MFA Wealth Advisors LLC Takes $50,000 Position in On Holding AG (NYSE:ONON)

MFA Wealth Advisors LLC bought a new stake in shares of On Holding AG (NYSE:ONON) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 994 shares of the company’s stock, valued at approximately $50,000.

Several other large investors have also recently made changes to their positions in the business. William Blair Investment Management LLC purchased a new stake in ON in the 1st quarter worth about $121,712,000. Price T Rowe Associates Inc. MD lifted its position in ON by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock worth $98,636,000 after buying an additional 14,674 shares during the last quarter. 1832 Asset Management L.P. lifted its position in ON by 66,838.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after buying an additional 2,406,200 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in ON by 30.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,224,894 shares of the company’s stock worth $78,717,000 after purchasing an additional 516,478 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new position in ON in the 1st quarter worth approximately $65,898,000. 33.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ONON has been the topic of several research analyst reports. KeyCorp boosted their target price on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. TD Cowen upped 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. Hsbc Global Res raised ON to a “hold” rating in a report on Thursday, September 5th. Telsey Advisory Group reissued an “outperform” rating and issued a $47.00 target price on shares of ON in a report on Tuesday, August 13th. Finally, Piper Sandler upped their price target on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.74.

ON Stock Down 2.7 %

Shares of ONON opened at $47.36 on Thursday. On Holding AG has a 52 week low of $24.15 and a 52 week high of $52.80. The business has a 50-day simple moving average of $47.84 and a two-hundred day simple moving average of $41.18. The stock has a market cap of $29.82 billion, a price-to-earnings ratio of 89.36 and a beta of 2.24.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) 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 business had revenue of $627.66 million for the quarter, compared to analysts’ expectations of $634.43 million. On average, equities analysts anticipate that On Holding AG will post 0.76 earnings per share for the current fiscal year.

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.