MFA Wealth Advisors LLC Invests $50,000 in On Holding AG (NYSE:ONON)

MFA Wealth Advisors LLC bought a new position in shares of On Holding AG (NYSE:ONON) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 994 shares of the company’s stock, valued at approximately $50,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. raised its stake in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares in the last quarter. Quarry LP acquired a new position in ON in the second quarter valued at about $32,000. WD Rutherford LLC acquired a new position in ON in the first quarter valued at about $52,000. Asset Dedication LLC raised its stake in ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in ON in the third quarter valued at about $65,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $47.00 target price on shares of ON in a research report on Tuesday, August 13th. Truist Financial boosted their price target on ON from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley boosted their price target on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Piper Sandler boosted their price target on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Finally, HSBC started coverage on ON in a report on Thursday, September 5th. They set a “hold” rating and a $52.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.74.

ON Stock Down 2.7 %

Shares of ONON opened at $47.36 on Thursday. On Holding AG has a 12-month low of $24.15 and a 12-month high of $52.80. The business’s fifty day moving average is $47.84 and its 200 day moving average is $41.18. The stock has a market cap of $29.82 billion, a P/E ratio of 89.36 and a beta of 2.24.

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