Advisors Asset Management Inc. Increases Stock Holdings in On Holding AG (NYSE:ONON)

Advisors Asset Management Inc. lifted its stake in shares of On Holding AG (NYSE:ONON) by 53.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,572 shares of the company’s stock after purchasing an additional 2,622 shares during the quarter. Advisors Asset Management Inc.’s holdings in ON were worth $380,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ONON. Blue Trust Inc. lifted its position in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after buying an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of ON during the 3rd quarter worth approximately $29,000. Quarry LP acquired a new stake in shares of ON in the 2nd quarter valued at approximately $32,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of ON in the third quarter valued at approximately $50,000. 33.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ONON shares. TD Cowen raised their target price on ON from $58.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Hsbc Global Res upgraded shares of ON to a “hold” rating in a research note on Thursday, September 5th. Robert W. Baird upped their target price on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $21.00 to $55.00 in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group upped their price target on ON from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.05.

ON Stock Performance

Shares of ONON opened at $57.90 on Friday. On Holding AG has a fifty-two week low of $25.78 and a fifty-two week high of $59.19. The company has a market capitalization of $36.46 billion, a PE ratio of 134.65 and a beta of 2.25. The stock has a fifty day moving average of $50.83 and a two-hundred day moving average of $44.56.

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.