Barden Capital Management Inc. Decreases Stock Holdings in On Holding AG (NYSE:ONON)

Barden Capital Management Inc. lessened its holdings in On Holding AG (NYSE:ONON) by 2.7% during the third quarter, HoldingsChannel.com reports. The fund owned 30,648 shares of the company’s stock after selling 839 shares during the quarter. Barden Capital Management Inc.’s holdings in ON were worth $1,537,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ONON. Blair William & Co. IL acquired a new position in shares of ON during the first quarter worth about $502,000. Janney Montgomery Scott LLC lifted its position in ON by 1,011.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock worth $3,686,000 after acquiring an additional 94,814 shares in the last quarter. Acadian Asset Management LLC purchased a new position in ON in the 1st quarter worth approximately $8,094,000. Wellington Management Group LLP acquired a new stake in ON in the fourth quarter valued at approximately $34,420,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of ON by 100.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock valued at $49,716,000 after purchasing an additional 642,894 shares during the period. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Trading Up 0.4 %

Shares of ON stock opened at $48.33 on Monday. The stock has a market capitalization of $30.43 billion, a price-to-earnings ratio of 91.19 and a beta of 2.24. On Holding AG has a twelve month low of $24.15 and a twelve month high of $52.80. The business’s 50 day simple moving average is $47.39 and its 200-day simple moving average is $40.90.

ON (NYSE:ONON) last issued its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The company had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. Sell-side analysts predict that On Holding AG will post 0.76 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $47.00 target price on shares of ON in a research note on Tuesday, August 13th. Hsbc Global Res raised shares of ON to a “hold” rating in a research report on Thursday, September 5th. The Goldman Sachs Group raised their target price on ON from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. TD Cowen boosted their price target on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, KeyCorp raised their price objective on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.74.

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.