On Holding AG (NYSE:ONON) Shares Sold by Congress Park Capital LLC

Congress Park Capital LLC lessened its holdings in shares of On Holding AG (NYSE:ONON) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,332 shares of the company’s stock after selling 583 shares during the quarter. Congress Park Capital LLC’s holdings in ON were worth $1,371,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of ON in the 2nd quarter worth approximately $32,000. WD Rutherford LLC bought a new stake in ON during the 1st quarter valued at $52,000. Asset Dedication LLC raised its stake in ON by 25.8% during the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after acquiring an additional 327 shares in the last quarter. Orion Capital Management LLC raised its stake in ON by 106.7% during the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock valued at $88,000 after acquiring an additional 1,280 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of ON by 24.0% during the 2nd quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 33.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Piper Sandler lifted their price target on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Hsbc Global Res upgraded ON to a “hold” rating in a research report on Thursday, September 5th. Evercore ISI upgraded ON to an “overweight” rating and lifted their target price for the stock from $43.00 to $47.00 in a report on Monday, August 12th. Finally, Raymond James assumed coverage on ON in a report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.74.

ON Stock Performance

Shares of ONON stock traded down $0.07 on Friday, reaching $49.88. 678,365 shares of the company’s stock traded hands, compared to its average volume of 5,100,828. On Holding AG has a 12-month low of $23.41 and a 12-month high of $52.80. The company has a market capitalization of $31.41 billion, a P/E ratio of 94.23 and a beta of 2.24. The business’s 50 day moving average price is $46.09 and its two-hundred day moving average price is $40.21.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 7.42% and a return on equity of 13.02%. Research analysts predict that On Holding AG will post 0.76 earnings per share for the current year.

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.