Wedbush Securities Inc. Buys 2,689 Shares of On Holding AG $ONON

Wedbush Securities Inc. increased its stake in shares of On Holding AG (NYSE:ONON) by 13.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,855 shares of the company’s stock after purchasing an additional 2,689 shares during the period. Wedbush Securities Inc.’s holdings in ON were worth $1,190,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Montag A & Associates Inc. bought a new position in ON during the 1st quarter worth approximately $26,000. TCTC Holdings LLC boosted its stake in ON by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock worth $26,000 after purchasing an additional 315 shares during the period. Washington Trust Advisors Inc. acquired a new position in ON in the 2nd quarter worth $29,000. Smartleaf Asset Management LLC raised its stake in shares of ON by 3,392.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock valued at $42,000 after purchasing an additional 916 shares during the period. Finally, Ramirez Asset Management Inc. acquired a new stake in shares of ON in the 1st quarter valued at about $44,000. Institutional investors own 36.39% of the company’s stock.

ON Stock Down 1.4%

Shares of ONON opened at $35.01 on Monday. The firm’s 50 day moving average is $42.23 and its 200-day moving average is $48.44. On Holding AG has a 12 month low of $34.38 and a 12 month high of $64.05. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $22.04 billion, a PE ratio of 77.79, a P/E/G ratio of 4.35 and a beta of 2.18.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.35). ON had a net margin of 4.45% and a return on equity of 8.75%. The company had revenue of $944.29 million for the quarter, compared to the consensus estimate of $707.74 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The business’s revenue was up 32.0% compared to the same quarter last year. ON has set its FY 2025 guidance at EPS. Equities research analysts forecast that On Holding AG will post 0.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ONON. Morgan Stanley upped their price target on ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 price target on shares of ON in a research report on Wednesday, November 5th. Zacks Research cut shares of ON from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Jefferies Financial Group set a $40.00 price target on ON and gave the stock an “underperform” rating in a report on Wednesday, August 13th. Finally, Barclays increased their price target on ON from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.05.

ON Company Profile

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.