On Holding AG (NYSE:ONON) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 88.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 10,900 shares of the company's stock after selling 87,500 shares during the period. Kornitzer Capital Management Inc. KS's holdings in ON were worth $547,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company's stock worth $27,000 after purchasing an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock valued at $28,000 after purchasing an additional 400 shares in the last quarter. Quarry LP purchased a new stake in ON during the 2nd quarter worth approximately $32,000. MFA Wealth Advisors LLC acquired a new stake in ON during the 3rd quarter worth approximately $50,000. Finally, nVerses Capital LLC purchased a new position in ON in the 3rd quarter valued at approximately $65,000. Institutional investors and hedge funds own 33.11% of the company's stock.

ON Price Performance

Shares of ONON traded up $1.11 during mid-day trading on Friday, reaching $51.49. 4,770,503 shares of the company's stock were exchanged, compared to its average volume of 3,027,877. The business's fifty day simple moving average is $48.85 and its 200-day simple moving average is $42.54. On Holding AG has a 52-week low of $24.15 and a 52-week high of $52.80. The stock has a market capitalization of $32.42 billion, a PE ratio of 97.15 and a beta of 2.25.

ON (NYSE:ONON - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) 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 company had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. Equities research analysts predict that On Holding AG will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. HSBC assumed coverage on ON in a research report on Thursday, September 5th. They set a "hold" rating and a $52.00 price objective on the stock. Piper Sandler increased their price target on ON from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. UBS Group boosted their price objective on ON from $55.00 to $61.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Raymond James initiated coverage on shares of ON in a report on Wednesday, July 31st. They issued an "outperform" rating and a $46.00 target price on the stock. Finally, Morgan Stanley boosted their price target on shares of ON from $44.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $50.37.

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.