Beck Bode LLC Has $931,000 Stock Holdings in On Holding AG (NYSE:ONON)

Beck Bode LLC reduced its stake in On Holding AG (NYSE:ONON) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,507 shares of the company’s stock after selling 1,726 shares during the quarter. Beck Bode LLC’s holdings in ON were worth $931,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. American Century Companies Inc. grew its holdings in ON by 109.3% during the 3rd quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock worth $182,688,000 after acquiring an additional 3,428,794 shares during the period. Bamco Inc. NY increased its holdings in ON by 243.0% in the third quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock worth $84,239,000 after purchasing an additional 2,145,318 shares in the last quarter. Jericho Capital Asset Management L.P. acquired a new position in ON in the third quarter valued at approximately $59,539,000. Rokos Capital Management LLP boosted its holdings in shares of ON by 642.3% during the 3rd quarter. Rokos Capital Management LLP now owns 2,075,457 shares of the company’s stock worth $58,268,000 after buying an additional 1,795,849 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of ON during the 3rd quarter worth approximately $18,126,000. 33.11% of the stock is currently owned by institutional investors.

ON Stock Down 0.7 %

ON stock traded down $0.21 during mid-day trading on Wednesday, reaching $31.54. 288,522 shares of the company’s stock were exchanged, compared to its average volume of 5,059,815. On Holding AG has a one year low of $23.41 and a one year high of $37.08. The firm has a market capitalization of $19.86 billion, a PE ratio of 117.59, a P/E/G ratio of 1.14 and a beta of 2.16. The business’s fifty day simple moving average is $33.21 and its 200 day simple moving average is $29.77.

ON (NYSE:ONON) last released its 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). ON had a net margin of 4.04% and a return on equity of 6.85%. The company had revenue of $504.69 million for the quarter, compared to the consensus estimate of $515.30 million. On average, sell-side analysts forecast that On Holding AG will post 0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ONON shares. Piper Sandler increased their target price on shares of ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Evercore ISI cut their price objective on shares of ON from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 13th. Barclays assumed coverage on ON in a research note on Monday, April 1st. They set an “overweight” rating and a $38.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and issued a $32.00 price objective on shares of ON in a research note on Monday, April 22nd. Finally, TheStreet lowered ON from a “c” rating to a “d+” rating in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, ON presently has an average rating of “Moderate Buy” and an average target price of $37.13.

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.