Thornburg Investment Management Inc. Sells 4,182 Shares of On Holding AG (NYSE:ONON)

Thornburg Investment Management Inc. trimmed its position in shares of On Holding AG (NYSE:ONON) by 2.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,647 shares of the company’s stock after selling 4,182 shares during the period. Thornburg Investment Management Inc.’s holdings in ON were worth $6,002,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Asset Management One Co. Ltd. raised its holdings in shares of ON by 20.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,145 shares of the company’s stock worth $60,000 after buying an additional 367 shares in the last quarter. Janney Capital Management LLC raised its stake in ON by 3.1% during the fourth quarter. Janney Capital Management LLC now owns 14,893 shares of the company’s stock worth $402,000 after acquiring an additional 443 shares in the last quarter. Avitas Wealth Management LLC lifted its holdings 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 worth $619,000 after acquiring an additional 602 shares during the last quarter. Spire Wealth Management boosted its stake in shares of ON by 66.2% in the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock valued at $45,000 after purchasing an additional 643 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA grew its holdings 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 purchasing an additional 700 shares during the last quarter. 33.11% of the stock is owned by institutional investors.

ON Trading Down 5.0 %

ONON stock traded down $2.04 during mid-day trading on Wednesday, reaching $38.48. The company’s stock had a trading volume of 3,734,414 shares, compared to its average volume of 5,209,865. On Holding AG has a 12 month low of $23.41 and a 12 month high of $44.30. The business’s 50 day moving average price is $39.78 and its 200 day moving average price is $34.42. The company has a market cap of $24.23 billion, a price-to-earnings ratio of 89.39, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.20. The company had revenue of $581.41 million during the quarter, compared to analyst estimates of $555.52 million. ON had a net margin of 6.46% and a return on equity of 11.13%. As a group, equities analysts expect that On Holding AG will post 0.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ONON. Stifel Nicolaus restated a “buy” rating and issued a $41.00 target price on shares of ON in a research report on Thursday, May 16th. William Blair started coverage on ON in a report on Tuesday, April 16th. They issued an “outperform” rating for the company. The Goldman Sachs Group lifted their price target on ON from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. UBS Group upped their price objective on ON from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, KeyCorp lifted their target price on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, ON currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.06.

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.