Aigen Investment Management LP Grows Stock Position in On Holding AG (NYSE:ONON)

Aigen Investment Management LP grew its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 552.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 103,741 shares of the company's stock after purchasing an additional 87,852 shares during the period. ON makes up approximately 1.0% of Aigen Investment Management LP's holdings, making the stock its 2nd largest position. Aigen Investment Management LP's holdings in ON were worth $5,203,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC raised its position in shares of ON by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company's stock valued at $924,000 after buying an additional 300 shares in the last quarter. Capital Advisors Inc. OK boosted its stake in shares of ON by 5.1% during the third quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company's stock valued at $310,000 after purchasing an additional 301 shares in the last quarter. Artemis Investment Management LLP lifted its position in ON by 1.9% during the second quarter. Artemis Investment Management LLP now owns 16,410 shares of the company's stock valued at $637,000 after acquiring an additional 302 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in ON by 3.2% during the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company's stock valued at $404,000 after acquiring an additional 325 shares during the last quarter. Finally, Asset Dedication LLC lifted its position in ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company's stock valued at $62,000 after acquiring an additional 327 shares during the last quarter. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

ON Trading Down 0.2 %

Shares of NYSE:ONON traded down $0.08 during trading on Tuesday, hitting $52.63. 10,948,333 shares of the company's stock traded hands, compared to its average volume of 4,990,612. On Holding AG has a 52 week low of $24.15 and a 52 week high of $54.00. The company has a market cap of $33.14 billion, a price-to-earnings ratio of 97.68 and a beta of 2.25. The company has a 50-day moving average price of $48.97 and a 200-day moving average price of $42.76.

ON (NYSE:ONON - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. On average, analysts predict that On Holding AG will post 0.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. KeyCorp raised their price target on shares of ON from $47.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, September 26th. UBS Group lifted their target price on shares of ON from $55.00 to $61.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Hsbc Global Res upgraded shares of ON to a "hold" rating in a research report on Thursday, September 5th. Barclays raised their price target on shares of ON from $40.00 to $47.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 14th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $53.00 target price on shares of ON in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, ON currently has a consensus rating of "Moderate Buy" and an average price target of $50.37.

About ON

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.