Stevens Capital Management LP Invests $226,000 in On Holding AG (NYSE:ONON)

Stevens Capital Management LP acquired a new position in shares of On Holding AG (NYSE:ONON) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,368 shares of the company’s stock, valued at approximately $226,000.

Several other large investors have also recently added to or reduced their stakes in the company. Duality Advisers LP bought a new position in ON during the fourth quarter worth $1,159,000. APEIRON CAPITAL Ltd lifted its stake in ON by 4.5% in the fourth quarter. APEIRON CAPITAL Ltd now owns 1,085,922 shares of the company’s stock valued at $29,287,000 after buying an additional 47,229 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in ON in the fourth quarter valued at $245,000. J.W. Cole Advisors Inc. bought a new stake in ON in the fourth quarter valued at $360,000. Finally, Federated Hermes Inc. lifted its stake in ON by 54.2% in the fourth quarter. Federated Hermes Inc. now owns 555,000 shares of the company’s stock valued at $14,968,000 after buying an additional 195,000 shares during the last quarter. 33.11% of the stock is currently owned by institutional investors.

ON Trading Up 2.7 %

NYSE ONON traded up $0.85 during trading on Friday, reaching $32.79. 2,087,756 shares of the company’s stock were exchanged, compared to its average volume of 5,177,378. On Holding AG has a fifty-two week low of $23.41 and a fifty-two week high of $37.08. The firm has a market capitalization of $20.65 billion, a PE ratio of 121.44, a P/E/G ratio of 1.13 and a beta of 2.16. The company’s fifty day simple moving average is $33.17 and its 200-day simple moving average is $29.54.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Truist Financial raised their target price on ON from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, March 13th. Barclays assumed coverage on shares of ON in a research note on Monday, April 1st. They set an “overweight” rating and a $38.00 price objective on the stock. Telsey Advisory Group restated an “outperform” rating and set a $37.00 price objective on shares of ON in a research note on Wednesday. TheStreet cut shares of ON from a “c” rating to a “d+” rating in a research note on Monday, March 18th. Finally, Piper Sandler lifted their price objective on shares of ON from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.13.

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.