Private Advisor Group LLC Sells 12,925 Shares of On Holding AG (NYSE:ONON)

Private Advisor Group LLC cut its holdings in On Holding AG (NYSE:ONON - Free Report) by 59.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,950 shares of the company's stock after selling 12,925 shares during the period. Private Advisor Group LLC's holdings in ON were worth $449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. U S Global Investors Inc. bought a new stake in ON in the 3rd quarter valued at about $133,000. Foundations Investment Advisors LLC bought a new stake in ON in the 3rd quarter valued at about $219,000. Whittier Trust Co. of Nevada Inc. increased its position in ON by 135.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,777 shares of the company's stock valued at $189,000 after buying an additional 2,174 shares in the last quarter. Whittier Trust Co. increased its position in ON by 3,219.8% in the 3rd quarter. Whittier Trust Co. now owns 11,055 shares of the company's stock valued at $554,000 after buying an additional 10,722 shares in the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in ON in the 3rd quarter valued at about $396,000. 33.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ONON. TD Cowen lifted their price target on ON from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Barclays boosted their target price on ON from $40.00 to $47.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 14th. KeyCorp boosted their target price on ON from $47.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, September 26th. Raymond James started coverage on ON in a research note on Wednesday, July 31st. They issued an "outperform" rating and a $46.00 target price on the stock. Finally, Morgan Stanley boosted their target price on ON from $44.00 to $46.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, ON currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.05.

ON Trading Up 3.4 %

Shares of ON stock traded up $1.58 during trading on Tuesday, hitting $47.88. The stock had a trading volume of 2,277,303 shares, compared to its average volume of 4,945,168. The firm has a market cap of $30.15 billion, a price-to-earnings ratio of 87.36 and a beta of 2.25. On Holding AG has a 12 month low of $24.15 and a 12 month high of $52.80. The business's 50-day moving average is $48.67 and its 200 day moving average is $42.13.

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

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.