Silvercrest Asset Management Group LLC Sells 2,600 Shares of On Holding AG (NYSE:ONON)

Silvercrest Asset Management Group LLC lessened its holdings in shares of On Holding AG (NYSE:ONON) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,965 shares of the company’s stock after selling 2,600 shares during the period. Silvercrest Asset Management Group LLC’s holdings in ON were worth $5,766,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Asset Management One Co. Ltd. lifted its stake in 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 position in ON by 3.1% in the 4th quarter. Janney Capital Management LLC now owns 14,893 shares of the company’s stock valued at $402,000 after acquiring an additional 443 shares in the last quarter. Avitas Wealth Management LLC boosted its stake in ON by 2.7% in the 4th quarter. Avitas Wealth Management LLC now owns 22,943 shares of the company’s stock worth $619,000 after purchasing an additional 602 shares during the period. Spire Wealth Management increased its holdings in ON by 66.2% during the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock worth $45,000 after purchasing an additional 643 shares in the last quarter. Finally, Vista Capital Partners Inc. raised its stake in shares of ON by 4.3% in the 1st quarter. Vista Capital Partners Inc. now owns 18,000 shares of the company’s stock valued at $637,000 after purchasing an additional 750 shares during the period. 33.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley increased their price objective on ON from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. William Blair assumed coverage on shares of ON in a report on Tuesday, April 16th. They issued an “outperform” rating on the stock. Evercore ISI increased their target price on shares of ON from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. JPMorgan Chase & Co. lifted their price target on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Finally, Telsey Advisory Group increased their price objective on shares of ON from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.06.

ON Stock Performance

ONON traded down $1.01 on Tuesday, reaching $38.82. The company had a trading volume of 1,882,016 shares, compared to its average volume of 5,148,097. The company’s fifty day moving average is $39.92 and its 200 day moving average is $34.73. The stock has a market cap of $24.44 billion, a P/E ratio of 88.71, a P/E/G ratio of 1.18 and a beta of 2.23. On Holding AG has a fifty-two week low of $23.41 and a fifty-two week high of $44.30.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.20. ON had a return on equity of 11.13% and a net margin of 6.46%. The firm had revenue of $581.41 million for the quarter, compared to analysts’ expectations of $555.52 million. On average, sell-side analysts expect that On Holding AG will post 0.78 EPS for the current 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.