Virtu Financial LLC Takes Position in On Holding AG (NYSE:ONON)

Virtu Financial LLC purchased a new position in On Holding AG (NYSE:ONON) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 70,176 shares of the company’s stock, valued at approximately $2,723,000.

Several other large investors have also added to or reduced their stakes in the stock. Principal Securities Inc. purchased a new stake in ON in the fourth quarter worth about $88,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of ON by 19.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 12,848 shares of the company’s stock valued at $347,000 after purchasing an additional 2,114 shares in the last quarter. Principal Financial Group Inc. grew its stake in ON by 5.4% in the fourth quarter. Principal Financial Group Inc. now owns 430,830 shares of the company’s stock worth $11,619,000 after purchasing an additional 21,889 shares during the period. Level Four Advisory Services LLC bought a new position in ON in the fourth quarter worth $367,000. Finally, Norges Bank purchased a new position in ON during the fourth quarter valued at $57,916,000. Institutional investors own 33.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ONON. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $47.00 target price on shares of ON in a research report on Tuesday, August 13th. Sanford C. Bernstein initiated coverage on shares of ON in a research note on Tuesday, June 11th. They set an “outperform” rating and a $50.00 target price for the company. The Goldman Sachs Group boosted their price target on ON from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Hsbc Global Res raised ON to a “hold” rating in a research report on Thursday, September 5th. Finally, Raymond James began coverage on ON in a research note on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.16.

ON Stock Up 2.6 %

Shares of ONON stock opened at $49.89 on Tuesday. The firm has a market capitalization of $31.41 billion, a PE ratio of 113.39, a P/E/G ratio of 1.37 and a beta of 2.24. The company has a 50 day moving average price of $42.04 and a 200-day moving average price of $38.16. On Holding AG has a 52 week low of $23.41 and a 52 week high of $50.08.

ON (NYSE:ONON) last announced its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The company had revenue of $627.66 million for the quarter, compared to analysts’ expectations of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. Analysts anticipate that On Holding AG will post 0.82 earnings per share for the current 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.