Global Wealth Management Investment Advisory Inc. Buys New Shares in On Holding AG (NYSE:ONON)

Global Wealth Management Investment Advisory Inc. bought a new stake in On Holding AG (NYSE:ONON) in the 4th quarter, Holdings Channel reports. The firm bought 1,206 shares of the company’s stock, valued at approximately $33,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ONON. Arnhold LLC boosted its position in ON by 4.8% during the fourth quarter. Arnhold LLC now owns 486,543 shares of the company’s stock worth $13,122,000 after purchasing an additional 22,500 shares during the period. Vanguard Capital Wealth Advisors boosted its position in ON by 3.7% during the fourth quarter. Vanguard Capital Wealth Advisors now owns 44,500 shares of the company’s stock worth $1,200,000 after purchasing an additional 1,600 shares during the period. Russell Investments Group Ltd. boosted its position in ON by 205.4% during the fourth quarter. Russell Investments Group Ltd. now owns 325,731 shares of the company’s stock worth $8,785,000 after purchasing an additional 219,091 shares during the period. California First Leasing Corp boosted its position in ON by 112.9% during the fourth quarter. California First Leasing Corp now owns 36,200 shares of the company’s stock worth $976,000 after purchasing an additional 19,200 shares during the period. Finally, Stevens Capital Management LP bought a new position in ON during the fourth quarter worth $226,000. 33.11% of the stock is owned by institutional investors.

ON Stock Down 1.4 %

ONON stock opened at $31.29 on Thursday. The company has a market cap of $19.70 billion, a PE ratio of 115.89, a price-to-earnings-growth ratio of 1.11 and a beta of 2.17. The business has a 50-day simple moving average of $33.20 and a 200 day simple moving average of $29.79. On Holding AG has a 52 week low of $23.41 and a 52 week high of $37.08.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. William Blair assumed coverage on shares of ON in a research report on Tuesday, April 16th. They set an “outperform” rating for the company. Barclays began coverage on ON in a report on Monday, April 1st. They set an “overweight” rating and a $38.00 target price for the company. Evercore ISI dropped their target price on ON from $40.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, March 13th. Morgan Stanley reissued an “overweight” rating and set a $32.00 target price on shares of ON in a report on Monday, April 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $40.00 target price on shares of ON in a report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.13.

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.