On Holding AG (NYSE:ONON) Shares Purchased by Renaissance Capital LLC

Renaissance Capital LLC grew its holdings in On Holding AG (NYSE:ONONFree Report) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,840 shares of the company’s stock after buying an additional 4,033 shares during the quarter. ON accounts for approximately 2.5% of Renaissance Capital LLC’s holdings, making the stock its 9th biggest holding. Renaissance Capital LLC’s holdings in ON were worth $4,912,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. increased its position in shares of ON by 109.3% during the 3rd quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock worth $182,688,000 after purchasing an additional 3,428,794 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of ON by 36.2% during the 4th quarter. 1832 Asset Management L.P. now owns 3,160,000 shares of the company’s stock worth $85,225,000 after purchasing an additional 840,600 shares in the last quarter. Bamco Inc. NY increased its position in shares of ON by 243.0% during the 3rd quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock worth $84,239,000 after purchasing an additional 2,145,318 shares in the last quarter. Invesco Ltd. increased its position in shares of ON by 2.7% during the 3rd quarter. Invesco Ltd. now owns 2,908,297 shares of the company’s stock worth $80,909,000 after purchasing an additional 76,518 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of ON during the 4th quarter worth about $57,916,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Stock Performance

ONON stock traded down $0.42 during mid-day trading on Thursday, hitting $41.81. 2,679,110 shares of the company were exchanged, compared to its average volume of 5,222,962. The firm has a market cap of $26.33 billion, a P/E ratio of 95.98, a P/E/G ratio of 1.25 and a beta of 2.27. The firm’s 50 day simple moving average is $36.88 and its 200 day simple moving average is $32.68. On Holding AG has a 1-year low of $23.41 and a 1-year high of $44.30.

ON (NYSE:ONONGet Free Report) last announced its earnings results on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.12 by $0.20. The firm had revenue of $581.41 million for the quarter, compared to the consensus estimate of $555.52 million. ON had a net margin of 6.46% and a return on equity of 11.13%. On average, equities research analysts predict that On Holding AG will post 0.77 EPS for the current fiscal year.

Analyst Ratings Changes

ONON has been the subject of a number of recent analyst reports. UBS Group increased their target price on shares of ON from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Piper Sandler increased their target price on shares of ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Truist Financial reissued a “buy” rating and set a $46.00 price objective on shares of ON in a report on Tuesday. TheStreet lowered shares of ON from a “c” rating to a “d+” rating in a report on Monday, March 18th. Finally, Evercore ISI increased their price objective on shares of ON from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, ON presently has an average rating of “Moderate Buy” and an average target price of $42.00.

Read Our Latest Stock Analysis on ON

ON Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ON (NYSE:ONON)

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