Prime Capital Investment Advisors LLC Acquires 650 Shares of On Holding AG (NYSE:ONON)

Prime Capital Investment Advisors LLC grew its holdings in On Holding AG (NYSE:ONON) by 8.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,175 shares of the company’s stock after acquiring an additional 650 shares during the period. Prime Capital Investment Advisors LLC’s holdings in ON were worth $410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Blair William & Co. IL purchased a new stake in ON in the 1st quarter worth approximately $502,000. Acadian Asset Management LLC bought a new position in shares of ON in the first quarter worth approximately $8,094,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of ON by 100.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after purchasing an additional 642,894 shares in the last quarter. Forte Capital LLC ADV purchased a new position in shares of ON during the 3rd quarter valued at $742,000. Finally, Coronation Fund Managers Ltd. boosted its holdings in ON by 248.6% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company’s stock worth $6,010,000 after buying an additional 110,467 shares during the period. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Wall Street Analyst Weigh In

ONON has been the subject of several research analyst reports. Barclays increased their target price on ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley increased their price objective on shares of ON from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Hsbc Global Res raised shares of ON to a “hold” rating in a report on Thursday, September 5th. Raymond James initiated coverage on shares of ON in a research note on Wednesday, July 31st. They set an “outperform” rating and a $46.00 target price for the company. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $53.00 price target on shares of ON in a research note on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.33.

ON Trading Down 2.7 %

Shares of ONON opened at $51.92 on Friday. On Holding AG has a twelve month low of $25.78 and a twelve month high of $56.44. The company’s fifty day simple moving average is $49.56 and its 200-day simple moving average is $43.25. The company has a market cap of $32.69 billion, a P/E ratio of 120.74 and a beta of 2.25.

ON Profile

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.