period. Spire Wealth Management increased its position in shares of ON by 66.2% in the fourth quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock worth $45,000 after purchasing an additional 643 shares during the period. Finally, Compagnie Lombard Odier SCmA raised its stake in ON by 5.5% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 13,392 shares of the company’s stock valued at $361,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Trading Up 0.9 %

ON stock traded up $0.32 during trading on Friday, hitting $36.97. 2,025,920 shares of the company were exchanged, compared to its average volume of 5,241,438. The business’s 50 day moving average is $38.22 and its 200 day moving average is $33.37. On Holding AG has a 52 week low of $23.41 and a 52 week high of $44.30. The company has a market capitalization of $23.28 billion, a P/E ratio of 83.91, a PEG ratio of 1.08 and a beta of 2.22.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The company had revenue of $581.41 million for the quarter, compared to analyst estimates of $555.52 million. Equities analysts expect that On Holding AG will post 0.78 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ONON shares. Sanford C. Bernstein started coverage on shares of ON in a research note on Tuesday, June 11th. They set an “outperform” rating and a $50.00 price objective on the stock. TD Cowen boosted their price objective on shares of ON from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Needham & Company LLC raised their target price on ON from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Piper Sandler boosted their price target on ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Finally, UBS Group raised their target price on shares of ON from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.53.

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.