International Assets Investment Management LLC Makes New $699,000 Investment in On Holding AG (NYSE:ONON)

International Assets Investment Management LLC acquired a new position in shares of On Holding AG (NYSE:ONON - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,942 shares of the company's stock, valued at approximately $699,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Private Advisor Group LLC bought a new position in shares of ON in the 1st quarter valued at about $521,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ON in the 1st quarter valued at about $958,000. Janney Montgomery Scott LLC boosted its stake in shares of ON by 1,011.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company's stock valued at $3,686,000 after purchasing an additional 94,814 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of ON by 486.2% in the 1st quarter. SG Americas Securities LLC now owns 169,806 shares of the company's stock valued at $6,008,000 after purchasing an additional 140,838 shares during the last quarter. Finally, Obermeyer Wood Investment Counsel Lllp bought a new position in shares of ON in the 1st quarter valued at about $230,000. Institutional investors own 33.11% of the company's stock.

ON Stock Down 0.6 %

Shares of NYSE:ONON traded down $0.29 during midday trading on Wednesday, hitting $47.59. The stock had a trading volume of 3,518,038 shares, compared to its average volume of 4,938,537. On Holding AG has a 12 month low of $24.15 and a 12 month high of $52.80. The business's 50-day simple moving average is $48.69 and its 200-day simple moving average is $42.28. The company has a market cap of $29.97 billion, a P/E ratio of 89.79 and a beta of 2.25.

ON (NYSE:ONON - Get Free Report) last released its 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). ON had a net margin of 7.42% and a return on equity of 13.02%. The firm had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. As a group, equities analysts predict that On Holding AG will post 0.76 earnings per share for the current year.

Analyst Ratings Changes

ONON has been the topic of several recent research reports. Truist Financial raised their target price on shares of ON from $51.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Barclays increased their price target on shares of ON from $40.00 to $47.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. Hsbc Global Res upgraded shares of ON to a "hold" rating in a research report on Thursday, September 5th. Morgan Stanley increased their price target on shares of ON from $44.00 to $46.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. Finally, Piper Sandler increased their price target on shares of ON from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.