Parsons Capital Management Inc. RI Invests $260,000 in On Holding AG (NYSE:ONON)

Parsons Capital Management Inc. RI purchased a new position in shares of On Holding AG (NYSE:ONON) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,350 shares of the company’s stock, valued at approximately $260,000.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of ON by 4.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock worth $46,076,000 after acquiring an additional 76,746 shares during the period. Liontrust Investment Partners LLP raised its holdings in shares of ON by 204.7% during the 3rd quarter. Liontrust Investment Partners LLP now owns 517,942 shares of the company’s stock worth $14,410,000 after acquiring an additional 347,942 shares during the period. Jennison Associates LLC raised its holdings in ON by 7.6% in the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock valued at $219,416,000 after buying an additional 554,513 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in ON by 127.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 131,585 shares of the company’s stock valued at $3,549,000 after buying an additional 73,839 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. raised its holdings in ON by 10.3% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 292,338 shares of the company’s stock valued at $8,133,000 after buying an additional 27,206 shares during the period. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Stock Up 2.7 %

ONON traded up $0.85 on Friday, reaching $32.79. The company’s stock had a trading volume of 2,088,132 shares, compared to its average volume of 3,387,165. On Holding AG has a fifty-two week low of $23.41 and a fifty-two week high of $37.08. The stock has a 50 day moving average of $33.19 and a two-hundred day moving average of $29.62. The company has a market capitalization of $20.65 billion, a price-to-earnings ratio of 121.44, a P/E/G ratio of 1.15 and a beta of 2.16.

ON (NYSE:ONON) last issued its quarterly earnings data 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 firm had revenue of $504.69 million during the quarter, compared to analysts’ expectations of $515.30 million. As a group, analysts anticipate that On Holding AG will post 0.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ONON has been the topic of several research analyst reports. Evercore ISI reduced their price objective on shares of ON from $40.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 13th. William Blair initiated coverage on shares of ON in a report on Tuesday, April 16th. They issued an “outperform” rating on the stock. TheStreet lowered shares of ON from a “c” rating to a “d+” rating in a report on Monday, March 18th. Piper Sandler boosted their price target 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. Finally, Truist Financial boosted their price target on shares of ON from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, ON currently has an average rating of “Moderate Buy” and a consensus target price 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.