Trexquant Investment LP Cuts Stake in On Holding AG (NYSE:ONON)

Trexquant Investment LP lessened its holdings in On Holding AG (NYSE:ONON) by 62.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 102,860 shares of the company’s stock after selling 171,589 shares during the period. Trexquant Investment LP’s holdings in ON were worth $2,774,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Management One Co. Ltd. boosted its stake in shares of ON by 20.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,145 shares of the company’s stock valued at $60,000 after buying an additional 367 shares in the last quarter. Janney Capital Management LLC lifted its holdings in shares of ON by 2.7% in the third quarter. Janney Capital Management LLC now owns 14,450 shares of the company’s stock valued at $402,000 after purchasing an additional 384 shares in the last quarter. Spire Wealth Management raised its holdings in ON by 91.0% during the third quarter. Spire Wealth Management now owns 972 shares of the company’s stock valued at $27,000 after buying an additional 463 shares in the last quarter. Avitas Wealth Management LLC raised its stake in shares of ON by 2.7% in the fourth quarter. Avitas Wealth Management LLC now owns 22,943 shares of the company’s stock valued at $619,000 after acquiring an additional 602 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA raised its position in shares of ON by 5.5% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 13,392 shares of the company’s stock valued at $361,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $41.00 target price on shares of ON in a research note on Thursday, May 16th. Morgan Stanley lifted their price target on shares of ON from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. TD Cowen boosted their target price on shares of ON from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. William Blair started coverage on shares of ON in a research note on Tuesday, April 16th. They set an “outperform” rating on the stock. Finally, UBS Group upped their price objective on shares of ON from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.87.

ON Stock Up 4.7 %

NYSE:ONON traded up $1.82 during mid-day trading on Friday, hitting $40.23. 7,449,295 shares of the stock traded hands, compared to its average volume of 5,850,103. The firm’s 50 day moving average is $33.91 and its two-hundred day moving average is $30.87. On Holding AG has a 52 week low of $23.41 and a 52 week high of $40.32. The stock has a market capitalization of $25.33 billion, a price-to-earnings ratio of 91.43, a PEG ratio of 1.35 and a beta of 2.17.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.18). ON had a net margin of 6.46% and a return on equity of 11.13%. The company had revenue of $504.69 million for the quarter, compared to analysts’ expectations of $515.30 million. As a group, research analysts predict that On Holding AG will post 0.65 EPS for the current 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.