On Holding AG (NYSE:ONON) is Aigen Investment Management LP’s 2nd Largest Position

Aigen Investment Management LP grew its position in shares of On Holding AG (NYSE:ONON) by 552.9% during the third quarter, Holdings Channel reports. The institutional investor owned 103,741 shares of the company’s stock after purchasing an additional 87,852 shares during the quarter. ON accounts for 1.0% of Aigen Investment Management LP’s holdings, making the stock its 2nd largest holding. Aigen Investment Management LP’s holdings in ON were worth $5,203,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ameritas Advisory Services LLC lifted its holdings in ON by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock valued at $924,000 after purchasing an additional 300 shares during the last quarter. Capital Advisors Inc. OK lifted its stake in shares of ON by 5.1% during the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock valued at $310,000 after buying an additional 301 shares in the last quarter. Artemis Investment Management LLP grew its stake in ON by 1.9% in the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock valued at $637,000 after buying an additional 302 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in ON by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after purchasing an additional 325 shares during the period. Finally, Asset Dedication LLC increased its position in shares of ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after purchasing an additional 327 shares during the last quarter. Institutional investors own 33.11% of the company’s stock.

ON Trading Down 3.8 %

ON stock traded down $2.00 during mid-day trading on Tuesday, hitting $50.71. The company had a trading volume of 2,351,956 shares, compared to its average volume of 4,951,386. The stock’s 50 day moving average price is $48.97 and its two-hundred day moving average price is $42.76. The company has a market capitalization of $31.93 billion, a PE ratio of 99.45 and a beta of 2.25. On Holding AG has a 12 month low of $24.15 and a 12 month high of $54.00.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm 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%. Equities research analysts anticipate that On Holding AG will post 0.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ONON shares. Morgan Stanley lifted their price target on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Telsey Advisory Group increased their price target on shares of ON from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Raymond James assumed coverage on shares of ON in a research note on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 price objective for the company. HSBC began coverage on ON in a research note on Thursday, September 5th. They issued a “hold” rating and a $52.00 target price for the company. Finally, Evercore ISI upgraded shares of ON to an “overweight” rating and boosted their price objective for the company from $43.00 to $47.00 in a research report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.37.

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.