Sigma Planning Corp Purchases New Stake in On Holding AG (NYSE:ONON)

Sigma Planning Corp acquired a new stake in On Holding AG (NYSE:ONON - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,871 shares of the company's stock, valued at approximately $1,398,000.

A number of other large investors have also recently added to or reduced their stakes in the business. 1832 Asset Management L.P. lifted its position in shares of ON by 66,838.9% in the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company's stock valued at $93,500,000 after acquiring an additional 2,406,200 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of ON during the 1st quarter worth about $65,898,000. Acadian Asset Management LLC grew its holdings in shares of ON by 574.3% during the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company's stock worth $59,878,000 after buying an additional 1,315,006 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of ON in the second quarter valued at approximately $43,456,000. Finally, Renaissance Technologies LLC purchased a new position in shares of ON during the second quarter valued at approximately $27,975,000. 33.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ONON shares. UBS Group upped their price target on shares of ON from $61.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday. Raymond James began coverage on ON in a research report on Wednesday, July 31st. They issued an "outperform" rating and a $46.00 target price on the stock. The Goldman Sachs Group boosted their price target on ON from $50.00 to $57.00 and gave the company a "buy" rating in a research report on Wednesday. BTIG Research upgraded ON from a "neutral" rating to a "buy" rating and set a $64.00 target price for the company in a report on Wednesday. Finally, Evercore ISI upgraded shares of ON to an "overweight" rating and raised their price target for the company from $43.00 to $47.00 in a report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $53.50.

ON Stock Up 0.2 %

ON stock traded up $0.09 during trading hours on Wednesday, hitting $52.71. 6,094,071 shares of the company traded hands, compared to its average volume of 4,995,705. The firm's 50-day simple moving average is $49.10 and its two-hundred day simple moving average is $42.90. The firm has a market cap of $33.19 billion, a P/E ratio of 126.07 and a beta of 2.25. On Holding AG has a 1-year low of $24.15 and a 1-year high of $56.44.

ON (NYSE:ONON - Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). ON had a return on equity of 11.02% and a net margin of 5.87%. The firm had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. On average, equities research analysts predict that On Holding AG will post 0.75 earnings per share 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.