Arnhold LLC Buys 22,500 Shares of On Holding AG (NYSE:ONON)

Arnhold LLC increased its stake in On Holding AG (NYSE:ONON) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 486,543 shares of the company’s stock after buying an additional 22,500 shares during the period. ON accounts for 1.5% of Arnhold LLC’s portfolio, making the stock its 26th largest position. Arnhold LLC owned approximately 0.08% of ON worth $13,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ONON. Jennison Associates LLC increased its stake in ON by 7.6% during the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock valued at $219,416,000 after purchasing an additional 554,513 shares in the last quarter. American Century Companies Inc. raised its holdings in ON by 109.3% in 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 last quarter. Bamco Inc. NY lifted its position in ON by 243.0% in the 3rd quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock valued at $84,239,000 after acquiring an additional 2,145,318 shares in the last quarter. Invesco Ltd. boosted its stake in ON by 2.7% during the 3rd quarter. Invesco Ltd. now owns 2,908,297 shares of the company’s stock valued at $80,909,000 after purchasing an additional 76,518 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of ON in the third quarter worth $59,539,000. Institutional investors own 33.11% of the company’s stock.

ON Stock Performance

ON stock traded down $0.86 during mid-day trading on Tuesday, hitting $31.75. The company’s stock had a trading volume of 2,746,870 shares, compared to its average volume of 5,118,213. On Holding AG has a one year low of $23.41 and a one year high of $37.08. The stock has a market cap of $19.99 billion, a PE ratio of 117.59, a P/E/G ratio of 1.15 and a beta of 2.16. The company has a 50 day moving average of $33.21 and a 200-day moving average of $29.72.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $515.30 million. On average, equities research analysts forecast that On Holding AG will post 0.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $32.00 price objective on shares of ON in a report on Monday, April 22nd. William Blair started coverage on shares of ON in a research report on Tuesday, April 16th. They set an “outperform” rating for the company. Stifel Nicolaus reiterated a “buy” rating and set a $40.00 target price on shares of ON in a research report on Tuesday, March 5th. Piper Sandler lifted their price objective on ON from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Finally, Redburn Atlantic restated a “neutral” rating and set a $34.00 target price on shares of ON in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.13.

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.