Los Angeles Capital Management LLC Acquires Shares of 17,928 On Holding AG $ONON

Los Angeles Capital Management LLC bought a new position in On Holding AG (NYSE:ONON) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 17,928 shares of the company’s stock, valued at approximately $933,000.

A number of other large investors have also recently made changes to their positions in the company. RWA Wealth Partners LLC purchased a new stake in ON in the 2nd quarter worth about $484,000. Wedbush Securities Inc. grew its stake in shares of ON by 13.3% during the second quarter. Wedbush Securities Inc. now owns 22,855 shares of the company’s stock valued at $1,190,000 after buying an additional 2,689 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of ON in the second quarter worth approximately $83,000. First Horizon Advisors Inc. raised its holdings in shares of ON by 11.7% in the second quarter. First Horizon Advisors Inc. now owns 3,859 shares of the company’s stock worth $201,000 after buying an additional 405 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of ON by 773.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 345,428 shares of the company’s stock worth $17,980,000 after acquiring an additional 305,894 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Stock Up 2.1%

Shares of ON stock opened at $42.39 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. The stock has a market cap of $26.69 billion, a price-to-earnings ratio of 55.05, a PEG ratio of 5.16 and a beta of 2.18. The firm’s 50-day moving average is $41.69 and its two-hundred day moving average is $48.21. On Holding AG has a 1 year low of $34.38 and a 1 year high of $64.05.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.35). ON had a return on equity of 15.47% and a net margin of 7.45%.The business had revenue of $944.29 million during the quarter, compared to analysts’ expectations of $707.74 million. During the same period in the previous year, the company posted $0.14 EPS. ON’s revenue for the quarter was up 32.0% on a year-over-year basis. As a group, research analysts expect that On Holding AG will post 0.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ONON has been the topic of several research analyst reports. Barclays cut their price objective on ON from $69.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday. Telsey Advisory Group restated an “outperform” rating and issued a $65.00 price target on shares of ON in a report on Thursday. Weiss Ratings reiterated a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. Bank of America boosted their price objective on shares of ON from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Raymond James Financial reduced their target price on shares of ON from $66.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.14.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.