VisionPoint Advisory Group LLC Makes New $32,000 Investment in On Holding AG (NYSE:ONON)

VisionPoint Advisory Group LLC acquired a new stake in On Holding AG (NYSE:ONON) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,178 shares of the company’s stock, valued at approximately $32,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of ON by 4.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock valued at $46,076,000 after purchasing an additional 76,746 shares during the period. Liontrust Investment Partners LLP lifted its stake in ON by 204.7% in the third quarter. Liontrust Investment Partners LLP now owns 517,942 shares of the company’s stock worth $14,410,000 after acquiring an additional 347,942 shares during the period. China Universal Asset Management Co. Ltd. increased its position in ON by 127.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 131,585 shares of the company’s stock valued at $3,549,000 after purchasing an additional 73,839 shares during the period. Jennison Associates LLC raised its holdings in shares of ON by 7.6% in the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock valued at $219,416,000 after purchasing an additional 554,513 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. lifted its position in shares of ON by 10.3% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 292,338 shares of the company’s stock worth $8,133,000 after purchasing an additional 27,206 shares during the period. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Stock Performance

ON stock traded down $0.90 during trading on Friday, reaching $30.40. The company had a trading volume of 10,095,160 shares, compared to its average volume of 3,529,576. The firm’s 50-day simple moving average is $33.07 and its 200 day simple moving average is $30.11. The firm has a market capitalization of $19.14 billion, a PE ratio of 112.56, a price-to-earnings-growth ratio of 1.10 and a beta of 2.17. On Holding AG has a 1-year low of $23.41 and a 1-year high of $37.08.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The firm had revenue of $504.69 million during the quarter, compared to analysts’ expectations of $515.30 million. ON had a net margin of 4.04% and a return on equity of 6.85%. Analysts anticipate that On Holding AG will post 0.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Truist Financial increased their target price on ON from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, March 13th. Piper Sandler boosted their target price on shares of ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Stifel Nicolaus reiterated a “buy” rating and set a $40.00 price objective on shares of ON in a research note on Tuesday, March 5th. Telsey Advisory Group restated an “outperform” rating and issued a $37.00 target price on shares of ON in a research note on Tuesday. Finally, TheStreet cut ON from a “c” rating to a “d+” rating in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and an average target price of $37.53.

ON Company 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.