Nicholas Investment Partners LP Grows Holdings in On Holding AG (NYSE:ONON)

Nicholas Investment Partners LP lifted its position in shares of On Holding AG (NYSE:ONON) by 19.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,237 shares of the company’s stock after acquiring an additional 26,353 shares during the quarter. Nicholas Investment Partners LP’s holdings in ON were worth $6,217,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. William Blair Investment Management LLC purchased a new stake in shares of ON during the first quarter worth about $121,712,000. Norges Bank purchased a new stake in shares of ON during the fourth quarter worth approximately $57,916,000. Westfield Capital Management Co. LP acquired a new position in ON in the 1st quarter valued at $65,898,000. Acadian Asset Management LLC lifted its holdings in ON by 574.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock valued at $59,878,000 after purchasing an additional 1,315,006 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in ON during the 4th quarter worth $34,420,000. 33.11% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Up 2.6 %

NYSE:ONON opened at $46.42 on Thursday. On Holding AG has a 52 week low of $23.41 and a 52 week high of $48.08. The stock’s fifty day moving average is $41.13 and its two-hundred day moving average is $37.76. The stock has a market capitalization of $29.23 billion, a price-to-earnings ratio of 105.50, a price-to-earnings-growth ratio of 1.23 and a beta of 2.24.

ON (NYSE:ONON) last posted its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (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 analyst estimates of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. On average, sell-side analysts expect that On Holding AG will post 0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ONON shares. Sanford C. Bernstein began coverage on shares of ON in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $50.00 price target on the stock. TD Cowen upped their price target on ON from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Raymond James assumed coverage on ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price objective on the stock. The Goldman Sachs Group upped their target price on ON from $41.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Finally, Stifel Nicolaus lifted their price target on ON from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.16.

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.