U S Global Investors Inc. Makes New $133,000 Investment in On Holding AG (NYSE:ONON)

U S Global Investors Inc. purchased a new position in shares of On Holding AG (NYSE:ONON) in the third quarter, Holdings Channel reports. The fund purchased 2,650 shares of the company’s stock, valued at approximately $133,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blair William & Co. IL bought a new stake in shares of ON in the 1st quarter worth $502,000. Janney Montgomery Scott LLC raised its stake in shares of ON by 1,011.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock worth $3,686,000 after buying an additional 94,814 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of ON in the 1st quarter worth $8,094,000. Wellington Management Group LLP bought a new stake in shares of ON in the 4th quarter worth $34,420,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of ON by 100.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after buying an additional 642,894 shares in the last quarter. Institutional investors own 33.11% of the company’s stock.

ON Price Performance

Shares of NYSE ONON traded down $0.44 during trading hours on Tuesday, hitting $47.87. 190,999 shares of the company’s stock were exchanged, compared to its average volume of 5,016,976. On Holding AG has a 1-year low of $24.15 and a 1-year high of $52.80. The stock has a market capitalization of $30.14 billion, a price-to-earnings ratio of 91.15 and a beta of 2.24. The company’s 50-day moving average price is $47.56 and its 200-day moving average price is $41.02.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The business had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. On average, research analysts expect that On Holding AG will post 0.76 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Raymond James assumed coverage on ON in a research note on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 price objective on the stock. Piper Sandler boosted their target price on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group boosted their target price on ON from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Bank of America raised ON from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. Finally, TD Cowen boosted their target price on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.74.

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.