Prentiss Smith & Co. Inc. Has $3.37 Million Stock Position in On Holding AG (NYSE:ONON)

Prentiss Smith & Co. Inc. trimmed its position in On Holding AG (NYSE:ONON) by 52.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 67,171 shares of the company’s stock after selling 73,202 shares during the period. ON comprises 2.2% of Prentiss Smith & Co. Inc.’s investment portfolio, making the stock its 21st biggest position. Prentiss Smith & Co. Inc.’s holdings in ON were worth $3,369,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Ameritas Advisory Services LLC increased its holdings in ON by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock worth $924,000 after acquiring an additional 300 shares during the period. Artemis Investment Management LLP increased its holdings in shares of ON by 1.9% in the second quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock worth $637,000 after purchasing an additional 302 shares during the period. Crossmark Global Holdings Inc. raised its position in shares of ON by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after buying an additional 325 shares in the last quarter. Asset Dedication LLC boosted its stake in ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after buying an additional 327 shares during the period. Finally, Sage Capital Advisors llc grew its position in ON by 0.3% during the third quarter. Sage Capital Advisors llc now owns 99,859 shares of the company’s stock worth $5,008,000 after buying an additional 328 shares in the last quarter. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

ON Trading Down 0.2 %

Shares of NYSE:ONON traded down $0.12 during midday trading on Monday, reaching $48.21. 1,541,888 shares of the company were exchanged, compared to its average volume of 5,035,332. The business’s fifty day moving average is $47.39 and its two-hundred day moving average is $40.90. On Holding AG has a one year low of $24.15 and a one year high of $52.80. The stock has a market cap of $30.36 billion, a PE ratio of 91.19 and a beta of 2.24.

ON (NYSE:ONON) last released 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 during the quarter, compared to the consensus estimate of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. As a group, sell-side analysts expect that On Holding AG will post 0.76 EPS for the current year.

Wall Street Analyst Weigh In

ONON has been the topic of a number of research reports. Bank of America upgraded ON from an “underperform” rating to a “neutral” rating and raised their price target for the company from $21.00 to $55.00 in a research report on Monday, September 23rd. Telsey Advisory Group reissued an “outperform” rating and set a $47.00 price target on shares of ON in a research note on Tuesday, August 13th. 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. Morgan Stanley lifted their price objective on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Finally, Truist Financial upped their target price on ON from $51.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and seventeen have issued 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 $49.74.

About ON

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.