U S Global Investors Inc. Makes New $133,000 Investment in On Holding AG (NYSE:ONON)

U S Global Investors Inc. acquired a new position in On Holding AG (NYSE:ONON) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,650 shares of the company’s stock, valued at approximately $133,000.

Several other large investors have also recently bought and sold shares of ONON. Blue Trust Inc. raised its position in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after acquiring an additional 403 shares in the last quarter. Quarry LP purchased a new position in shares of ON in the second quarter valued at $32,000. WD Rutherford LLC purchased a new position in shares of ON in the first quarter valued at $52,000. 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 valued at $62,000 after buying an additional 327 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of ON in the third quarter valued at $65,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Wall Street Analyst Weigh In

ONON has been the subject of a number of research analyst reports. Barclays raised their price target on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Hsbc Global Res upgraded ON to a “hold” rating in a research report on Thursday, September 5th. Piper Sandler increased their price objective on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. KeyCorp increased their price objective on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Finally, HSBC assumed coverage on ON in a research note on Thursday, September 5th. They set a “hold” rating and a $52.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.74.

ON Stock Performance

Shares of NYSE:ONON traded down $0.44 during mid-day trading on Tuesday, hitting $47.87. 190,999 shares of the company traded hands, compared to its average volume of 5,016,976. The firm has a market cap of $30.14 billion, a P/E ratio of 91.15 and a beta of 2.24. On Holding AG has a 52-week low of $24.15 and a 52-week high of $52.80. The firm’s 50 day simple moving average is $47.56 and its 200 day simple moving average is $41.02.

ON (NYSE:ONON) last announced its earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The company had revenue of $627.66 million for the quarter, compared to analysts’ expectations of $634.43 million. Equities research analysts expect that On Holding AG will post 0.76 EPS for the current fiscal year.

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.