26,180 Shares in On Holding AG (NYSE:ONON) Acquired by Congress Park Capital LLC

Congress Park Capital LLC acquired a new position in On Holding AG (NYSE:ONON) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 26,180 shares of the company’s stock, valued at approximately $926,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ONON. American Century Companies Inc. lifted its stake in ON by 109.3% in the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock valued at $182,688,000 after buying an additional 3,428,794 shares during the period. Norges Bank bought a new stake in shares of ON during the fourth quarter valued at approximately $57,916,000. Bamco Inc. NY increased its holdings in shares of ON by 243.0% during the third quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock valued at $84,239,000 after acquiring an additional 2,145,318 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new stake in shares of ON during the third quarter valued at approximately $59,539,000. Finally, Rokos Capital Management LLP increased its holdings in shares of ON by 642.3% during the third quarter. Rokos Capital Management LLP now owns 2,075,457 shares of the company’s stock valued at $58,268,000 after acquiring an additional 1,795,849 shares in the last quarter. 33.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ONON shares. TheStreet downgraded ON from a “c” rating to a “d+” rating in a report on Monday, March 18th. Redburn Atlantic reiterated a “neutral” rating and set a $34.00 price target on shares of ON in a report on Thursday, March 7th. UBS Group upped their price target on ON from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Piper Sandler upped their price target on ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Finally, Evercore ISI upped their price target on ON from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.00.

ON Price Performance

Shares of NYSE ONON traded up $0.17 during trading on Friday, reaching $39.20. 3,882,796 shares of the stock traded hands, compared to its average volume of 5,268,643. On Holding AG has a 52-week low of $23.41 and a 52-week high of $44.30. The company has a 50-day moving average of $37.68 and a 200-day moving average of $33.10. The stock has a market capitalization of $24.68 billion, a P/E ratio of 88.71, a price-to-earnings-growth ratio of 1.13 and a beta of 2.27.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.20. The business had revenue of $581.41 million for the quarter, compared to analysts’ expectations of $555.52 million. ON had a return on equity of 11.13% and a net margin of 6.46%. Analysts expect that On Holding AG will post 0.78 earnings per share for the current fiscal year.

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.